Business, 13.06.2020 17:57 Clerry

Aging of Receivables Schedule The accounts receivable clerk for Kirchhoff Industries prepared the following partially completed aging of receivables schedule as of the end of business on August 31: Not Days Past Due Past Over Customer Balance Due 1-30 31-60 61-90 90 Academy Industries Inc. 3,000 3,000 Ascent Company 4,500 4,500 Zoot Company 5,000 5,000 Subtotals 1,050,000 600,000 220,000 115,000 85,000 30,000 The following accounts were unintentionally omitted from the aging schedule and not included in the preceding subtotals: Customer Balance Due Date Conover Industries $30,000 March 22 Keystone Company 18,000 July 1 Moxie Creek Inc. 9,000 July 25 Rainbow Company 26,400 September 10 Swanson Company 46,600 August 3 a. Determine the number of days past due for each of the preceding accounts as of August 31. If an account is not past due, enter 0.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 11:00

Down under products, ltd., of australia has budgeted sales of its popular boomerang for the next four months as follows: unit salesapril 74,000may 85,000june 114,000july 92,000the company is now in the process of preparing a production budget for the second quarter. past experience has shown that end-of-month inventory levels must equal 10% of the following month’s unit sales. the inventory at the end of march was 7,400 units.required: prepare a production budget by month and in total, for the second quarter.

Answers: 3

Answer

Business, 22.06.2019 15:20

Garfield corporation is considering building a new plant in canada. it predicts sales at the new plant to be 50,000 units at $5.00/unit. below is a listing of estimated expenses. category total annual expenses % of annual expense that are fixed materials $50,000 10% labor $90,000 20% overhead $40,000 30% marketing/admin $20,000 50% a canadian firm was contracted to sell the product and will receive a commission of 10% of the sales price. no u.s. home office expenses will be allocated to the new facility. the contribution margin ratio for garfield corporation is

Answers: 2

Answer

Business, 22.06.2019 23:30

An outside supplier has offered to sell talbot similar wheels for $1.25 per wheel. if the wheels are purchased from the outside supplier, $15,000 of annual fixed overhead could be avoided and the facilities now being used could be rented to another company for $45,000 per year. direct labor is a variable cost. if talbot chooses to buy the wheel from the outside supplier, then annual net operating income would:

Answers: 1

Answer

Business, 23.06.2019 00:50

On january 1 of the current year, jimmy's sandwich company reported owner's capital totaling $128,000. during the current year, total revenues were $106,000 while total expenses were $95,500. also, during the current year jimmy withdrew $30,000 from the company. no other changes in equity occurred during the year. if, on december 31 of the current year, total assets are $206,000, the change in owner's capital during the year was:

Answers: 3

Answer

You know the right answer?

Aging of Receivables Schedule The accounts receivable clerk for Kirchhoff Industries prepared the fo...

Questions