Sheridan Inc. manufactures basketballs for professional basketball associations. For the first six months of 2022, the company reported the following operating results while operating at 90% of plant capacity: Amount Sales $3,600,000 $50.00 Cost of goods sold 2,448,000 3400
Selling and administrative expenses 252,000 3.50 Net income $900,000 $12.50 Fixed costs for the period were cost of goods sold of $720,000, and selling and administrative expenses of $129,600. In July, normally a slack manufacturing month. Sheridan receives a special order for 7,200 basketballs at $30.00 each from the Italian Basketball Association, Accepting the order would increase variable selling and administrative expenses by $0.25 per unit because of shipping costs, but it would not increase fixed costs and expenses. Prepare an incremental analysis for the special order. (Round per unit calculations to 2 decimal places, es 15.25 and final answers to o decimal places, e.3. 125.)

Answer:

Journalism and Broadcasting

Explanation:

I think thats the right answer but I'm sorry if its wrong

The most appropriate layout strategy to use when studying the product-process matrix depends on the type of products being produced and the nature of the production process.

There are four basic types of layouts: process layout, product layout, fixed position layout, and cellular layout. A process layout is most appropriate when producing a variety of products with different processing requirements, while a product layout is best suited for large-scale production of a single product.

Fixed position layout is used when products are too large or heavy to move, and cellular layout is useful for producing families of products with similar processing requirements. To determine the most appropriate layout strategy for a given production process, one should consider factors such as product variety, volume, and processing requirements.

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A company similar to an S corporation but without the special eligibility requirements is a Limited Liability Company (LLC).

LLCs are a popular form of business organization that combines the liability protection of a corporation with the tax benefits of a partnership. Like S corporations, LLCs are pass-through entities, which means that the company's profits and losses pass through to the owners and are taxed at the individual level.

However, unlike S corporations, LLCs do not have special eligibility requirements, such as a limit on the number of shareholders or restrictions on the types of shareholders.

LLCs offer several advantages to small business owners, including liability protection, flexibility in management structure, and fewer formalities compared to corporations. LLC owners, or members, are typically not personally liable for the debts or obligations of the company, and they can choose to manage the business themselves or appoint a manager to oversee operations. Additionally, LLCs are not required to hold regular meetings or comply with other formalities that corporations must follow.

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Organizations typically assign responsibility for tasks and delegate authority based on the principles of span of management, which refers to the number of subordinates that a manager can effectively supervise. The appropriate span of management can vary depending on factors such as the level of hierarchy, the complexity of the tasks, the skills and experience of the manager and subordinates, and the nature of the work environment.

In situations where superiors and subordinates are not in close proximity, the span of management may need to be wider to accommodate the need for frequent communication and interaction. This means that a manager may be responsible for a larger number of subordinates and tasks, but may have less direct oversight over each individual.

Delegating authority involves giving subordinates the power and autonomy to make decisions and take action within their areas of responsibility. This can help to increase efficiency and productivity, as well as promote employee development and job satisfaction. Effective delegation involves selecting the right tasks and subordinates, providing clear instructions and expectations, and establishing appropriate levels of oversight and feedback.

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Complete Question : Span of management is appropriate when superiors and subordinates are not in close proximity, the manager has many responsibilities in addition to the supervision, the interaction between superiors and subordinates is frequent, and problems are common. Determine how organizations  assign responsibility for tasks and  delegate authority?

The necessary adjusting entry for Carlton Company on December 31 would be: Bad Debt Expense $18,000 and Allowance for Doubtful Accounts $18,000

Under the percent of sales method, the company estimates the amount of uncollectible accounts based on a percentage of credit sales. In this case, the company estimates 2% of credit sales to be uncollectible. So, the estimated bad debt expense for the current year would be $900,000 x 2% = $18,000.

To record this adjustment, the Bad Debt Expense account is debited for $18,000 and the Allowance for Doubtful Accounts account is credited for the same amount. The Allowance for Doubtful Accounts account is a contra-asset account that reduces the balance of the Accounts Receivable account to its estimated net realizable value.

This adjustment will ensure that the balance sheet reflects a more accurate estimate of the company's accounts receivable and related bad debt expense.

