Answer:
$844,000
Explanation:
Given that,
Accounts Receivable = $900,000
Credit balance of Allowance for Doubtful Accounts per books before adjustment = $50,000
Expected amount of uncollectible = $56,000
Bad debt expense at the end of the period is determined by subtracting the credit balance of allowance for doubtful accounts from the expected amount of uncollectible.
Bad debt expense:
= Expected amount of uncollectible - Credit balance
= $56,000 - $50,000
= $6,000
At the end of the period, the allowance for doubtful accounts has a balance of $56,000 that are to be uncollectible.
The cash realizable value of the accounts receivable at December 31, after adjustment, is determined by simply subtracting the Allowance for doubtful accounts from the accounts receivable. It is calculated as follows:
= Accounts Receivable - Allowance for doubtful accounts
= $900,000 - $56,000
= $844,000
Answer: Sustainability refers <u><em>to ability of a company to maintain high profits despite cutting prices</em></u>
It is defined as the procedure of individuals maintaining alteration in a harmonious surroundings, here the exploitation of commodities and resources, investments, technological development and organizational changes are in concord and heightens actual and forthcoming potential to meet needs and aspirations.
This question is mainly about YOUR opinion. Many will say that it will, but some will say it shouldn't. This is based entirely on your opinion.
Answer:
times interest earned= 9.49
Explanation:
Giving the following information:
Ron Landscaping's income statement reports net income of $75,200, which includes deductions for interest expense of $13,200 and income taxes of $36,900.
First, we need to calculate the income before taxes and interest expense:
EBIT= 75,200 + 13,200 + 36,900= $125,300
Now, to calculate the times interest earned we need to use the following formula:
times interest earned= EBIT/ interest expense= 125,300/13,200= 9.49
Answer:
$414,000
Explanation:
Calculation of balance of cash account:
Issuance of capital stock to the $648,000
owners of the corporation
Cash down payment for purchase ($170,000)
a piece of lane
Cash payment on the note payable <u>($64,000)</u>
from the purchase of land
Balance in the Cash account $414,000
at the end of May
