Answer it answer it answer it
Answers
December
Explanation:
A. Bad debt expense workings
Estimated loss =
0 - 30 days 1% of $90,000 = $900
31 - 60 days 2% of $20,000 = $400
61 - 120 days 5% of $11,000 = $550
121 - 180 days 10% of $6,000= $600
Over 180 days 25% of $4,000 = $1,000
Total Estimated loss = $3,450
Pre-adjusted bal of Uncollectible debt Account = $520
Balance to reflect in the Financial statement will be adjusted to reflect $3,450 just computed.
Addition to the Expense will be $3,450 minus $520 = $2,930
B.
Financial statement Effect template
Cash Asset = -$2,930
+
Non - Cash Asset = $0
=
Liability = $0
+
Contributed Capital = $0
+
Earned Capital -$2,930
C.
Account Receivable as at Dec 31 = $131,000
Less Allowance for uncollectible debts total = -$3,450
Balance Account receivables = $127,550
Explanation:
LaFond Company
Bad debt expense are combination of both doubtful and uncollectible debts within a financial year.
A debt becomes doubtful based on previous trends around debt collections. From the question for example 0 - 30days aged debt is doubtful of 1% uncollectibility, and 31 - 60 days aged debt is 2% etc.
A debt is written off as bad if it is adjudged to be uncollectible.
Explanation:
Depreciation is the systematic allocation of the cost of a machine over its useful lifetime.
There are different types of depreciation like the straight line , double declining and the units of production method.
Workings
Depreciable amount = 120,000-5000 = 115,000
Useful life = 4 years
Depreciation rate = 115000/4 = 25% = 28,750
2015 2016 2017 2018
Straight line depreciation 28,750 28,750 28,750 28,750
Double declining
Double declining rate = 25%*2 = 50%
2015 = 50% * 115,000= 57,500
2016
Opening book value = 115,000-57,500 = 57500
Depreciation = 57,500*50% = 28,750
2017
Opening book value = 57500-28,750 =28750
Depreciation = 50%*28,750 =14,375
2018
Opening book value 28750-14375 = 14375
Depreciation = 14375*50% = 7188
Units of production
2015 = 280000/1150,000*115,000 = 28,000
2016 =430,000/1150000*115000 = 43,000
2017= 360000/1150000*115000 = 36,000
2018 = 80,000/1150000*115000 = 8000
B
IF the machine was bought on July 1, 2015
Straight line depreciation
2015 = (25%*115000 ) /2 = 14,375
2016 =25%* 115,000 = 28,750
2017 = 25%*115000 = 28750
2018 = 25%*115,000 =28750
2019 =(25%*115000)/2 = 14,375
Double declining method
2015
(115,000*50,000)/2 =28750
2016
Opening book value =115,000-28750 =86250
Depreciation = 50%*86250 = 43,125
2017
Opening book value =86250-43125 =43125
Depreciation = 43,125*50% = 21,563
2018
Opening book value
43125-21563 =21562
Depreciation = 21562*50% =10,781
2019
Opening book value = 21562-10781 =10781
Depreciation = 50%*10781 = 5391
I got you the answer is D
Step-by-step explanation:
To find inverse, switch x and f(x) and solve for the new f(x), the new f(x) is the inverse.
original function: f(x)=(1/2)x+4
switch: x=(1/2)f(x)+4
f(x)=2x-8, this is the answer for question 1
answer for question 2: 1-b, 2-d, 3-f, 4-c, 5-e, 6-a
question 3
From the given graph, we know the slope is 2/5, the y intercept is -2, so the original function is f(x)=(2/5)x-2
switch x and f(x): x=(2/5)f(x)-2
solve for f(x): (2/5)f(x)=x+2
multiply both side by 5/2: f(x)=(5/2)x+5,
so the second choice is the correct answer.
December
Explanation:
Christmas