Answer:
1. Age group = A
Amount of Accounts Receivable = B
Estimated % uncollectible = C
Estimated Amount Uncollectible = D
A B C D(B*C)
Not yet due $270,000 5% $13,500
1-45 days $37,500 10% $3,750
Over 45 days $15,000 15% $2,250
Estimated amount required in Allowance $19,500
for Doubtful Debts (Credit Balance)
Current Balance in Allowance for $67,500
Doubtful Debts (Debit Balance)
Required charge to Bad debts Expense $87,000
for the year
Thus, the Estimated 12/31/2021 balance for Dhaliwal’s allowance for uncollectible accounts (Credit Balance).
2. Journal Entry
Date Accounts and Explanation Debit Credit
Dec. 31 Bad debts Expense $87,000
Allowance for doubtful accounts $87,000
(To record the estimated bad debts)
Based on the amount paid by Mohammad every month, the total payments were $864.
The total amount paid by Mohammad can be found as:
= Amount paid monthly x Number of months
Solving gives:
= 96 x 9 months
= $864.
In conclusion, Mohammad paid $864 in total.
Find out more on debt payments at brainly.com/question/25599836.
Answer:
Amount of total payment is $864.
Explanation:
Principal Amount = $809
Monthly payments = $96
Number of months = 9 Months
Total payment = Monthly Payment x Number of Months
Total payment = $96 x 9 months
Total payment = $864
Extra payment paid with principal = Total Payment - Principal payment
Extra payment paid with principal = $864 - $809
Extra payment paid with principal = $55
the direct labor efficiency variance by subtracting the standard hours for units produced (50,000) from the actual hours used (48,000) and multiplying that by the standard rate per hour ($14.00). This gives us a result of $28,000 unfavorable. The correct option B) $28,000 unfavorable
The direct labor efficiency variance measures the difference between the actual hours used and the standard hours that should have been used based on the units produced.
In this case, the actual hours used were less than the standard hours for units produced, which may indicate that the company was not using its labor resources efficiently. Additionally, the actual rate per hour was higher than the standard rate per hour, which could be a contributing factor to the unfavorable variance.
A favorable variance indicates that the company is using its labor resources efficiently and/or paying a lower rate per hour than expected. On the other hand, an unfavorable variance suggests that the company is not using its labor resources efficiently and/or paying a higher rate per hour than expected.
In this case, the $28,000 unfavorable variance implies that the company needs to improve its labor efficiency and/or negotiate better rates with its employees. Therefore, The correct option B) $28,000 unfavorable
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complete question
the following information describes a company's usage of direct labor in a recent period. the direct labor efficiency variance is: actual hours used 48,000 actual rate per hour$15.00 standard rate per hour$14.00 standard hours for units produced 50,000 multiple choice A) $48,000 unfavorable. B) $28,000 unfavorable. C) $28,000 favorable. D) $20,000 unfavorable. E) $48,000 favorable.