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erma4kov [3.2K]
3 years ago
15

Stone Furniture Store has credit sales of $400,000 in 2008 and a debit balance of $600 in the Allowance for Doubtful Accounts at

year end. As of December 31, 2008, $130,000 of accounts receivable remain uncollected. The credit manager prepared an aging schedule of accounts receivable and estimates that $3,000 will prove to be uncollectible. On March 4, 2009, the credit manager authorizes a write-off of the $1,000 balance owed by A. Lowell.
Instructions:
(a) Prepare the adjusting entry to record the estimated uncollectible accounts expense in 2008.
(b) Show the balance sheet presentation of accounts receivable on December 31, 2008.
(c) On March 4, before the write-off, assume the balance of Accounts Receivable account is $160,000 and the balance of Allowance for Doubtful Accounts is a credit of $2,000. Make the appropriate entry to record the write-off of the Lowell account. Also show the balance sheet presentation of accounts receivable before and after the write-off.
Business
1 answer:
AlekseyPX3 years ago
3 0

Answer:

pm jvvjvvjvjvjkbkkvkkbbkkbbjjv

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Which of the following statements is true regarding the cumulative translation adjustment? Select one: Changes in the cumulative
vaieri [72.5K]

Answer:

The true statement is "The cumulative translation adjustment account affects the amount of gain or loss reported upon the sale of a foreign subsidiary".

Explanation:

The current technique needs that each one quality and accountability books be interpreted at this rate whereas shareholders’ justice accounts are interpreted at ancient altercation rates. The distinction is mirrored finished the additive conversion alteration, therefore the quantity of improvement or loss according upon the auction of a distant secondary to the additive conversion alteration.

8 0
3 years ago
When channel members are linked by legal agreements that specify each member's rights and responsibilities, ____ exists.
Ne4ueva [31]

Answer:

D. a contractual VMS

Explanation:

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4 0
3 years ago
Park Sung Inc. is a fictional South Korean manufacturer of refrigerators. The company produces at its manufacturing plant in Bus
Murrr4er [49]

Answer:

The answer for each requirement is given separately below.

Explanation:

What is the economic production quantity (EPQ)?

EPQ = ((Annual Requirement * setup cost *2)/Carrying cost per unit)^(1/2)

         = ((30,000 * 50 *2)/3^(1/2)

         = 1000 Units

a. What is the average inventory level for this optimum production quantity?

Average Inventory level = EPQ/2 = 500 units

b. How many production setups would there be in a year?

Production setups = Annual Usage /EPQ = 30 set ups

C. What is the optimal length of production run in days

length of production = Total Requirement/production per day

                                   = 30,000/275

                                   =110 days approx

d. What would be the savings in annual inventory Cost if setup costs can be reduced to US$40 per setup?

If set up cost reduce to $40  than EPQ = 895

So Set up cost = 30,000/ 895 * 40 = 1,360

Carrying cost = 883/2 *3                  = 1,325

Total Cost                                          = $ 2,685 -A

If set up cost  $50  than EPQ = 1000

So Set up cost = 30,000/ 1000 * 50   = 1,500

Carrying cost = 1000/2 *3                  = 1,500

Total Cost                                          = $ 3,000- B

Saving = B-A = 315 Dollars

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3 years ago
Which of the following items might require additional coverages on a Homeowners Policy?
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c. pool

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I think it is right answer of ur Question

5 0
2 years ago
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