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2 years ago

Handel Company uses the allowance method for estimating uncollectible accounts.

Business

1 answer:

NikAS [45]2 years ago

8 0

Answer:

Entries are given below

Explanation:

January 5 - Sold Merchandise

DEBIT CREDIT

Receivable - Terry $2,000

Sales Revenue $2,000

April 15 - Received $600 from terry

DEBIT CREDIT

Cash $600

Receivable - Terry $600

August 21 wrote off uncollectable debt

DEBIT CREDIT

Allowance for debt (2000-400) $1,400

Receivable - Terry $1,400

October 5 Received a check

DEBIT CREDIT

Receivable - Terry $300

Allowance for doubtful debt $300

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If a sales-volume variance was caused by poor-quality products, then the ________ would be in the best position to explain the v

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Answer: production manager

Explanation: Production manager is that individual in an organisation that is responsible for production process. A production manager is responsible for making the product on time with the appropriate amount of quantity demanded and as per the quality standards fixed.

Thus, if there is a variance due to poor quality of products then a production manager will be the answering authority.

Hence , the right option is A.

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1 year ago

Joe bought a stock at $57 per share. the price promptly fell to $55. joe held on to the stock until it again reached $57, and th

ki77a [65]

When buyers purchase stock at a certain price, and it falls, and then rises back up to its original purchased price, this is called the weak- form EMH. The weak form EMH states that market and securities are random in nature and are not influenced by past events in stock levels.

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1 year ago

YASHARI earns $27,000 per year, is single, and lives in Wyoming. She has $7000 in subsidized loans and another $19,000 in unsubs

Delvig [45]

Answer:

a) 14.43% , The amount is reasonable

b) Pay as you go

c) Yashari should should prioritize paying the Loan instalment before saving for the emergency fund

d) Standard repayment plan

Explanation:

Yashari Monthly take-home pay = $1850

a) Determine the % of her paycheck goes toward student loans if she chooses standard repayment

Rate of interest = 4.30%

hence % of her paycheck that goes toward student loan = 14.43%

The repayment amount = $32035. which is very reasonable as well

b) what plan that has the longest repayment period

PAYE ( pay as you earn ) has the longest repayment period

c) prioritizing between her emergency fund goal and student loan

Yashari should should prioritize paying the Loan instalment before saving for the emergency fund because of the penalties that comes with loan defaulting

d) Yashari should select the Standard repayment plan because the final amount paid using this plan is lower

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1 year ago

Mason Corporation had $650,000 in invested assets, sales of $700,000, income from operations amounting to $99,000, and a desired

Svet_ta [14]

Answer:

a) 14.1%

b)1.08

c)$1500

Explanation:

Given invested assets = $650,000

Sales = $700,000

operation's income = $99,000

a)Profit margin = net income/revenue × 100%

Net income = operations income = $99000

Total revenue = sales = $700000

Profit margin = $99000/$700000×100%

Profit margin = 14.1%

b) investment turnover is the ratio of the net sales to the sum of equity and debt.

Net sales = $700000

Debt = $650,000 = invested assets

Investment turnover = Net sales/debt

Investment turnover = 700000/650000

Investment turnover = 1.08

c) residual income is the income generated after all debts and expenses has been paid.

Residual income = income from operations - returns of investment

Income from operations =$99000

Return on investment = 15% of $650000 = $97500

Residual income = $99000-$97500

Residual income =$1500

7 0

2 years ago

Read 2 more answers

Roy Company manufactures a product in Departments A and B. Materials are added at the beginning of the process in Department B.

slamgirl [31]

Answer:

Number of equivalent units= 18,000

Explanation:

Giving the following information:

Conversion costs for Department B were 50% complete concerning the 6,000 units in the beginning work in process and 75% complete for the 8,000 units in the ending work in process. A total of 12,000 units were completed and transferred out of Department B during February.

With the information provided, we can calculate the number of equivalent units of the period.

Beginning work in process = 6,000*0.5= 3,000

Units started and completed = 12,000 - 3,000= 9,000

Ending work in process completed= 8,000*0.75= 6,000

Number of equivalent units= 18,000

6 0

2 years ago