Debtors (before bad debt write off) RM240,000
Bad debt write off RM5,000
Balance Allowance Doubtful Debt Account on 31 Dec 2019 RM500 (credit)
Based on experience, ACT Fast Enterprise expects that uncollectible debt is 5% from the debtors balance.
Required:
In: Accounting
Ramakrishnan, Inc., reported 2021 net income of $45 million and depreciation of $2,950,000. The top part of Ramakrishnan, Inc.’s, 2021 and 2020 balance sheets is reproduced below (in millions of dollars): 2021 2020 2021 2020 Current assets: Current liabilities: Cash and marketable securities $ 50 $ 17 Accrued wages and taxes $ 31 $ 26 Accounts receivable 85 83 Accounts payable 95 90 Inventory 173 126 Notes payable 90 85 Total $ 308 $ 226 Total $ 216 $ 201
Calculate the 2021 net cash flow from operating activities for Ramakrishnan, Inc. (Enter your answer in dollars not in millions.)
In: Finance
More Americans are approving of the way that Donald Trump is managing his job of being President of the United States of America. In an American Research Group poll of February 2020, American voters were at 37% approval, 59% disapproval. As of March 2020, 35% approved of the way President Trump was handling his job and 62% were disapproved. The poll consisted of 246 Republicans, 358 Democrats, 391 independents, and 105 non-voters and was sample dates were taken from March 16th to March 19th of 2020
In: Statistics and Probability
On December 31st, 2020, Winterfell Corporation had the following account balances before adjustments: Debit Credit Accounts Receivable 325,000 Allowance for Doubtful Accounts 1,250 Credit Sales 1,645,000 Required Assume that uncollectible accounts are estimated to be 5% of accounts receivables. Prepare the necessary adjusting entry with December 31, 2020 as the entry date. Following the adjusting entry, what is the total that will appear on the Balance Sheet for Allowance for Doubtful Account? Assume that uncollectible accounts are estimated to be 2% of credit sales. Prepare the necessary adjusting entry with December 31, 2020 as the entry date. Following the adjusting entry, what is the total that will appear on the Balance Sheet for Allowance for Doubtful Account?
In: Accounting
The prevalence of obesity remains high and affects Americans of all ages. Review the following resource: • United States Department of Health and Human Services (2017). 2020 Topics and objectives: Nutrition and weight status (Links to an external site.)Links to an external site.. Retrieved from: https://www.healthypeople.gov/2020/topics-objectives/topic/nutrition-and-weight-status Initial Discussion Post: • Identify two (2) contributing factors to childhood obesity. • List three (3) ways the nurse could intervene to promote the nutrition and weight status objectives for Healthy People 2020. • Discuss why these objectives are important for individuals or communities. • Identify two (2) contributing factors to adult obesity.
In: Nursing
The prevalence of obesity remains high and affects Americans of all ages. Review the following resource: • United States Department of Health and Human Services (2017). 2020 Topics and objectives: Nutrition and weight status (Links to an external site.)Links to an external site.. Retrieved from: https://www.healthypeople.gov/2020/topics-objectives/topic/nutrition-and-weight-status Initial Discussion Post: • Identify two (2) contributing factors to childhood obesity. • List three (3) ways the nurse could intervene to promote the nutrition and weight status objectives for Healthy People 2020. • Discuss why these objectives are important for individuals or communities. • Identify two (2) contributing factors to adult obesity.
In: Nursing
on january 1 2020 Liu corporation paid $250007 to
aquire bonds of Singh investment Corp. with a par value of $254000.
The annual contract rate on the bonds is 8%. and interest is paid
semiannually on June 30 and Dec. 31. The bonds mature after three
years. The market rate of interest was 7.7 %. Liu Corporation
intends to hold the bonds untill maturnity.
1. prepare an anortization schedule for the investment showing only
2020
2 prepare Liu's entries to record the purchase of the bonds
3. prepare the Liu's entries to prepare to record the reciept of
the first two interest payments.
4. show how the investment will appear on dec. 31, 2020 balance
sheet
In: Accounting
Ariel owns 70% of Sabastian. During 2019, Sabastian sold 1000 units of Inventory to Ariel for $70 each. The units cost $50 to produce. A 12/31/2019 inventory count indicates that 300 units remained in Ariel's inventory. Sabastian reported a $50,000 net income in 2019 and a $70,000 net income in 2020. No internal sales were made in 2020. Ariel should recognize investment income in 2020 for which of the following amounts?
Investment in Sabastian $44,800
...Investment Income $44,800
Investment in Sabastian $49,000
...Investment Income $49,000
Investment in Sabastian $53,200
...Investment Income $53,200
Investment in Sabastian $63,000
...Investment Income $63,000
In: Accounting
The following is the income statement for Daisy’s Day Care Limited for the month ended March 31, 2020: Daisy’s Day Care Limited Income Statement Month Ended March 31, 2020
Revenue $ 20,000
Expenses: Food 6,000
Heat and lights 800
Office Supplies 200
Childcare supplies 1,000
Wages 8,000
Total expenses 16,000
Operating income $ 4,000
20% of the childcare supplies and 25% of the wages are fixed while the remaining amounts are variable. 100% of the food expense is variable.
Required: Based on the above information what would the operating income for the month ended March 31, 2020 be if the income statement was prepared using the contribution margin approach?
In: Accounting
In: Finance