Answer:
(D) $ 4,950
Explanation:
The computation is shown below
As We know that
Ending work in process inventory = Opening work in process inventory + total manufacturing cost - cost of goods manufactured
where,
Total manufacturing cost = Direct materials used + direct labor cost + manufacturing overhead cost
= $10,000 + $25,800 + $19,200
= $55,000
So, the opening work in process inventory would be
$11,200 = Opening work in process + $55,000 - $48,750
So, the opening work in process is
= $4,950
Answer:
$17,167
Explanation:
<em>The first step is to calculate amount of cash that would be charged</em>
<em>For 30 months, pay $520 per month for 30 months and an additional $10,000 at the end of 30 months.</em>
Present value is = 2,221
<em>Then</em>
<em>The present value of the payment options is =</em>
<em>($520 * PVA (24% 12,30) + $10,000 PV ( 24% 12,30))</em>
<em>$520 * 22.396 + $10,000 * 0.5521</em>
<em>$11646 + $ 5521</em>
<em>$17,167</em>
<em>Therefore the amount of cash the car dealer would charge is $17,167</em>
Can you dm me for the answer I’m not home rn I’m trying to help out a lot of people
Answer:
Total FV= $7,313.7
Explanation:
Giving the following information:
Year Cash Flow 1 $ 1,040 2 1,270 3 1,490 4 2,230
Discount rate= 9% = 0.09
<u>To calculate the future value, we need to use the following formula on each cash flow</u>:
FV= Cf*(1+i)^n
FV1= 1,040*(1.09^4)= 1,468.04
FV2= 1,270*(1.09^3)= 1.644.69
FV3= 1,490*(1.09^2)= 1,770.27
FV4= 2,230*1.09= 2,430.7
Total FV= $7,313.7
Answer:
- 1-a. Complete the Accounts Receivable and Allowance for Doubtful Accounts T-accounts to determine the balance sheet values. Disregard income tax considerations.
Accounts Rec T-Account
$ 306.673 Debit
$ 290.750 Credit
$ 7.059 Credit
$ 8.864 Debit Balance
Allowance for Doubtful Accounts T-Account
$ 7.059 Debit
$ 4.775 Credit
$ 2.284 Debit Balance
- 1-b. Complete the amounts related to Accounts Receivable and Bad Debt Expense that would be reported on the income statement for the current year.
$ 4.775 Dr Bad Debt Expense
- 1-c. Complete the amounts related to Accounts Receivable and Bad Debt Expense that would be reported on the balance sheet for the current year.
$ 2.284 Dr (Debit) Allowance for Uncollectible Accounts
$ 8.864 Dr (Debit) Accounts Receivable
Explanation:
Dr Accounts Receivable $ 306.673
Cash $ 290.750
Cr Accounts Receivable $ 290.750
Dr Allowance for Uncollectible Accounts $ 7.059
Cr Accounts Receivable $ 7.059
- Bad debt expense adjustment
Dr Bad Debt Expense $ 4.775
Cr Allowance for Uncollectible Accounts $ 4.775
- 1-b. Complete the amounts related to Accounts Receivable and
Bad Debt Expense that would be reported on the INCOME STATEMENT for the current year
Dr Bad Debt Expense $ 4.775
- 1-c. Complete the amounts related to Accounts Receivable and
Bad Debt Expense that would be reported on the BALANCE SHEET for the current year.
Dr Allowance for Uncollectible Accounts $ 2.284
Dr Accounts Receivable $ 8.864
