3. A business s debtors in March total 10 000. During the month of March, the business receives 6,000 from its debtors, and the total of debtors on 31 March is 12000. The credit sales for the month must therefore have been: ...............
Q: Given answer accounting questions
A: Step 1: Definition of Predetermined Overhead RateThe predetermined overhead rate is calculated by…
Q: Can u answer me
A: Explanation of Dividend-in-Kind: Dividend-in-kind refers to a distribution of assets other than cash…
Q: The following information is available for October for Norton Company. Beginning inventory Net…
A: Step 1: Key Information RecapBeginning Inventory: $400,000Net Purchases: $1,200,000Net Sales:…
Q: I won't to this question answer general Accounting
A: Step 1: Define Accounts receivableIt refers to money from a buyer to a seller that has not yet paid…
Q: Do fast answer of this accounting questions
A: Step 1: Definition of Cost per Equivalent Unit of ConversionThe cost per equivalent unit of…
Q: A trader who commenced business on January 1, 2009, reports the purchases and sales revenue for the…
A: To determine the closing inventory figure, we use the following relationship in accounting:…
Q: What is the bond carrying amount on these general accounting question?
A: Step 1: Define Bond Carrying AmountThe bond carrying amount represents the net liability related to…
Q: Please give me answer general accounting
A: Step 1: Introduction to inventory valuationInventory valuation is referred to as that method which…
Q: Choose accurate option. Tagging. general account
A: Calculate Operating Income:Operating Income = Sales - Operating Costs - Depreciation= $9,000 -…
Q: Do fast answer accounting questions
A: The predetermined overhead rate is a rate calculated before the start of a period, used to allocate…
Q: Financial Account - Mitchel Corporation manufactures a single product. Last year, variable costing…
A: Key Concepts: Variable Costing vs Absorption CostingUnder variable costing, fixed manufacturing…
Q: I want to correct answer general accounting
A: 1. Identify the variables:Principal (P): The initial amount invested, which is $3,500.Interest rate…
Q: Subject= General Account
A: We will solve the problem by applying the lower-of-cost-or-market (LCM) rule to determine the…
Q: general accounting problem please solve it
A: Which of the Following Does Not Help Reduce Taxable Income for a Corporation?To determine the…
Q: Hy expert Find the correct answer
A: Step 1: Define Labor Rate VarianceThe labor rate variance is the component of the total labor…
Q: The Amount of the ending inventory is?
A: Gross Profit = Net Sales - Cost of Goods Sold (COGS)And,COGS = Beginning Inventory + Purchases -…
Q: Posted in General account
A: Step 1: High-Low MethodThe High-Low Method identifies the variable cost per unit first. Then, we…
Q: Questions Of Financial Account For its first year of operations, Tringali Corporation's…
A: Calculate Tringali Corporation's deferred income tax liability at the end of its first year of…
Q: Please provide correct answer financial accounting
A: Step 1: Define Net IncomeNet income is the most important indicator of a business's performance as…
Q: Hello tutor please provide this question solution general accounting
A: Step 1:24 Month Note receivable will mature on 30 June 2026, Therefore Interest will be earned in…
Q: Please give me answer general accounting
A: Step 1: Define Account ReceivableThe amount receivable by a business entity from their customer is…
Q: Iris Company has provided the following information regarding two of its items of inventory at…
A: To determine the ending inventory using the lower of cost or net realizable value (LCNRV) on an…
Q: Find out the estimated amount of inventory
A: Explanation of Cost of Goods Available for Sale: Cost of goods available for sale represents the…
Q: Ig variable costs are solved this question general Accounting
A: Understanding the ProblemVariable Costs are costs that change directly with sales. In this case,…
Q: Need answer the financial accounting question please answer do fast and step by step calculation
A: Step 1: Define Price-Sales Ratio and Stock PriceThe price-sales ratio (P/S ratio) is calculated by…
Q: Financial Account Questions
