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3 years ago

7.

1 answer:

6 0

An entrepreneur is a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.

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At the beginning of the current period, Bramble Corp. had balances in Accounts Receivable of $196,800 and in Allowance for Doubt

olasank [31]

Answer and Explanation:

The journal entries are shown below:

a. Account receivable Dr $864,300

To Sales revenue $864,300

(Being the sales revenue is recorded)

Cash Dr $687,610

To Account receivable $687,610

(Being the collections is recorded)

2. Allowance for doubtful debts $6,804

To Account receivable $6,804

(Being the written off amount is recorded)

3. Account receivable Dr $3,219

To Allowance for doubtful debts $3,219

(Being the previous written off amount is recorded)

Cash Dr $3,219

To Account receivable $3,219

(Being the recovery is recorded)

4. Bad debt expense $18,075

To Allowance for doubtful debts $18,075

(Being the bad debt expense is recorded)

The computation is shown below:

= $24,000 - $9,510 + $6,804 - $3,219

= $18,075

Only these entries are recorded

3 0

3 years ago

Bedford had this info at the end of 2015, its first year of operations: No other permanent or temporary differences exist. The l

Alex73 [517]

Answer: $150,000

Explanation:

Seeing as the litigation expense will only be paid in 2018, it should be added back to income for 2015.

= 900,000 + 100,000

= $1,000,000

As the depreciation will reverse evenly over the next three years and with future income probable, it should be removed from income.;

= 1,000,000 - 300,000

= $700,000

Municipal Bonds have the advantage of being Tax-exempt so their interest income should be removed to calculate how much tax should be paid.

= 700,000 - 200,000

= $500,000

2015 Income Tax Payable = 500,000 * 30%

= $150,000

5 0

3 years ago

What is cooperative skill

Delvig [45]

A co-operative skill is the understanding of how to work effectively with other people on an equal basis towards commonly held aims and objectives

7 0

3 years ago

A company that makes organic fertilizer has supplied the following data: Bags produced and sold 200,000 Sales revenue $ 1,560,00

Readme [11.4K]

Answer:

The company's degree of operating leverage is closest to $840000

Explanation:

Selling price per unit = Sales revenue / No. of bags sold

= $1560000/200000 bags = $7.8 per bag

Variable cost per unit=Total variable expenses/No. of units

= $840000/200000 units = $4.2 per bag

Company’s unit contribution margin = Selling price per unit-Variable cost per unit

= $7.8 per unit-$4.2 per unit = $3.6 per unit

Company's degree of operating leverage = Variables manufacturing expense + Variable selling and administrative expense

=$660000+$180000 = $840000

5 0

3 years ago

Which of the following products is likely to have an inelastic supply reaction to a change in price? A. Corn B. Cars C. Shoes D.

Sergio039 [100]

The correct answer is C,
A good is said to have an inelastic supply if the suppliers did not have any choice than producing it even though the cost of production is high and the buyers did not have any choice than buying it even though it is expensive.
No one can do without shoes, even if they are expensive, we still need to buy them.

4 0

3 years ago

Read 2 more answers