Answer:
A. future conditions can be different from the past
Explanation:
A limitation of using past performance as a basis for judging actual results is that future conditions can be different from the past. Many factors within a business can change as time progresses and all of which act as variables when determining performance. Therefore a change in one of these variables can drastically change the performance in the present even though everything else in regards to the business is the same as it was in the past.
Answer: 3.83 years
Explanation:
The Discounted Payback period is used to determine how long it would take a project to payback the investment made in it given required return adjusted cashflows.
Year 1.
= 17,000 / ( 1 + 11.4%)
= $15,260
Year 2
= 20,000/ 1.114²
= $16,116
Year 3
= 27,000/1.114³
= $19,530
Year 4
= 30,000/1.114⁴
= $19,480
Investment Balance up to year 3
= -67,000 + 15,260 + 16,116 + 19,530
= -$16,904
The amount left is smaller than the discounted Cashflow for Year 4 so the Investment will be paid back in year 4.
= 16,904/19,480
= 0.83
0.83 of year 4 will be taken to pay off Investment.
In total;
= 3 complete years + 0.83 in 4th year
= 3.83 years.
Cost of goods sold (Periodic System) = Beginning inventory + (Purchases, net of returns and allowances, and purchase discounts) + freight in − Ending inventory .
COGS = Cost of goods sold
COGS = 46200+(401100-13500-11300)+16000-57900
COGS = 380600
The total sum that your company spent on expenses directly associated with the selling of goods is known as the cost of goods sold. Depending on the nature of your firm, this could also include raw materials, packaging, direct labor involved in making or selling the product, and items bought for resale.
First In First Out (FIFO), Last In First Out (LIFO), and the Average Cost Method are the three techniques that a business might employ when tracking the amount of inventory sold over a given time period.
Learn more about cost of goods sold here
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Answer:
If the company used the percentage of sale method and estimates bad debts to be 2% of sales what is the amount of bad debt expense:
If the company uses the percentage of accounts receivable method and estimates 4% of accounts receivable will be uncollectible
Explanation:
- The percentage of sale method
800,000 2% 16,000
Initial Balance
Accounts Receivable $ 120,000
Allowance for Uncollectible Accounts $ 500
Allowance for Uncollectible Accounts $ 15,500
Accounts Receivable $ 15,500
- Accounts Receivable Method 4% 4,800
Bad debt expense $ 4,300
Allowance for Uncollectible Accounts $ 4,300
