Age Interval Not due Est. Percentage Uncollectible Balance $63,000 2%
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- The shodule g8 aing accounts for a com Prny O1 Year 2020 Account rectuble $20,000 $ So00 at the Estimate bag Current 1-30 daysoverdue 3 1- 60 days ovedue more than 6odays overdue (% 5% to % 20% $2500 31 S00 The aliowance was estimeted by using the stheolole accounta. The allowanre count had a'Jebit balance of g400 befere tHe estimate was made Reouired Prefare the adjusting bat to record bad debt expense for 2 entryPachel corpolatian re Ports the per teining vecevicable Days Past Due 3-60 followinginfamethon to iti accounts cuNent 1-30 ever90 $2500 1200. $2000 Jhe companys cradit depaltment Plovided the following statement estima ter vegarding the pocent of occounts enfc ted to eventuallyy be writtenoff form. each category current veceveiNable receivables -30 days past due listed aboue aut standing rELENables 31-ho days past due 16 feceivables 6L-G0 days Pajt due receivable Cuer 20 days due. 90 Recold the company's uncollectible account afsuming it hal expense fredit balance for in its llawance Deuhtful accounts pror to the necessaty maling endjustment.Ajax Corporation has hired Brad O'Brien as its new president. Terms included the company's agreeing to pay retirement benefits of $18,600 at the end of each semiannual period for 10 years. This will begin in 3,285 days. If the money can be invested at 8% compounded semiannually, what must the company deposit today to fulfill its obligation to Brad? (Please use the following provided Table and Table 12.3.) (Use 365 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.) Deposit amount 124,779.35
- AGING ACCOUNT RECEIVABLE ALLOWANCE FOR UNCOLLECTIBLE SCHEDULE AMOUNT UNCOLLECTIBLE AMOUNT 1-30 days $22,000 1% 31-60 days $6,500 2% 61-90 days $300 5% Total Uncollectible Balance Using the aging schedule above, which of the following is the total uncollectible O $500 O $365 O $284.35 $302еВook Wind turbine capital investment analysis Central Plains Power Company is considering an investment in wind farm technology to reduce its use of natural gas. Initial installation costs are expected to be $1,200 per kilowatt-hour of capacity. The wind turbine has a capacity of generating megawatts per hour. A kilowatt-hour is 1,000 watts generated per hour and a megawatt hour is 1,000 kilowatts generated per hour. Annual operating information related to the wind turbine project was developed as follows: Wind capacity factor 25 %* Operating cost per wind turbine megawatt hour $10 Variable operating, fuel, and maintenance costs per natural gas megawatt hour $95 Days per year 365 *A factor that measures the reduction from full capacity due to the variability of wind a. Determine the initial investment cost of the wind turbine. $ 2,400,000 v b. Determine the annual cost savings from the wind turbine in replacing natural gas generation. Round to nearest whole dollar. c. Determine the…Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by table lookup. (Use Table 14.1 and Table 14.1(b).) (Do not round intermediate calculations. Round the "Finance charge" to the nearest cent.) Number of monthly Total of monthly Purchase price of a used car Amount Total finance Down payment APR payments financed payments charge 5,453 $ 1,113 48 24 5,509.76 acer %24 %24
- Age of ReceivablesApril 30, 20X1 (1) (2) (3) (4) Month ofSales Age ofAccount Amounts Percent ofAmount Due April 0–30 $ 131,250 _______ March 31–60 93,750 _______ February 61–90 112,500 _______ January 91–120 37,500 _______ Total receivables $ 375,000 100% a. Calculate the percentage of amount due for each month.uncollectible accounts in each age category are as follows: Age Class Balance Percent Uncollectible Not past due $902,000 3/4% 1-30 days past due 292,000 1 31-60 days past due 98,500 8 61-90 days past due 68,000 16 91-180 days past due 44,700 50 Over 180 days past due 15,500 80 $1,420,700 Estimate what the proper balance of the allowance for doubtful accounts should be as of December 31. Estimated Estimated Uncollectible Accounts Uncollectible Accounts Age Class Balance Percent Not past due $902,000 3/4% 1-30 days past due 292,000 1 31-60 days past due 98,500 8 61-90 days past due 68,000 16 91-180 days past due 44,700 50 Over 180 days past due 15,500 80 Total $1,420,700 Check My Work AmountAmount financed 18200 number of payments 72 monthly payment 425.08 finace charge 12405.76 whats the apr%
- PreviousBalance AnnualPercentageRate (APR)(as a %) MonthlyPeriodicRate FinanceCharge(in $) Purchasesand CashAdvances PaymentsandCredits NewBalance(in $) $2,490.00 % 1 1 4 % $ $1,374.98 $300.00 $Janine is 35 and has a good job at a biotechnology company. Janine estimates that she will need $899,000 in her total retirement nest egg by the time she is 65 in order to have retirement income of $27,500 a year. (She expects that Social Security will pay her an additional $17,000 a year.) She currently has $4,000 in an IRA, an important part of her retirement nest egg. She believes her IRA will grow at an annual rate of 9 percent, and she plans to leave it untouched until she retires at age 65. How much money will Janine have to accumulate in her company's 401(k) plan over the next 30 years in order to reach her retirement income goal? Use Exhibit 1-A. (Round time value factor to 3 decimal places. Round intermediate and final answer to 2 decimal places.) 401(k) accumulationMirror Mart uses the balance sheet aging method to account for uncollectible debt on receivables. The following is the past-due category information for outstanding receivable debt for 2019. 0-30 days 31-90 days Over 90 days past due past due past due Accounts receivable amount $55,000 $34,000 $20,000 Percent uncollectible 8% 15% 30% Total per category ? ? ? Total uncollectible ? To manage earnings more efficiently, Mirror Mart decided to change past-due categories as follows. 0-60 days 61-120 days Over 120 days past due past due past due Accounts receivable Amount $84,000 $13,000 $6,000 Percent uncollectible 8% 15% 30% Total per category ? ? ? Total uncollectible ? Complete the following.