A: Step 1: Calculate Cost of Goods Sold (COGS)Gross Profit = Net Sales - COGS (Arrange the formula to…
Q: Assume that all materials are direct materials
A: Explanation of Direct Materials: Direct materials are raw materials that can be directly traced to…
Q: The actual cost of direct labor solve this question
A: Step 1: Define Standard CostingStandard costing refers to the analysis of budgeted or standard cost…
Q: Provide correct answer general Accounting
A: DefinitionsAccounts Receivable Turnover:This ratio measures how many times a business collects its…
Q: Provide correct answer general accounting
A: Step 1:First calculate the budgeted cost of goods sold for the month of June: Budgeted cost of goods…
Q: A company has earnings per share of solve this general accounting question
A: The price-earnings ratio (P/E ratio) is a financial metric used to evaluate the valuation of a…
Q: General accounting question please solve
A: Step 1: Define PE RatioPrice-earning (PE) ratio is often used as important metric for stock…
Q: What are the nominal and effective costs of trade credit under the solve this question general…
A: Step 1: Define Trade CreditCompany allows the buyer to purchase the goods on credit but there is…
Q: General accounting question
A: Step 1: Net Income can be calculated by preparing the income statement of the firm.First Earnings…
Q: Please provide this question solution general accounting
A: Step 1: Calculate the Gain RealizedStep 2: Calculate the Boot ReceivedStep 3: Determine the…
Q: A product sells for $30 per unit and has a contribution margin ratio of 45%. Fixed expenses total…
A: Step 1: Key FormulasContribution Margin Ratio (CMR): CMR=Selling Price per UnitContribution…
Q: Hello expert please given correct answer
A: Step 1: Define Straight-Line MethodThe straight-line method of depreciation is a simple and commonly…
Q: Assume that Stanford CPAs encountered the following issues during its various audit engagements for…
A: 1. Luck (New Client) - Comparative Financial StatementsOpinion on the Financial Statements…
Q: Accounting Problem 2.5: The balance sheet of Bright Sportswear reports total equity of $500,000 and…
A: Explanation of Balance Sheet: A balance sheet is a financial statement that shows a company's…
Q: Given answer accounting questions
A: Step 1: Define Gross ProfitThe gross profit is surplus revenue over the direct expenses of the…
Q: I need this question answer general accounting
A: Step 1: Define Trade CreditsTrade credits are the amount a business owes to its suppliers, and is a…
Q: Octagonal company has the following information for 2018: solve this general Accounting question
A: Step 1: Define Manufacturing OverheadManufacturing overhead, also known as factory overhead or…
Q: What is the project's expected rate of return on this financial accounting question?
A: Step 1: Define CAPMCapital Asset Pricing Model is a mathematical model used to calculate the…
Q: Provide correct answer financial accounting
A: Step 1: Define Direct MaterialsDirect materials are used right away in the production of the goods.…
Q: Get correct answer general accounting
A: Step 1: Define Direct Labor VariancesTwo direct labor variances are calculated in standard costing;…
Q: Sandhill Industries, Inc. reports the following liabilities (in thousands) on its January 31, 2025…
A: Below is the liabilities section of Sandhill Industries, Inc.'s balance sheet as of January 31,…
Q: Financial Account - In March 2015, Sparrow Corporation hired three individuals Austin, Adam, and…
A: The Work Opportunity Tax Credit (WOTC) is available to employers for hiring individuals from certain…
Q: Given answer accounting questions
A: Step 1: Define Gross Profit MethodRetailers use the gross profit method to calculate the ending…
Q: Financial Accounting Question answer do fast and step by step calculation
A: Step 1: Define Coupon RateThe coupon rate is an annual interest rate that is to determine the annual…
Q: Financial accounting questions
A: Understanding the ComponentsSales: This is the total revenue generated from selling goods or…
A business debtors In march solve this accounting questions
Step by step
Solved in 2 steps
