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damaskus [11]
3 years ago
8

Your project to obtain charitable donations is now 30 days into a planned 40 day project. The project is divided into 3 activiti

es. The first activity is designed to solicit individual donations. It is scheduled to run the first 25 days of the project and to bring in $25,000. Even though we are 30 days into the project, we still see that we only have 90% of this activity completed. The second activity relates to company donations and is scheduled to run for 30 days starting on day 5 and extending through day 35. We estimate that even though we should have approximately 83% of this activity complete, it is actually on 50 % complete. This part of the project was scheduled to bring in $150,000 in donations. The final activity is for matching funds. This activity is scheduled to run the last 10 days of the project and has not started. It i scheduled to bring in an additional $50,000. So far $175,000 has actually been brought in on the project.
Calculate the schedule variance, schedule performance index, cost variance and cost performance index.
Business
1 answer:
Dima020 [189]3 years ago
7 0

Answer:

i dont see it

Explanation:

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Marigold Corp.'s account balances at December 31, 2020 for Accounts Receivable and the related Allowance for Doubtful Accounts a
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Answer:

The necessary adjusting entry would include a credit to the allowance account for $40080

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<u>Estimated Balances                                         $ 42000</u>

<u>Required  Adjustment                                      $ 40080</u>

<u />

The data tells that the Allowance for Doubtful Accounts  has a credit balance of $1920 the required adjustment to the allowance for doubtful accounts is $ 40080. The required entry is

Bad debts Expense            40,080 Dr.

Allowance for Doubtful Accounts $40,080 credit

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