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
Naddik [55]
2 years ago
13

At the beginning of the current period, Shamrock Corp. had balances in Accounts Receivable of $187,800 and in Allowance for Doub

tful Accounts of $9,630 (credit). During the period, it had net credit sales of $860,400 and collections of $687,720. It wrote off as uncollectible accounts receivable of $7,381. However, a $2,859 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $23,070 at the end of the period.
Required:
a. Determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts.
b. What is the net realizable value of the receivables at the end of the period?
Business
1 answer:
nignag [31]2 years ago
6 0

Answer:

See below

Explanation:

The net realizable values are as follows

ai For accounts receivables

Ending balance of account receivables = Beginning balance of account receivables + Credit sale - Collections uncollectible amount

= $187,800 + $860,400 - $687,720

= $360,480

aii For allowance for doubtful debt

= Beginning balance + Previously written off amount - Uncollectible amount + Bad debt expense

= $9,630 + $2,859 - $7,381 + $18,412

= $23,070

You might be interested in
What's the difference between a checking account and a savings account?
elena-s [515]

Answer:

D. A checking account comes with a credit card.

Explanation:

A checking account is opened to facilitate regular bank transactions such as deposits, withdraws, cash transfers, payments, among others. There are no limits to the number of transactions that one can perform per period. Bank's fee and charges are applicable per transaction. To facilitate payments, withdrawals, and deposits, banks provide debit cards to customers.

Savings accounts are designed to help customers accumulate funds for future use. Banks limit withdrawals and offer interest payments to encourage customers to save. Savings accounts have fewer charges and don't come with debit cards.

6 0
2 years ago
Cost of Direct Materials Used in Production for a Manufacturing Company
strojnjashka [21]

Answer:

$855,000

Explanation:

The Raw Materials T - Account can be used to determine the cost of direct materials used in production using the missing balance technique as follows :

Raw Materials T - Account

Debit :

Beginning Balance                                               $279,000

Purchases                                                             $828,000

Total                                                                     $1,107,000

Credit :

Ending Balance                                                    $252,000

Transferred to Production (<em>Balancing figure</em>)     $855,000

Total                                                                     $1,107,000

3 0
3 years ago
Tracy company, a manufacturer of air conditioners, sold 200 units to thomas company on november 17, 2016. the units have a list
atroni [7]

and what is the question ?

5 0
3 years ago
Read 2 more answers
The marketing and administrative expense budget of Frazier Corporation is based on budgeted unit sales, which are 5,500 units fo
LenaWriter [7]

Answer: b. $106,700

Explanation:

The marketing and administrative expense budget is based on budgeted unit sales, which are 5,500 units for June.

The variable marketing and administrative expense is $1.00 per unit. Which is 5,500 units x $1.00 = $5,500.

The budgeted fixed marketing and administrative expense is $101,200.

To get the cash disbursements for marketing and administrative expenses on the June marketing and administrative expense budget should be Variable costs plus fixed costs.

= $5,500 + $101,200

= $106, 700

4 0
3 years ago
Assume that in the year 2010, the US Nominal GDP was $15 trillion, while the GDP deflator was 200. Calculate the US Real GDP for
oksian1 [2.3K]

Assume that in the year 2010, the US Nominal GDP was $15 trillion, while the GDP deflator was 200. US Real GDP for 2010 is 7.5%.

<h3>Real GDP</h3>

Using this formula

GDP=Nominal GDP/GDP deflator×100

Where:

Nominal GDP=$15 trillion

GDP deflator=200

Let plug in the formula

GDP=$15 trillion/200×100

GDP=7.5%

Therefore US Real GDP for 2010 is 7.5%.

Learn more about Real GDP here:brainly.com/question/6348208

3 0
2 years ago
Other questions:
  • A truck acquired at a cost of $69,000 has an estimated residual value of $12,000, has an estimated useful life of 300,000 miles,
    11·1 answer
  • While on a hike with a tour group in the mountains, Derek gets mauled by a bear. No previous reports of bears in the area had be
    11·1 answer
  • The selling price of a television is​ $1,000 and the cost to the retailer is​ $725. what is the​ retailer's gross profit from th
    5·1 answer
  • : Narda Corporation agreed to sell all of its capital stock to Effie Corporation for three monthly payments of $200,000. After E
    5·1 answer
  • Cad Cream Inc, an ice cream company, has collaborated with Bite Snack Inc, a food manufacturing company, to come up with a third
    9·2 answers
  • What is a pestle analysis for an escape room
    10·1 answer
  • If you like working with others and persuading them to see your point of view you have a ? personality
    7·1 answer
  • Supervisor hadley has suspended an employee covered by a typical labor agreement. in a grievance hearing, hadley will be called
    13·1 answer
  • Madrid Company has provided the following data (ignore income taxes): 2018 revenues were $77,500. 2018 net income was $33,900. D
    8·1 answer
  • Company A uses the FIFO method to account for inventory and Company B uses the LIFO method. The two companies are exactly alike
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!