1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
nydimaria [60]
3 years ago
11

Calistoga Produce estimates bad debt expense at 0.50% of credit sales. The company reported accounts receivable and allowance fo

r uncollectible accounts of $476,000 and $1,650 respectively, at December 31, 2020. During 2021, Calistoga's credit sales and collections were $315,000 and $307,000, respectively, and $1,880 in accounts receivable were written off. Calistoga's final balance in its allowance for uncollectible accounts at December 31, 2021, is:
Business
1 answer:
AveGali [126]3 years ago
7 0

Answer:

$1,345

Explanation:

Calculation to determine what Calistoga's final balance in its allowance for uncollectible accounts at December 31, 2021, is

First step is to calculate the Expense amount

Expense=Credit sales $315,000* .5%

Expense=$1,575

Second step is to calculate the Allowance

Allowance 12/31/2020 $1,650

Less Write-offs(1,880)

Allowance ($ 230)debit

Now let calculate the final balance in its allowance for uncollectible accounts

December 31, 2021 allowance for uncollectible accounts= ($230) + $1,575

December 31, 2021 allowance for uncollectible accounts=$1,345

Therefore Calistoga's final balance in its allowance for uncollectible accounts at December 31, 2021, is $1,345

You might be interested in
Snyder Painting is transitioning to an ABC system. So far, the company has traced its costs back to several different activities
Andreyy89

Answer:

Snyder Painting

If Snyder wants to reduce its non-value-added activities to the greatest extent possible, it should concentrate its efforts on reducing the amount of time and money it spends on

B. paint storage.

Explanation:

a) Identified Activities of Snyder Painting:

A. customer consultation.

B. paint storage.

C. site preparation and cleanup.

D. onsite paint application.

b) Non-value added activities are activities that are currently necessary and consume resources but do not add value to the company's product or service.  For example, equipment set-up, parts inspection, recording job time, job scheduling, product storage, and customer billing. These activities should be reduced to the barest minimum in order to maximize value.

8 0
3 years ago
Percent of all profits and losses, this extra allocation indicates total goodwill of $150,000, which must be split among all par
ivann1987 [24]
This fact is true, but is this a question?
8 0
3 years ago
The following data are for the Akron Division of Consolidated Rubber, Inc.: Sales $ 820,000 Net operating income $ 59,000 Averag
VladimirAG [237]

Answer:

11.56%

Explanation:

The computation of the minimum required rate of return is shown below:

Residual income = Net operating income - (Average operating assets × minimum required rate of return)

$22,000 = $59,000 - ($320,000 × minimum required rate of return)

After solving this the minimum required rate of return is 11.56%

By applying the above formula we can find out the minimum required rate of return

7 0
2 years ago
Please help me. Only answer if you know.
Nostrana [21]
A. Occupational Outlook Handbook.
3 0
3 years ago
Your needs and wants never end. True or false?
AysviL [449]

Answer:

absolutely true they keeps increasing

6 0
2 years ago
Other questions:
  • Sharon spent the weekend with her friend amelia. amelia proposed a plan for shoplifting cd's from a local music store. sharon wa
    11·1 answer
  • The NASDAQ is an example of what type of stock exchange?
    11·1 answer
  • What is market saturation?
    10·2 answers
  • How does tourism benefit the economy
    14·1 answer
  • It is generally believed that LBOs (leveraged buyouts) occur because of: managerial mistakes or self-interest. poor financial pe
    10·1 answer
  • According to Utilitarianism, my own happiness and the happiness of loved ones count more than the happiness of strangers.
    14·2 answers
  • An investment proposal with an initial investment of $100,000 generates annual net cash inflow of $20,000 for a period of 10 yea
    14·1 answer
  • Dell Computers wants to reach all potential users of their products, both industrial buyers and final consumers. They would most
    8·1 answer
  • Which of the following would be included in the U.S. gross domestic product<br> (GDP) measure?
    5·1 answer
  • The scenario below should be used for the following two questions. Your company, Johnson Farm Products, has decided to expand it
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!