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Sedaia [141]
3 years ago
5

After all of the account balances have been extended to the Balance Sheet columns of the work sheet, the totals of the debit and

credit columns show debits of $37,686 and the credits of $41,101. This indicates that
the amounts are out of balance and need to be corrected
the company has a net income of $3,415 for the period
the company has a net loss of $3,415 for the period
neither net income or loss can be calculated because it is found on the income statement
Business
1 answer:
Nat2105 [25]3 years ago
6 0

Answer:

huh.............................................................................................

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Cullumber Company uses the percentage-of-receivables basis to record bad debt expense. Accounts receivable (ending balance) $605
Lana71 [14]

Answer:

a. Journal entry

b. $18,150

c. $586,850

Explanation:

a. The adjusting journal entry is as follows

Bad debt expense A/c Dr

  To Allowance for doubtful debts

(Being bad debt expense is recorded)\

The computation of the bad debt expense is shown below:

= Account receivable × estimated percentage given  + debit balance of allowance for uncollectible accounts

= $605,000 × 3% + $4,700

= $18,150 + $4,700

= $22,850

b. The adjusted balance in Allowance for Doubtful Accounts is $18,150

c. The cash realizable value is

= $605,0000 - $18,150

= $586,850

8 0
3 years ago
A marketing researcher is most likely to serve as a _____ in a new product development team. functional representative process m
dedylja [7]

Answer:

The correct answer is letter "A": functional representative.

Explanation:

Market Research is the process a company uses to assess the viability of a new product or service. It reveals the details of a company's target market and what consumers think about a product before it is widely released. <em>Researchers are the key functional characters in this process</em> because thanks to them the information needed to know consumers' preferences and behaviors is unveiled by them.

4 0
3 years ago
The board of governors of the federal reserve system can increase commercial bank reserves by
Marina CMI [18]
<span>The board of governors of the federal reserve system can increase commercial bank reserves by increasing the size of its term auction facility.</span>
3 0
3 years ago
Gasoline is made fron oil. If oil is hard to get, what will Most Likely happen?
ANTONII [103]

Gasoline prices will rise extensively.

8 0
3 years ago
Read 2 more answers
Handling materials $ 625,000 100,000 parts Inspecting product 900,000 1,500 batches Processing purchase orders 105,000 700 order
Verizon [17]

Answer:

Part 1:

Single plant overhead rate=$17.44/hour

Part 2:

For Deluxe Model:

Overhead Cost=$43,600

For Basic Model:

Overhead Cost=$104,640

Explanation:

Part 1:

Single plant overhead rate for the year:

Single plant overhead rate for the year=Total expected Cost/direct labor hours

Total Expected Cost= Handling materials+Inspecting product +Processing purchase orders+Paying suppliers+invoices Insuring the factory +Designing packaging

Total Expected Cost=$625,000+$900,000+$105,000+$175,000+$300,000+$75,000

Total Expected Cost=$2,180,000

Direct labor hours= 125,000 hours

Single plant overhead rate=\frac{\$2,180,000}{125,000}

Single plant overhead rate=$17.44/hour

Part 2:

For Deluxe Model:

Overhead Cost=Single plant overhead rate*Direct labor hours

Overhead Cost=$17.44/hour*2,500 hours

Overhead Cost=$43,600

For Basic Model:

Overhead Cost=Single plant overhead rate*Direct labor hours

Overhead Cost=$17.44/hour*6000 hours

Overhead Cost=$104,640

5 0
3 years ago
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