Answer:
62,200 allowance ending
Explanation:
allownce 5,000 credit
<u>Because the bad debt is calculate over the sales,</u> the bad debt expense is the result of that estimated, without considering the beginning balance of the allowance.
22% of net credit sales will be uncollectible:
260,000 x 22% = 57,200
<u>Now ending balance will be beginning + uncollectible for the period</u>
5,000 beginning
57,200 uncollectible for the period
62,200 allowance ending
Answer:
$ 464,120
Explanation:
Calculation to determine what The amount of manufacturing overhead that would have been applied to all jobs during the period is closest to:
Estimated overhead Rate = ( Estimated Fixed Manufacturing Overhead) / (Estimated Machine Hours )
Estimated overhead Rate = $ 492,000 / 30,000 hours
Estimated overhead Rate = $ 16.4 / hr
Total amount of overhead =Overhead Rate × Actual total machine-hours
Total amount of overhead = $ 16.4 / hr × 28,300 hours
Total amount of overhead= $ 464,120
Therefore The amount of manufacturing overhead that would have been applied to all jobs during the period is closest to:$ 464,120
Answer:
The correct answer is letter "C": The owners' equity that has accumulated as a result of profitable operations.
Explanation:
Retained Earnings are the part of the company's net profits it does not pay out as dividends to shareholders. The company retains the money and reinvests it in the company, or uses it to pay off a part of its debt. To see how much profits a corporation has kept, look under the Shareholder's equity in the Balance Sheet.
The economy consists of producers, who make and sell goods and services, and consumers, who buy the goods and services.
Producers rely on consumers to buy from them, and consumers rely on producers to provide the goods and services they want.
Money allows this relationship to work.