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Complete question:

Carlton Company uses the percent of sales method to estimate its bad debt expense. Based on past experience, the company estimates 2 percent of credit sales to be uncollectible. At the end of the current year, the company's unadjusted trial balance shows Accounts Receivable of $245,000 and Credit Sales of $900,000 Prepare the necessary December 31 adjusting entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debitor credit columns

According to Sarbanes-Oxley, the audit committee must pre-approve all audit and non-audit services. This can be done: B. Case-by-case basis: Yes; Through established policies: Yes; Delegating the responsibility: No.

According to Sarbanes-Oxley, the audit committee must pre-approve all audit and non-audit services. This can be done on a case-by-case basis or through established policies. However, the responsibility cannot be delegated.
The Sarbanes-Oxley Act of 2002 mandates that audit committees be directly responsible for the oversight of the engagement of the company's independent auditor, and the Securities and Exchange Commission (the Commission) rules are designed to ensure that auditors are independent of their audit clients.

The purpose of this brochure is to highlight certain Commission rules and other authoritative pronouncements relevant to audit committee oversight responsibilities regarding the auditor's independence.
So, option B is the correct answer.

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The answer for the statement ''although it is generally impossible for an organization to anticipate customer service failures, employees can be trained to address mistakes quickly when they occur. '' is True.

While it may be impossible for an organization to anticipate every possible customer service failure, employees can be trained to address mistakes quickly and effectively when they do occur.

This can include providing them with clear guidelines for how to handle customer complaints, offering ongoing training and support to help them improve their communication and problem-solving skills, and empowering them to take ownership of the situation and work collaboratively with customers to find a resolution.

By investing in employee training and development, organizations can not only mitigate the impact of customer service failures but also build stronger relationships with their customers over time.

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In complex interdependence theory, economic interdependence refers to the mutual dependence of states on each other's economies for their well-being.

Economic interdependence is seen as a key element in promoting cooperation and reducing the likelihood of conflict between states. When states have deep economic ties with each other, they are less likely to resort to military force or other forms of coercion to achieve their objectives, as such actions may result in negative economic consequences for both sides. This theory posits that interdependence in one area (such as the economy) can spill over into other areas (such as politics and security), leading to greater cooperation and collaboration among states. Overall, economic interdependence is seen as a means of fostering greater global stability and reducing the likelihood of conflict.

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The process of attempting to ascertain the supply of and demand for various types of human resources is called forecasting.

It involves analyzing various factors such as the organization's goals and objectives, the labor market, industry trends, and workforce demographics to determine the type and number of employees needed to achieve business objectives. Forecasting helps organizations to anticipate future workforce needs, plan for recruitment and retention, and ensure they have the right people in the right roles at the right time. It also helps to identify potential skill gaps and develop strategies to address them. Overall, forecasting is a critical process that enables organizations to make informed decisions about their human resources and achieve long-term success.

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Using the FIFO inventory method, we assume that the units sold are the ones purchased first, and the ending inventory consists of the units purchased last. Therefore, the cost of goods sold for July would be calculated as follows:

- July 1 Beginning Inventory: 18 units at $19 = $342
- July 7 Purchases: 18 units at $19 + 18 units at $20 = $702
- July 22 Purchases: 9 units at $19 + 9 units at $20 + 12 units at $22 = $531
- Total Cost of Goods Available for Sale: $1575
- Cost of Goods Sold: 18 units at $19 + 12 units at $20 = $582

Therefore, the answer is C. $582.

The divisional structure is a common organizational model that groups business units based on products, customers, or geography. There are several advantages to implementing a divisional structure in an organization. Here are four of them:

1. Focus on specific markets: A divisional structure enables companies to focus on specific markets or customer groups. By grouping business units based on products, customers, or geography, companies can better understand their customers' needs and preferences and tailor their strategies to meet those needs.

2. Improved decision-making: In a divisional structure, decision-making is decentralized, and the authority is distributed among various business units. This allows for quicker decision-making, as the decision-making power is closer to the front line. Business units are responsible for their own budgets, resource allocation, and strategy, which means they can respond quickly to changes in the market.

3. Enhanced accountability: In a divisional structure, each business unit is accountable for its own performance. This leads to greater accountability, as business units are responsible for their own results. This can drive increased motivation and a sense of ownership among employees.

