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Slav-nsk [51]
3 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:
MissTica3 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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A certificate of deposit offers a nominal interest rate of 3.5 percent annually.
Snezhnost [94]
I’m pretty sure the answer is c
4 0
3 years ago
In May, one of the processing departments at Messerli Corporation had beginning work in process inventory of $18,000 and ending
Evgen [1.6K]

Answer:

$170,000

Explanation:

The computation of the total cost to be accounted is shown below:

= Beginning work in process units + cost of units transferred out

= $18,000 + $152,000

= $170,000

In order to compute the total cost to be accounted we simply added the beginning work in process units and the cost of units transferred out so that the exact value could come

6 0
3 years ago
Childress Company produces three products, K1, S5, and G9. Each product uses the same type of direct material. K1 uses 4.2 pound
Eduardwww [97]

Answer and Explanation:

The computation of the contribution margin per pound for each of the three products is shown below:

As we know that

Selling price per pound - Variable cost per pound = Contribution margin

For Product K1

= $155.8 - $91

= $64.8

For Product S5

= $108.92 - $90

= $18.92

For Product G9

=$205.55 - $136

= $69.55

Now the contribution margin per pound is  

For Product K1 = Contribution margin ÷ Pound  

                       = 64.8 ÷ 4.2  

                       = 15.43 per pound

For Product S5 =  Contribution margin ÷ Pound  

                        = 18.92 ÷ 4.1  

                        = 4.61 per pound

For Product G9 = Contribution margin ÷ Pound

                          = 69.55 ÷ 5.3

                          = 13.22 per pound

6 0
2 years ago
Changes in taxes first cause changes in _____, and thus the government tax multiplier is _____ than the government spending mult
antoniya [11.8K]
<span>Changes in taxes first cause changes in disposable income, and thus the government tax multiplier is smaller than the government spending multiplier.
Spending multiplier, which is also called fiscal multiplier shows or represent the multiple by which GDP increments or declines because of an expansion and reduction in government uses and venture. 
</span>

Tax multiplier<span> refers to the multiple by which GDP increments or declines because of an expansion and reduction in taxes that are charged by governments.The two types of tax multiplier are, simple tax multiplier and complex type multiplier.</span>

8 0
3 years ago
Read 2 more answers
Consider the market for widgets. Widgets can be produced in the United States or abroad. Assume that U.S. consumers wish to buy
Tomtit [17]

Answer:

$10

Explanation:

Price    Q Demanded      Q Supplied Domestically    Q Supplied by Importers  $6              13,000                        2,000                                        8,000

$7               12,000                       4,000                                        8,000

$8               11,000                        6,000                                        8,000

$9               10,000                       8,000                                        8,000

<u>$10              9,000         =             9,000 </u><u>  </u>                                     8,000

$11               8,000                       10,000                                        8,000

If there is no international trade allowed, then we should look for the price at which the quantity demanded is equal to the quantity supplied by domestic producers. At $10 per widget, the total quantity demanded is 9,000 units and the total quantity supplied by domestic producers is 9,000 units.

6 0
3 years ago
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