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Salsk061 [2.6K]
1 year ago
8

At the beginning of the current period, Kingbird Corp. had balances in Accounts Receivable of $192,800 and in Allowance for Doub

tful Accounts of $8,520 (credit). During the period, it had net credit sales of $722,500 and collections of $708,940. It wrote off as uncollectible accounts receivable of $7,972. However, a $3,275 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $22,740 at the end of the period. (Omit cost of goods sold entries.) Collapse question part (a - d) (a) Prepare the entries to record sales and collections during the period. (b) Prepare the entry to record the write-off of uncollectible accounts during the period. (c) Prepare the entries to record the recovery of the uncollectible account during the period. (d) Prepare the entry to record bad debt expense for the period.
Business
1 answer:
Delicious77 [7]1 year ago
3 0

Kingbird Corp

A.

Dr Account Receiveable $722,500

Cr Sales Revenue $722,500

B.

Dr cash $708,940

Cr Account receivable $708,940

C.

Dr Bad debt expense $14,220

($22,740-$8,520)

Cr Allowance for Doubtful Account $14,220

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A company made a profit of $25,000 over a period of 5 years on an initial investment of $10,000. What is its annualized ROI?

Answer: Out of all the options shown above the one that best represents the annualized ROI is answer choice C) 30%. To solve this you first need to determine the data that will be needed to solve it. In this case the initial investment which is 10,000, the total profit: 25,000, and finally the total number of years: 5. Then we simply use the following formula: Return on Investment = (Gain from Investment - Cost of Investment)/ cost of investment. You then multiply the result by 100% and finally divide by the number of years which in this case is 5.

I hope it helps, Regards.
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Giving a retailer an incentive to sell your product/service is the responsibility of which of the marketing mix?
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melisa1 [442]

Answer: $22.22

Explanation:

We can use the dividend discount model to solve for this.

The formula is,

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We do not have the expected return but we can calculate for it using the old stock price and growth rate. Making it x we have,

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Your landlord has held one month's rent of $875 as a security deposit from which any damage repair will be deducted. You have le
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<u>Answer:</u> $455

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So from the above calculations it is clear that $455 would be returned to me by the landlord.

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