What type of business is owned by one person

During the year, credit sales amounted to $820,000. Cash collected on credit sales amounted to $780,000, and $15,000 has bee

Katena32 [7]

Answer:

The ending balance in the Allowance for Bad Debts is 20,500 CREDIT

Explanation:

The ending balance of Allowance for bad debts would be the 2.5% of sales

The adjustment is made to get the allowance for Bad Debt match the estimate uncollectible ammounts.

Notice it state "company adjusted for bad debt expense"

This means it debit this account as much as it needed to be to make allowance match the estimate allowance.

The write-off are transaction durign the period. They are irrelevant

So the ending balance is:

2.5% of credit sales of 820,000 = $20,500

It is important to remember that Allowance is a counter-asset account. His normal balance is credit, so the final balance is credit.

3 0

3 years ago

Lyons Company deducts insurance expense of $210,000 for tax purposes in 2018, but the expense is not yet recognized for accounti

djyliett [7]

Answer:

The total income tax expense for 2019 =152.000. Is not available in the options given by the exercise.

Explanation:

Tax on insurance expense deductible for accounting purposes in 2019= 70000*40%=28.000

Income tax expense for 2019 = 180.000-28.000=152.000

4 0

3 years ago

Suppose that Par, Inc., management encounters the following situations:

Anna11 [10]

Answer:

[a]. 10560, [b]. 14160, [c]. 7668.

Explanation:

[a]. In order to be able to solve this particular question we have to consider what is known as LINEAR PROGRAMMING.

We have the assumption that the function to be equals to 10A + 9B. The first step that we need to take here is to find the constraint for the linear programming relaxation which is;

1/2A + 5/6B $\leq$ 600.

1/10A + 1/4B $\leq$ 135. Thus, A $\geq$ 0 and B

With the help of excel solver and graphs, that we have the profit at $18 we are going have the value of A =300 and B =420. Therefore, the optimal solution = [300,420].

Thus, we have the objective function value to be = 10,560. [that is 10 * 300 + 420 * 18}.

[b]. For option b, where the profit increases to $20, the optimal solution lies on A =708 and B =0. Hence, objective function value = 14,160[ that is 20 * 708 + 0].

[c]. Here, there is increase in the sewing operation capacity to 750 hours. Therefore, we will have the value of A = 540 and B = 252.

Thus, the objective function value = 7668.

8 0

3 years ago

Select the correct text in the passage. Select the sentence indicating the team that would be the most help in determining the k

weqwewe [10]

The correct answer is; She headed up a fourth team, which worked on the best possible distribution channel to reach the ideal customer.

Further Explanation:

Gina has set up four different teams. The first three teams that are described has their own role in the company. The first teams sole job is to find and correctly identify the features of the product. The second team has the role of finding and identifying the best websites that the customers will use. The third team has the role of finding and determining the best price for the perfume that is competitive in the market.

Lastly, the fourth team is has the role of finding the best distribution to reach the perfumes ideal customers. Since they are in the role of finding out how to reach the customer and connect the buyers to the new perfume they will determine the best advertisements.

Learn more about advertisements at brainly.com/question/7593082

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7 0

3 years ago

Quality that measures usefulness vs. price paid is which definition of quality? A. Conformance to specifications B. Fitness for

Fantom [35]

Answer:

C. Value for price paid

Explanation:

The quality of goods are measured with the usefullness of the goods to the consumer and how much he is willing is pay for the product is etermined by the utility of goods to the consumer. Higher amount is paid for the goods, which has higher utility to the consumer and it also define quality to the consumer. Price and utility of product remain the main determinant for the quality.

Value of price paid is determined by utility or usefulness of the product for each dollar paid to buy it.

8 0

3 years ago