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Slav-nsk [51]
4 years ago
14

At December 31, Amy Jo's Appliances had account balances in Accounts Receivable of $309,000 and $600 (credit) in Allowance for U

ncollectible Accounts. An analysis of Amy Jo's December 31 accounts receivable suggests that the allowance for uncollectible accounts should be 5% of accounts receivable. Bad debt expense for the year should be:
Business
1 answer:
MissTica4 years ago
5 0

Answer:

Bad debt expense  $ 14.850

Explanation:

Initial Balance    

Accounts Receivable  $ 309.000  

Allowance for Uncollectible Accounts  $ 600  

Should be 5% of the Accounts Receivables    

Allowance for Uncollectible Accounts  $ 15.450

We must calculate the difference between the actual balance and the must be balance.

Adjustment entry

Bad debt expense  $ 14.850  

Allowance for Uncollectible Accounts  $ 14.850

END Balance    

Accounts Receivable  $ 309.000  

Allowance for Uncollectible Accounts  $ 15.450  

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What is one medical use for x-rays​
MakcuM [25]

Answer:

X-rays can be used to see what areas of a bone a broken or injured. It helps understand what parts of the body may have injuries.

Hope this helps.

6 0
3 years ago
Fashion house uses the retail method to estimate ending inventory in his monthly financial statements the following information
IgorC [24]
If we used the retail method to estimate the ending inventory first we get the given of the problem that can be used in solving.
 Given
  Sales - 200,000
  Goods available for sale - 261,000 (cost) & 450,000 (retail) 

First, we need to get the cost of retail ratio. the formula is 
 Cost to Retail ratio= Cost/ Retail
           261,000
CRR= -------------   =   0.58
           450,000

Next is to get the ending inventory by following this steps
                                                              Cost             Retail
Cost of Goods Available for Sale    $261,000        $450,000
- Sales                                                                        $200,000
                                                                                  ------------------
Ending Inventory                                                        $250,000
x Cost to Retail Ratio                                                           .58
                                                                                  ------------------
Ending Inventory                                                       $145,000

So, the estimated ending inventory for the month of July is $145,000. 
4 0
3 years ago
Flawless Cosmetic Company manufactures and distributes several different products. The company currently uses a plantwide alloca
IgorC [24]

Answer:

Option (D) is correct.      

Explanation:

Total Overhead Cost:

= (Overhead × Number of cases) for all products

= (20 × 350) + (25 × 550) + (17 × 650)

= 31,800

Total Machine Hours:

= Machine hours × Number of cases

= (5 × 350) + (3 × 550) + (4 × 650)

= 6,000

Overhead Rate:

= Total Overhead Cost ÷ Total Machine Hours

= 31,800 ÷ 6,000

= 5.30

Total product cost per case for Product GC:

= Direct Material + Direct Labor + Overhead

= 80 + 30 + (Machine hours × Overhead Rate)

= 80 + 30 + (3 × 5.3)

= 80.00 + 30.00 + 15.90

= $125.90

4 0
3 years ago
Sandy, the manager of the accounting department of the business where she works, is going on vacation for two weeks. During a st
Butoxors [25]

Answer:

c.She has distributed power in the organization by delegation.

Explanation:

Delegation is the act of transferring responsibilities by a person with authority to another person. It is the action of a person with authority assigning another person their duties temporarily. Delegation in an organization is only one way, from a senior officer to their junior. It can happen at any level in the management hierarchy.  

Delegating duties will involve the transfer of limited powers. In the case of Sandy, she has delegated her duties to other staff members. She has given them powers to respond to questions on her behalf. Even though Sandy will not be performing her duties, she is still responsible for what happens while she is away.

The delegating authority must ensure they delegate only to people with the ability to perform the assigned tasks. They must also supervise the work they have handed over.  

6 0
3 years ago
If fixed costs increased and variable costs per unit decreased, the break-even point would_______________.
Aleksandr-060686 [28]

Answer:

The correct option is D,cannot be determined from the data provided

Explanation:

Break-even points in units=fixed costs/contribution margin per unit

Contribution margin per unit =selling price -variable cost

In other words, from the scenario, it is clear that the numerator fixed costs has increased and also a reduction in variable cost per unit implies an increase in contribution margin per unit since a lesser variable cost is being deducted from selling price.

The impact of both increases in fixed costs and contribution margin cannot be determined except if more details is provided which will give further guidance regarding which of the two increased at a higher rate compared to the other.

5 0
4 years ago
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