Indicate your potential market

On December 31, 2015, Coolwear Inc. had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $43,000 and

Marrrta [24]

Answer:

Bad debt expense $5.125

Explanation:

Initial Balance

Accounts Receivable $ 43.000

Allowance for Uncollectible Accounts $ 1.250

Entry

Allowance for Uncollectible Accounts $ 775

Accounts Receivable $ 775

New Balance

Accounts Receivable $ 42.225

Allowance for Uncollectible Accounts $ 475

Entry Adjustment

Bad debt expense $ 5.125

Allowance for Uncollectible Accounts $ 5.125

END Balance

Accounts Receivable $ 42.225

Allowance for Uncollectible Accounts $ 5.600

7 0

2 years ago

What does it mean to do time analysis which is one of the principles referred to ?

Whitepunk [10]

Data Analysis - Process. Data Analysis is a process of collecting, transforming, cleaning, and modeling data with the goal of discovering the required information. The results so obtained are communicated, suggesting conclusions, and supporting decision-making.

3 0

3 years ago

Hodor borrowed $1000. The bank charges him 5% interest per year. At the end of year, he paid $50 in interest. There was 2% incre

dem82 [27]

Answer:

5%

Explanation:

nominal interest rate = 5%

real interest rate = nominal interest rate - increase in GDP deflator (inflation rate) = 5% - 2% = 3%

The nominal interest rate is the interest rate earned or charged without considering the effects of inflation. The real interest rate adjusts the nominal interest rate against the year's inflation rate.

5 0

3 years ago

A manufacturer of handcrafted wine racks has determined that the cost to produce x units per month is given by upper c equals 0.

Fantom [35]

Answer:

The cost per month is increasing at a rate $365.

Explanation:

Differentiation Formula

$\frac{d}{dx}(x^n)= nx^{n-1}$
$\frac{d}{dx}(a)=0$ [ where a is a constant]
$\frac{d}{dx}(ax^n)=a \frac{d}{dx}(x^n)= anx^{n-1}$

Given that,

A manufacturer of handcrafted wine racks has determined that the cost to produce x units per month is given by

$c=0.2x^2+10,000$ .

Again given that,

the rate of changing production is 13 unit per month

i.e $\frac{dx}{dt}=13$

To find the cost per month, we need to find out the value $\frac{dc}{dt}$ when production is changing at the rate 13 units per month and the production is 70 units.

$c=0.2x^2+10,000$

Differentiating with respect to t

$\frac{d}{dt}(c)=\frac{d}{dt}(0.2x^2)+\frac{d}{dx}(10,000)$

$\Rightarrow \frac{dc}{dt}=0.2\frac{d}{dt}(x^2)+\frac{d}{dx}(10,000)$

$\Rightarrow \frac{dc}{dt}=0.2\times 2x^{2-1}\frac{dx}{dt}+0$

$\Rightarrow \frac{dc}{dt}=0.4x\frac{dx}{dt}$

Plugging $\frac{dx}{dt}=13$

$\Rightarrow \frac{dc}{dt}=0.4x\times 13$

$\Rightarrow \frac{dc}{dt}=5.2x$

$\frac{dc}{dt}|_{x=70}=5.2\times 70$ [ plugging x=70]

=364

[ The unit of c is not given. Assume that the unit of c is dollar.]

The cost per month is increasing at a rate $365.

4 0

2 years ago

Forest Components makes aircraft parts. The following transactions occurred in July. Purchased $16,950 of materials on account.

horrorfan [7]

Answer:

Forest Components

Journal Entries:

1. Debit Materials Inventory $16,950

Credit Accounts Payable $16,950

To record the purchase of materials on account.

2. Debit Work in Process Inventory $16,780

Credit Materials Inventory $16,780

To record the issue of materials to the production department.

3. Debit Manufacturing Overhead $1,340

Credit Materials Inventory $1,340

To record the issue of materials to the service department.

4. Debit Accounts Payable $16,950

Credit Cash Account $16,950

To record the payment for the materials purchased on account.

5. Debit Materials Inventory $2,020

Credit Work In Process $2,020

To record the record of materials.

6. Debit Work in Process $32,500

Credit Factory Wages $32,500

To record the direct labor cost.

7. Debit Manufacturing Overhead $17,250

Credit Accounts Payable $17,250

To record the purchase of miscellaneous items for the plant.

8. Debit Manufacturing Overhead $36,700

Credit Depreciation Expense $36,700

To record depreciation expense on manufacturing plant.

9. Debit Work In Process $30,875

Credit Manufacturing Overhead $30,875

To apply overhead for the month.

b. T-accounts:

Materials Inventory

Accounts Titles Debit Credit

Balance $12,320

Accounts Payable $14,930

Work in Process 2,020

Work in Process Inventory $16,780

Balance $12,490

Work-in-Process Inventory

Accounts Titles Debit Credit

Balance $11,755

Materials Inventory 16,780

Materials Inventory $2,020

Factory Wages 32,500

Overhead 30,875

Finished Goods Inventory 79,330

Balance 10,560

Manufacturing Overhead

Accounts Titles Debit Credit

Materials Inventory $1,340

Accounts Payable 17,250

Depreciation Expense 36,700

Work In Process $30,875

Finished Goods Inventory

Accounts Titles Debit Credit

Balance $2,700

Work in Process 79,330

Cost of goods sold 75,100

Balance $6,930

Cost of Goods Sold

Accounts Titles Debit Credit

Finished Goods 75,100

Explanation:

a) Data and Calculations:

Materials Inventory ? $12,490

Work-in-Process Inventory ? 10,560

Finished Goods Inventory $2,700 6,930

Cost of Goods Sold ? 75,1000

Predetermined overhead rate = $412,870/$434,600 = $0.95

Overhead applied = $30,875 ($0.95 * $32,500)

5 0

2 years ago

Indicate your potential market​

Indicate your potential market