The answer is he had 177.35 more in credits then in debits
Answer:
The amount of cash paid for intrest expense during the year was $ 41.500.
Explanation:
Cash paid for interest expense = bond interest expense + Decrease in premium on bonds payable account
= $ 40,000 + $ 1,500
= $ 41,500
Therefore, the amount of cash paid for intrest expense during the year was $ 41.500.
Answer:
16,900
Explanation:
Ending Inventory = 30% x 12,000 = 3,600
Beginning Inventory = 30% x 19,000 =5,700
Thus;
19,000 + 3,600 – 5,700 = 16,900
Therefore the Porch Cushion Company need to purchase in August,900 pound of foam of Cushion.
D. anemia
Anemia is a condition in which you lack enough healthy red blood cells to carry adequate oxygen to your body's tissues.
Answer: The adjusting entries for the uncollectible accounts would be as follows: Debit Bad debt expense $277,500; Credit Allowance for doubtful accounts $277,500
Explanation: As provided in the question, bad debt expense is determined by the percentage of sales method. In this instance, it is estimated at 1/4 of 1% of sales. 1% of $102,480,000 = $1,024,800; 1/4 of $1,024,800 = $256,200. Please note that there was an existing debit balance of $21,300 in allowance for doubtful accounts (usually, it should have a credit balance), in order to reinstate the allowance for doubtful account to $256,200, we have to credit it with $277,500 ($256,200 + $21,300), by way of the journals above.
