A researcher in Alaska measured the age (in months) and the weight (in pounds) of a random sample of adolescent moose. When the

Answer:

The following journal entries are provided

Explanation:

June 12, 2021

Rendered services to clients on account for $41,000.

                                    DEBIT        CREDIT

Receivable account    $41,000

Services Revenue                        $41,000

September 17, 2021

Collected $25,000 from clients on account.

                                     DEBIT        CREDIT

Cash                           $25,000

Receivable                                    $25,000

December 31, 2021

Estimate that 45% of accounts receivable by year-end will default.

                                                  DEBIT        CREDIT

Bad debt($16,000x45%)           $7,200

Allowance for doubtful debt                       $7,200

March 4, 2022

Rendered services to clients on account for $56,000

                                    DEBIT        CREDIT

Receivable account    $56,000

Services Revenue                          $56,000

May 20, 2022

Received $10,000 from clients for services rendered in 2021.

                                     DEBIT        CREDIT

Cash                          $10,000

Receivable                                     $10,000

July 2, 2022

Wrote off the outstanding amounts from services provided in 2021.

Calculation: $41,000 - $25,000 - $10,000 = $6,000

                                                               DEBIT        CREDIT

Allowance for doubtful debt               $6,000

Account Receivable                                                 $6,000

October 19, 2022

Received $45,000 from clients for services provided in 2022.

                                   DEBIT        CREDIT

Cash                         $45,000

Receivable                                    $45,000

December 31, 2022

Estimate that 45% of accounts receivable at year-end will not be collected.

                                          DEBIT        CREDIT

Bad debt (w)                     $3,750

Allowance for bad debt                     $3,750

Calculation:

($56,000 - $45,000) x45% = $4,950

Balance in Allowance account at December 31, 2021  = 7,200

Bad debt disposed of                                             = 6,000

Remaining balance                                              = 1,200

Thus, the Allowance for doubtful debt at December 31, 2022 = $4,950 - $1,200

Allowance for doubtful debt at December 31, 2022 = $3,750

Result:

The result is $ 300

Reasoning:

When we subtract 1,500 from 1,200, the result is 250; however, the calculation of multiplying (1,500) by (.20) yields 300, which corresponds to similar pressure.

Answer:

The correct answer is "600000".

Explanation:

The values provided are:

Cost of office furniture,

= $100,000

Cost of the computer system,

= $500,000

• The revised MACRS allows a corporation to gradually reduce the mortgage balance of such depreciating assets.
• In the initial years, MACRS permits accelerated depreciation but then slows down the process. This is advantageous for businesses from a taxation perspective.

Now,

The cost recovery deduction is calculated as:

=

Substituting the values gives us

=

=

Answer:

The question is rephrased to include the options:

A. The production order quantity model applies under conditions where the basic EOQ model's assumptions hold true, except that receiving is not instantaneous.

B. Average inventory exceeds half the quantity of production order.

C. Due to the non-instantaneous receipt, some items are used immediately rather than being stored.

D. All other things being equal, a lower demand rate to production rate ratio results in a smaller production order quantity.

E. All options are true.

The right answer is option B, "Average inventory is more than one-half of the production order quantity."

Explanation:

Having inventory allows for a division within the production stages, separating finished products from those that are not yet completed, potentially generating income for the company.

An average inventory will be less than half of the production order quantity.

The production order quantity model allows for gradual receipt of orders rather than a single bulk delivery.

This model aids companies in managing their inventory holding costs and average fixed ordering expenses, ultimately helping them to check and reduce inventory costs and providing clarity on appropriate production quantities at any time.

Answer:

$9.71

Explanation:

The calculations for the share price are outlined below:-

Current EPS = Net Income ÷ Total Common Shares

= $9,250,000 ÷ 5,500,000

= $1.68

Current P/E ratio = Current stock price ÷ Current EPS

= $12 ÷ $1.68

= 7.14

Projected EPS for next year = $9,250,000 × 1.25 ÷ 8,500,000

= $1.36

Forecasted stock price for next year = $1.36 x 7.14

= $9.71