4. Flexibility: A divisional structure allows companies to be more flexible and responsive to changes in the market. By organizing business units around specific markets, companies can adjust their strategy quickly in response to changes in customer demand or market conditions.

Overall, a divisional structure can be a powerful way to focus on specific markets, improve decision-making, enhance accountability, and increase flexibility. These advantages can help companies to stay competitive and achieve their business objectives.

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You need to pick the career option , which you enjoy to do. If you have passion for shooting videos you can become a Gacha Tuber, If your passion is action you can take training for becoming Actor or Actress, and lastly if you are interested in paranormal activity you can be a Ghost Hunter. You can take advice form career counsellor as well.

A person's career is a metaphorical "journey" through learning, work, and other elements of life. There are numerous definitions of career, and the term is used in a variety of contexts.

By the late twentieth century, a large range of options and more widespread education had made it easy to plan a career. In this regard, the careers of the career counsellor and career advisor have matured. Adults in the late twentieth/early twenty-first century are also not unusual in having dual or numerous careers, either sequentially or concurrently.

As a result of this shift in work ethic, professional identities have become hybridized.

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The correct answer is B) reduce investment and reduce the current account balance. In a large open economy like the United States, an increased government budget deficit reduces national saving because the government is borrowing more, which leads to less saving for individuals and firms.

As a result, there is less money available for investment, which decreases investment. Additionally, the reduced national saving leads to a reduction in the current account balance, which is the difference between a country's exports and imports.

This happens because with less saving, there is less money available for investment in domestic production, which reduces domestic output and raises imports. Therefore, option B is the correct answer.

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Ashlee's friend owes her $100 but cannot pay it back today. Instead, Ashlee's friend promises to pay her $120 in one year to account for the time value of money. That extra $20 represents the interest rate.

In this case, Ashlee's friend is promising to pay an additional $20 in one year to account for the lost opportunity for Ashlee to invest or use the $100 now. This $20 represent the interest rate. The time value of money is a concept that states that money available now is worth more than the same amount in the future, due to its potential earning capacity.  
1. Ashlee's friend owes her $100 but cannot pay it back today.
2. To account for the time value of money, Ashlee's friend promises to pay her $120 in one year.
3. The additional $20 in one year compensates for the lost opportunity for Ashlee to use or invest the $100 today.
In this scenario, Ashlee agrees to wait for the payment, understanding that the future value of the money will be greater to account for the time value of money.

Your question is incomplete. The complete question may be like this:

"Ashlee's friend owes her $100, but he cannot pay it back today. Instead, Ashlee's friend promises to pay her $120 in one year to account for the time value of money. That extra $20 represents the __________."

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The answer is B) In decentralized organizations is decision-making authority pushed down to its lowest possible level

Decentralized organizations are structured in a way that pushes decision-making authority down to its lowest possible level, allowing employees at various levels to have more autonomy and responsibility in making decisions. This approach empowers employees, which can lead to increased motivation and job satisfaction.

In decentralized organizations, management focuses on providing guidance and support rather than making all the decisions themselves.

In contrast, centralized organizations have a hierarchical structure where decision-making authority is concentrated at the top levels. This means that lower-level employees have little to no decision-making power, and decisions are made by a select few at the top.

Integrated organizations, on the other hand, focus on collaboration and coordination among various departments and functions, with the aim of improving overall efficiency and effectiveness. Lastly, informal organizations are based on unofficial relationships and interactions among employees, which can influence decision-making but are not part of the formal organizational structure.

In summary, decentralized organizations are most likely to push decision-making authority down to its lowest possible level, empowering employees and allowing for greater flexibility in decision-making.

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Accrued revenues: at the end of one accounting period often result in cash payments in the next period. Accrued revenues are recorded at the end of one accounting period and result in cash payments in the next period.

Accrued revenues refer to revenues that have been earned by a business but have not yet been received in cash or recorded in the accounting records.

These revenues may be earned at the end of an accounting period and will result in cash receipts in a future period. This means that the business has performed the service or delivered the product but has not yet received payment for it.

Accrued revenues are often recorded at the end of one accounting period and result in cash payments in the next period. This is because the payment for the service or product is due after the accounting period has ended.

