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spin [16.1K]
2 years ago
12

Windsor Company reports the following financial information before adjustments. Dr. Cr. Accounts Receivable $145,600 Allowance f

or Doubtful Accounts $3,350 Sales Revenue (all on credit) 834,000 Sales Returns and Allowances 53,540 Prepare the journal entry to record bad debt expense assuming Windsor Company estimates bad debts at (a) 4% of accounts receivable and (b) 4% of accounts receivable but Allowance for Doubtful Acc
Business
1 answer:
Lady_Fox [76]2 years ago
8 0

Answer:

See below

Explanation:

1.

Bad debts ($145,600 × 4/100) = $5,824 - $3,350 = $4,000 Dr

...................To Allowance for doubtful account $4,000 Cr

(To record the estimation of 4% of bad debts on gross account receivable after adjusting the credit balance)

2.

Bad debts ($145,600 × 4/100) = $5,824 + $3,350 = $9,174 Dr

..............To Allowance for doubtful accounts $9,184 Cr

(To record 4% of account receivable but allowance for doubtful account).

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Which of the following statements generates the greatest amount of disagreement among economists? a. Increases in the money supp
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Answer:

d. Government should use fiscal policy to try to stabilize the economy.

Explanation:

Suggesting that the government should use fiscal policy to try to stabilize the economy generates the greatest amount of disagreement among economists because the process of implementing fiscal policy usually experiences lag as it is being slowed down by the political system (bureaucracy) of checks and balances.

Fiscal policy is the use of government expenditures, revenues and tax policies to influence macroeconomic conditions such as employment, inflation and Aggregate Demand (ADl in a specific country.

The benefits of fiscal policy is that investments, savings and growth is usually influenced in the long-run while it basically influences aggregate demand for goods and services in the short-run.

5 0
2 years ago
Two traditional economies are trying to industrialize. The leaders of the first favor a command economic system. The leaders of
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3 0
3 years ago
Read 2 more answers
K-Too Everwear Corporation can manufacture mountain climbing shoes for $13.5 per pair in variable raw material costs and $13.44
Alborosie

Answer:

Production costs= $4,310,400

Explanation:

Giving the following information:

$13.5 per pair in variable raw material costs and $13.44 per pair in variable labor expense.

<u>The production costs are the sum of direct material, direct labor, and variable overhead.</u>

Production costs= (13.5 + 13.44)*160,000= $4,310,400

8 0
2 years ago
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What is the variance in the number of orders? Product Analysis: Lamb Rack; Portion size = 12oz (EP); yield = 85% Opening Invento
STatiana [176]

Answer:

Explanation:

From the information given:

The number of portion size that can be gotten from one pound = 16/12

= 1.33

Given that the yield is 85%, therefore, the actual portions can now be:

= 1.33 × 0.85

= 1.133

However, the average meat used = Purchase + opening inventory - ending inventory

the average meat used = 200 + 100 - 110 = 190

The number of orders from 190 lbs = 1.133 × 190 = 215.27

The number of orders from 190 lbs = 215.27

The real purchases = 200

Thus; variance = 200 - 215.27

variance =  -15.27

Thus, approximately 15 orders are found to be lesser.

6 0
2 years ago
Do you think it is important for HR to be involved when a company plans to expand its operations? Why or why not?
torisob [31]

Answer:

Yes

Explanation:

Yes but partial, limited acces to just the informations what need to be rady to offer sufficent personal for the expantions in line with the future of the company.

4 0
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