A company’s sales this year and last year are identical. Given this fact, what would cause...
A company’s sales this year and last year are identical. Given this fact, what would cause a 2.7% increase in accounts receivable as a percentage of sales?
a-The company has produced more inventory than the year before,
*b-The company has collected more in receivables than the year before,
c-The company has produced less inventory than the year before,
d- The company has collected less in receivables than the year before.
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A company’s sales this year and last year are identical. Given
this fact, what would cause...
the year, a company has the following accounts receivable and estimates of 2. At the end...
the year, a company has the following accounts receivable and estimates of 2. At the end of the year, a company has the follow uncollectible accounts: s not yet due - $70,000, estimated uncollectible = 4%. 2. Accounts 1-30 days past due $30,000; estimated uncollectible -15%. 3. Accounts more than 30 days past due = $5,000; estimated uncollectible = 40%. Record the year-end adjustment for uncollectible accounts, assuming the current balance of the Allowance for Uncollectible Accounts is $1,200 (debit)....
Which of the following would not be used to help a company determine the net realizable...
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A company reports the following amounts at the end of the year before any year-end adjustment)....
A company reports the following amounts at the end of the year before any year-end adjustment). Credit sales for the year Accounts receivable Allowance for uncollectible accounts $129,000 34,000 1,800 (credit) Record the adjustment for uncollectible accounts (1) using the percentage-of-receivables method, assuming the company estimates 11% of receivables will not be collected, and (2) using the percentage-of-credit-sales method, assuming the company estimates 4% of credit sales will not be collected. (If no entry is required for a particular transaction/event,...
Morton Company’s contribution format income statement for last month is given below: Sales (44,000 units ×...
Morton Company’s contribution format income statement for last month is given below: Sales (44,000 units × $23 per unit) $ 1,012,000 Variable expenses 708,400 Contribution margin 303,600 Fixed expenses 242,880 Net operating income $ 60,720 The industry in which Morton Company operates is quite sensitive to cyclical movements in the economy. Thus, profits vary considerably from year to year according to general economic conditions. The company has a large amount of unused capacity and is studying ways of improving profits....
Morton Company’s contribution format income statement for last month is given below: Sales (45,000 units ×...
Morton Company’s contribution format income statement for last month is given below: Sales (45,000 units × $23 per unit) $ 1,035,000 Variable expenses 724,500 Contribution margin 310,500 Fixed expenses 248,400 Net operating income $ 62,100 The industry in which Morton Company operates is quite sensitive to cyclical movements in the economy. Thus, profits vary considerably from year to year according to general economic conditions. The company has a large amount of unused capacity and is studying ways of improving profits....
Morton Company’s contribution format income statement for last month is given below: Sales (41,000 units ×...
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Morton Company’s contribution format income statement for last month is given below: Sales (47,000 units ×...
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Help Save & Exit Submit A company reports the following amounts at the end of the year (before any year-end ad...
Help Save & Exit Submit A company reports the following amounts at the end of the year (before any year-end adjustment). Credit sales for the year Accounts receivable Allowance for uncollectible accounts $129,000 34,000 1,800 (eredit) Record the adjustment for uncollectible accounts (1) using the percentage-of-receivables method, assuming the company estimates 11% of receivables will not be collected, and (2) using the percentage-of-credit-sales method, assuming the company estimates 4% of credit sales will not be collected. (If no entry is...
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Which of the following changes would cause a company’s breakeven point in sales to increase? A) The company’s total fixed costs increases. B)The company’s variable cost per unit decreases. C) The company’s contribution-margin rate increases. D) The company’s selling price per unit increases.
the year, a company has the following accounts receivable and estimates of 2. At the end of the year, a company has the follow uncollectible accounts: s not yet due - $70,000, estimated uncollectible = 4%. 2. Accounts 1-30 days past due $30,000; estimated uncollectible -15%. 3. Accounts more than 30 days past due = $5,000; estimated uncollectible = 40%. Record the year-end adjustment for uncollectible accounts, assuming the current balance of the Allowance for Uncollectible Accounts is $1,200 (debit)....
A company reports the following amounts at the end of the year before any year-end adjustment). Credit sales for the year Accounts receivable Allowance for uncollectible accounts $129,000 34,000 1,800 (credit) Record the adjustment for uncollectible accounts (1) using the percentage-of-receivables method, assuming the company estimates 11% of receivables will not be collected, and (2) using the percentage-of-credit-sales method, assuming the company estimates 4% of credit sales will not be collected. (If no entry is required for a particular transaction/event,...
Help Save & Exit Submit A company reports the following amounts at the end of the year (before any year-end adjustment). Credit sales for the year Accounts receivable Allowance for uncollectible accounts $129,000 34,000 1,800 (eredit) Record the adjustment for uncollectible accounts (1) using the percentage-of-receivables method, assuming the company estimates 11% of receivables will not be collected, and (2) using the percentage-of-credit-sales method, assuming the company estimates 4% of credit sales will not be collected. (If no entry is...
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