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mr_godi [17]
3 years ago
10

Colorado rocky cookie company offers credit terms to its customers. at the end of 2018, accounts receivable totaled $640,000. th

e allowance method is used to account for uncollectible accounts. the allowance for uncollectible accounts has a credit balance of $35,000 at the beginning of 2018 and $22,500 in receivables were written off during the year as uncollectible. also, $1,500 in cash was received in december from a customer whose account previously had been written off. the company estimates bad debts by applying a percentage of 10% to accounts receivable at the end of the year. required: 1. prepare journal entries to record the write-off of receivables, the collection of $1,500 for previously written off receivables, and the year-end adjusting entry for bad debt expense. 2. how would accounts receivable be shown in the 2018 year-end balance sheet
Business
1 answer:
morpeh [17]3 years ago
3 0

Maybe spread these out more

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According to the new approaches to determining the success of an expatriate's assignment, the assessment of an expatriate's succ
aev [14]

Answer:

should be Globally acceptable with Flexibility, Leadership and Patience also with almost extreme Cultural Adaptability andLanguage Skills

5 0
4 years ago
The market for fertilizer is perfectly competitive. Firms in the market are producing output but are currently making economic l
k0ka [10]

Answer:

The price of fertilizer must be greater than average variable cost.

Explanation:

  • Being a perfectly competitive market the prices of the fertilizers will rise. As the forms are making economic losses the prices must be greater the average variable costs.
8 0
3 years ago
Orange Corporation has budgeted sales of 26000 ​units, targeted ending finished goods inventory of 6000 ​units, and beginning fi
bonufazy [111]

Answer:

29,000 units

Explanation:

The computation of the number of units produced next year is shown below:

Number of units produced next year = Ending finished goods inventory units + budgeted sales units - beginning finished goods inventory units

where,

Ending finished goods inventory units is  6,000 units

Budgeted sales units is 26,000 units

And, the beginning finished goods inventory units is 3,000 units

So, the number of units produced is

= 6,000 units + 26,000 units - 3,000 units

= 29,000 units

We simply applied the above formula

8 0
3 years ago
Assume that the Quinn Corporation uses the indirect method to depict cash flows. Indicate where, if at all, stock issued for equ
trasher [3.6K]

Answer:

No, it will not be classified on cash flow statement.

Explanation:

In the given case, stocks are issued in exchange of equipment. Assuming no cash is involved even for the balancing amount.

Since, cash flow statement records all transactions involving cash the exchange of stock issued for equipment, is nowhere involving cash thus, it will not be depicted on cash flow statement.

Final Answer

No it will not be classified on cash flow statement.

4 0
3 years ago
Use the following chart to explain how the amount of principal affects the total cost of the loan
german

Answer: The higher the principal, the higher the total cost of the loan

Explanation:

From the chart shown we can see that the loan with a higher principal has a higher total cost than the loan with the smaller principal.

This happens because the interest rate attached affects larger figures more than smaller ones. 6.47% of $6,000 is $389 which is larger than 6.47% of $5,000 which is $324 (calculating the cost of a loan is more cumbersome than this but this shows the effect as well).

When compounded overtime, this difference will be even more and thus shows that larger principals cause larger total costs.

7 0
3 years ago
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