Answer:
Accounts receivable $361,000 debit
Allowance for uncollectible accounts $560 debit
Net Sales $806,000 credit
0.4% of credit sales are uncollectible = 0.4% x $806,000 = $3,224
adjusting entry:
December 31, 202x
Dr Bad debt expense 3,224
Cr Allowance for doubtful accounts 3,224
Allowance for doubtful accounts is a contra asset account that reduces accounts receivable.
Answer:
Journal entry recording the interest
Debit Credit
Interest Expense $7,350
Cash $7,000
Interest Payable $350
As $7,000 is paid from the total expense of $7,350. Remaining interest of $350 is recorded as liability in interest payable account.
Answer:
True.
Explanation:
The Contribution margin i.e Sale price less Variable Cost per unit for product A is (15-4) is $11 & for product B is ( 21-13) is $8. for making 4 units of product A we need three machine hours, so if we divide units by machine hours only 0.9 unit of A can be made in an hour while we can made 5 units in 0.7 hours pf product B, so if we divide 5 by 0.7, approximately 7 unit of B can me made in an hour.
Thus, in the production of 1 hour we can make $10 from product A while we can make $ 57 from product B.
Product A Product B
S.P $15.00 $21.00
V.C $4.00 $13.00
Contribution Margin Per unit $11.00 $8.00
Units Produce Per hour Production 0.9 7
CM Per hour $10.27 $57.14
In the long run, the most important source of increase in a nation's standard of living is high rate of economic growth.
<h3>What is economic growth?</h3>
This refers to continuous increase in the total amount of goods and services produced within a country.
The long run is a period in which all factors of productions are variable hence high rate of economic growth is essential towards a nation's standard of living.
Learn more about economic growth here: brainly.com/question/1690575
#SPJ1
Answer:
d. 829
Explanation:
The computation of the ending inventory using the LIFO method is shown below:
Since there are 300 units in hand which reflects the ending inventory units so
= 150 units ×$2.60 + 150 units $2.925
= $390 + $438.75
= $828.75
i.e d. 829
So 150 units is taken from June and the remaining units i.e 150 units are taken from June 10