- Walc Factory is a manufacturer that makes all sales on 30-day credit terms. Annual sales areapproximately $20 million. At the end of 2010, accounts receivable were presented in the company’sbalance sheet as follows:Accounts receivable from clients . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,800,000Less: Allowance for doubtful accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,000During 2011, $115,000 of specific accounts receivable were written off as uncollectible. Of theseaccounts written off, receivables totaling $9,000 were subsequently collected. At the end of 2011,an aging of accounts receivable indicated a need for a $75,000 allowance to cover possible failureto collect the accounts currently outstanding.Walc Factory makes adjusting entries for uncollectible accounts only at year-end.Instructionsa. Prepare the following general journal entries:1. One entry to summarize all accounts written off against the Allowance for…. A company with net credit sales of $960,000, beginning net receivables of $70,000, andending net receivables of $90,000 has days’ sales outstanding closest to:a. 37 days.b. 30 days.c. 34 days.d. 41 days.12. If Hot Tubs Inc. had annual credit sales of P2,027,773 and its days sales outstanding was equal to 35 days, what was its average A/R outstanding? (Use a 365-day year.) A. P5,556 B. P57,143 C. P 97,222 D. P194,444 E. P212,541
- 5. Krackle Korn Inc. had credit sales of $3.500.000 last year and its days sales outstanding was DSO = 35 days. What was its average receivables balance, based on a 365-day year?What is the average collection period?Net sales for the month are W800,000,000 and bad debts are expected to be 1.5% of net sales. What would be the net Accounts receivable on the balance sheet? A. W800,000,000. B. W78,800,000 C. W12,000,000. d D. W31,000,000 O O
- X Company had credit sales of $700,000 during the year. End of year accounts receivable was $60,000 and beginning accounts receivable was $40,000. Compute the company's receivables turnover ratio. a. 0.07. b. 11.7. c. 14.0. d. 17.5. e. 35.0.Waters Department Store had net credit sales of $16,000,000 and cost of goods sold of $12,000,000 for the year. The average inventory for the year amounted to $2,000,000. The average number of days in inventory during the year was .....................................he credit manager of Montour Fuel has gathered the following information about the company’s accounts receivable and credit losses during the current year: Net credit sales for the year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $8,000,000 Accounts receivable at year-end . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,750,000 Uncollectible accounts receivable: Actually written off during the year . . . . . . . . . . . . . . . . . . . . . . . . . $96,000 Estimated portion of year-end receivables expected to prove uncollectible (per aging schedule). . . . . . . . . . . . . . . . . . . . . . . . 84,000 180,000 Prepare one journal entry summarizing the recognition of uncollectible accounts expense for the entire year under each of the following independent assumptions: a. Uncollectible accounts expense is estimated at an amount equal to 3.5 percent of net credit sales. b. Uncollectible accounts expense is recognized by adjusting the balance in the Allowance…
- The credit manager of Montour Fuel has gathered the following information about the company’s accounts receivable and credit losses during the current year: Net credit sales for the year……………… $8,000,000 Accounts receivable at year year-end………………. 1,750,000 Uncollectible accounts receivables: Actually written off during the year…………… $96,000 Estimated portion of year end receivables expected to prove Uncollectible (per aging schedule) 84,000 180,000 Prepare one journal entry summarizing the recognition of uncollectible accounts expense for the entire year under each of the following independent assumptions. a. Uncollectible accounts expense is estimated at an amount equal to 2.5 percent of net credit sales. b. Uncollectible accounts expense is recognized by adjusting the balance in the allowance for Doubtful Accounts to the amount indicated in the year end aging schedule. The balance in the allowance…If Hot Tubs Inc. had annual credit sales of P2,027,773 and its days sales outstanding was equal to 35 days, what was its average A/R outstanding? (Use a 365-day year.) A. P 5,556 B. P 57,143 C. P 97,222 D. P194,444 E. P212,541General finance