How can u prove that the traditional technology is the foundation of modern technology short answer

A company has budgeted direct materials purchases of $300,000 in July and $480,000 in August. Past experience indicates that the

enyata [817]

Answer: $696,000

Explanation:

Given the following;

JULY direct material purchase = $300,000

AUGUST BUDGET

direct material purchase =$480,000

Selling and administrative expenses = $48,000

Depreciation expense = $36,000

Purchase of office equipment = $72,000

Wages expenses = $150,000

Only 70% of the amount of purchases made in a month being paid that month. The remaining 30% paid the next month

Therefore, total Budgeted cash disbursement for the month of August will include ;

30% of July purchase

0.3 × $300,000 = $90,000

70% of August direct material

0.7 × $480,000 = $336,000

Wage expense = $150,000

Office equipment purchase =$72, 000

Selling and administration expenses = $48,000

= $(90,000 + 336,000+ 150,000+72,000+ 48,000) = $696,000.

3 0

2 years ago

Mazie Supply Co. uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $127,

Zepler [3.9K]

Answer:

Journal entries

(a)

Dr. Bad Debt Expense $4,207

Cr. Allowance for Doubtful Accounts $4,207

(b)

Dr. Bad Debt Expense $5,737

Cr. Allowance for Doubtful Accounts $5,737

Explanation:

Bad debt Expense will be calculated using the percentage of debt loss. The expense will be calculated using the account receivable balance.

Closing Value of the Allowance for Doubtful Accounts will be as follow

Closing Balance = $127,500 x 5% = $6,375

(a)

As Allowance for Doubtful Accounts already have balance of $2,168, we need to adjust the remainder to make the closing balance of Allowance for Doubtful Accounts $6,375 at the year end.

Adjustment Value = $6,375 - $2,168 = $4,207

(b)

As Allowance for Doubtful Accounts already have balance of $638, we need to adjust the remainder to make the closing balance of Allowance for Doubtful Accounts $6,375 at the year end.

Adjustment Value = $6,375 - $638 = $5,737

8 0

2 years ago

Financial information for American Eagle is presented in Appendix A at the end of the book. Required: 1-a. Calculate the current

jasenka [17]

Answer:

Find the appendix attached:

Current ratio improved in 2018 from 1.83 in 2017 to 2.00 in 2018

Acid test ratio improved in 2018 from 1.10 in 2017 to 1.18 in 2018

The payment of $100 million accounts payable would make current ratio in 2017 improve from 1.83 to 2.03 and in 2018 from 2.00 to 2.25

The payment of $100 million accounts payable would make acid test ratio in 2017 from 1.10 to 1.12 and in 2018 from 1.18 to 1.22

Find computations below.

Explanation:

2018 2017

Current ratio

Current assets/current liabilities

$968,530/$485,221 2.00

$901,229/$493,783 1.83

Current ratio improved in 2018 from 1.83 in 2017 to 2.00 in 2018

2018 2017

Acid test ratio

(Current assets-inventory)/current liabilities

($968,530-$398,213)/$485,221 1.18

($901,229-$358,446)/$493,783 1.10

Acid test ratio improved in 2018 from 1.10 in 2017 to 1.18 in 2018

Impact of $100,000,000 cash used in settling accounts payable:

2018 2017

Current ratio

Current assets/current liabilities

($968,530-$100,000)/($485,221-$100,000) 2.25

($901,229-$100,000)/$493,783-($100,000) 2.03

The payment of $100 million accounts payable would make current ratio in 2017 from 1.83 to 2.03 and in 2018 from 2.00 to 2.25

2018 2017

Acid test ratio

(Current assets-inventory)/current liabilities

($968,530-$398,213-$100,000)/($485,221-$100,000) 1.22

($901,229-$358,446-$100,000)/($493,783-$100,000) 1.12

The payment of $100 million accounts payable would make acid test ratio in 2017 from 1.10 to 1.12 and in 2018 from 1.18 to 1.22

Download xlsx

5 0

2 years ago

vinyl lynings, inc. contracts to resurface the insides of the pools at waterworld park. vinyl lynings knows that without the re

ser-zykov [4K]

They can recover the lost revenue that they would have expected to earn if their park had been open on time.

4 0

2 years ago

Knowledge Check 01 Last year, Mountain Top, Inc., purchased a coal mine at a cost of $900,000. The salvage value has been estima

miss Akunina [59]

Answer and Explanation:

The Journal entry is shown below:-

Depletion expense - Coal Deposit Dr, $280,000

(($900,000 - $100,000) ÷ 200,000) × 70,000

To Accumulated depletion -Coal Deposit $280,000

(Being depletion expense for the current year is recorded)

For recording the depletion expense for the current year we simply debited the Depletion expense - coal deposit as it increased the expenses and we credited the accumulated depletion -coal deposit as it reduced the value of the assets

6 0

2 years ago

How can u prove that the traditional technology is the foundation of modern technology short answer​

How can u prove that the traditional technology is the foundation of modern technology short answer