madleneinejessup
09.04.2020 •
Business
At the end of the current year, Accounts Receivable has a balance of $2,150,000; Allowance for Doubtful Accounts has a debit balance of $10,500; and sales for the year total $51,850,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $110,000.
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Ответ:
The amount for adjusting entry of uncollectible accounts is $120,500.
The adjusted balance of accounts receivable shall be $2,150,000.
The adjusted credit balance for the allowance of doubtful accounts is $110,000.
The adjusted debit balance of bad debts expense is $120,500.
The net realizable value of accounts receivable is $2,040,000.
Explanation:
step 1. The allowance for doubtful accounts = unadhusted balance plus adjusted balance
= $10500 plus $110000 = $120500
The amount of adjusting entry for uncollectible accounts is $120500
step 2. the adjusted balance of accounts receivable shall be $2150000
The unadjusted balance of accounts receivable will also be the adjusted balance of accounts receivable as there is no bad debt expense that is to be adjusted from accounts receivable. Therefore, the adjusted balance at the end of the current year is $2,150,000.
step 3. The allowance for doubtful accounst is as follows
Adjusted balance = bad debt minus unadjusted balance
= $120500 minus $10500 = $110000
The adjusted credit balance for the allowance of doubtful accounts is $110,000.
step 4. adjusted bad debt expense = $10500 plus $110000 = $120500
The adjusted debit balance of bad debts expense is $120,500.
step 5. net realizable value = $2150000 minus $110000 = $2040000
The net realizable value of accounts receivable is $2,040,000.
Ответ:
Point 1:
At the price of $10, the offer is 2*1,000 shoes => (10, 2,000)
At the price of $25, the offer is 10*1,200 shoes => (25, 12,000)
At the price of $40, the offer is 10*1400 + 4*500 => (40, 16,000)
Then you have three points. You can check that their are not aligned because when you increase the price $15 from 10 to 25 the offer increases in 10,000 shoes; but when you increase the price $15 from 25 to 40, the offer increases 4,000.
To draw the grpah:
- use a perpendicular coordinate system with the price in the horizontal axis and the offer in the vertical axis,
- lable the horizontal axis with the prices from 10 to 50 and the vertical axis with the offers from 1,000 to 18,000.
- draw the three calculated points (10; 2,000) , (25; 12,000) and (40; 16,000)
- draw a curved line that passes through the three points.
Ther you have the graph.