Business, 10.04.2020 21:09 nanakwameyeb
In the beginning of Year 3 Omega Company had a $52,000 balance in its accounts receivable account and a $1,400 balance in allowance for doubtful accounts. During Year 3, Omega experienced the following events.
(1) Omega earned $220,000 of revenue on account.
(2) Collected $230,000 cash from accounts receivable.
(3) Wrote-off $1,000 of accounts receivable as uncollectible. Omega estimates uncollectible accounts to be 4% of receivables. Based on this information, the amount of net realizable value of receivables shown on the Year 3 balance sheet is?
a. $39,360.
b. $41,000.
c. $42,640.
d. $43,000.
Answers: 1
Business, 22.06.2019 07:10
Walsh company manufactures and sells one product. the following information pertains to each of the company’s first two years of operations: variable costs per unit: manufacturing: direct materials $ 25 direct labor $ 12 variable manufacturing overhead $ 5 variable selling and administrative $ 4 fixed costs per year: fixed manufacturing overhead $ 400,000 fixed selling and administrative expenses $ 60,000 during its first year of operations, walsh produced 50,000 units and sold 40,000 units. during its second year of operations, it produced 40,000 units and sold 50,000 units. the selling price of the company’s product is $83 per unit. required: 1. assume the company uses variable costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 2. assume the company uses absorption costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 3. reconcile the difference between variable costing and absorption costing net operating income in year 1.
Answers: 3
Business, 22.06.2019 10:00
What is the difference between an "i" statement and a "you" statement? a. the "i" statement is non-confrontational b. the "you" statement is non-confrontational c. the "i" statement is argumentative d. the "you" statement is neutral in tone select the best answer from the choices provided
Answers: 1
Business, 22.06.2019 15:00
Which of the following is least likely to a team solve problems together
Answers: 1
In the beginning of Year 3 Omega Company had a $52,000 balance in its accounts receivable account an...
Mathematics, 03.06.2020 00:59
Computers and Technology, 03.06.2020 00:59
Computers and Technology, 03.06.2020 00:59
Biology, 03.06.2020 00:59
Mathematics, 03.06.2020 00:59
Social Studies, 03.06.2020 00:59
English, 03.06.2020 01:57
Mathematics, 03.06.2020 01:57