The business will record the accrued revenue as an asset in the current period's balance sheet and will recognize the revenue in the following period when the cash is received.

Accrued revenues should not be confused with unearned revenues, which are payments received in advance for services or products that have not yet been delivered.

Unearned revenues are recorded as liabilities on the balance sheet until the service or product is delivered.

In summary, accrued revenues are earned but unpaid revenues that are recorded at the end of one accounting period and result in cash payments in the next period. They are listed as assets on the balance sheet and are recognized as revenue when cash is received.

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Complete Question:

Accrued revenues: Multiple Choice

Based on the chart provided, the countries whose governments employ more than 17 percent of their labor force market are Finland, Denmark, Sweden, Norway, and Iceland.

Finland has the highest percentage with 22 percent of their labor force market being employed by the government, followed by Denmark with 20 percent, Sweden with 19 percent, Norway with 18 percent, and Iceland with 17 percent.

These countries have a strong tradition of social welfare programs and government intervention in the economy, which results in a larger proportion of the labor force being employed by the government.

However, it is important to note that this may not necessarily indicate a stronger or weaker economy, as the size and role of the government can vary greatly among different countries.

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To estimate the short-run and long-run growth rates for a firm using historical dividend information, we can use the dividend discount model (DDM). The DDM is a method of valuing a stock based on the present value of its future dividends. The formula for the DDM is:

P = D/(r-g)

where P is the current price of the stock, D is the current dividend per share, r is the required rate of return on the stock, and g is the growth rate of the dividends.

To estimate the short-run growth rate, we can look at the historical growth rate of the company's dividends over the past few years. For example, if the company's dividends have grown at an average rate of 5% over the past three years, we can use that as an estimate for the short-run growth rate.

To estimate the long-run growth rate, we can look at the company's historical performance over a longer time period, such as the past 10 years. We can also look at industry trends and the company's future growth prospects to come up with an estimate for the long-run growth rate.

Keep in mind that these estimates are not exact and may be subject to error. It is important to use multiple methods and sources of information to come up with a more accurate estimate of the short-run and long-run growth rates.

Overall, estimating growth rates using historical dividend information can provide a useful starting point for valuing a company's stock, but it is important to consider other factors as well, such as the company's financial performance, industry trends, and macroeconomic conditions.

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The journal entry to establish the petty cash fund on October 1, 2021, will be debit Petty cash fund and credit cash. The journal entry on October 31, 2021, to replenish the petty cash fund will be debit Freight, office supplies & miscellaneous expense, and credit petty cash fund.

a) The journal entry to establish the petty cash fund on October 1, 2021, is:

Debit: Petty Cash Fund $525.00
Credit: Cash $525.00

b) The journal entry on October 31, 2021, to replenish the petty cash fund is:

Debit: Freight-In Expense $143.25
Debit: Office Supplies Expense $141.75
Debit: Miscellaneous Items Expense $148.88
Credit: Petty Cash Fund $433.88

Note that the total of the debit entries should equal the number of cash receipts in the petty cash fund.

c) The necessary separate journal entry to increase the petty cash fund to $600 is:

Debit: Petty Cash Fund $75.10
Credit: Cash $75.10

Note that the amount of the increase ($75.10) is equal to the difference between the desired amount of the petty cash fund ($600) and the actual amount of cash on hand in the petty cash fund ($97.90).

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False. While getting the reactions of new employees is not the only or most comprehensive way to evaluate the effectiveness of an orientation program, it is still a valuable tool in measuring its success.

The reactions of new employees can provide insight into whether the program was engaging, informative, and helpful in easing their transition into their new role. Additionally, their feedback can highlight areas for improvement and help HR and management to refine the program for future hires.

However, it is important to supplement this method with other evaluation techniques, such as tracking retention rates and job performance, to get a more holistic view of the program's impact. Ultimately, a combination of multiple evaluation methods can provide the most accurate and valuable assessment of the effectiveness of an orientation program.

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A manager skilled at evaluating where the company will be in the future and thinking creatively to solve problems has good conceptual skills.

Conceptual skills refer to the ability to understand complex and abstract ideas and think critically to analyze situations and develop innovative solutions.

Managers with strong conceptual skills can see the big picture and envision the future of the company. They can identify trends, evaluate opportunities and threats, and develop strategies to achieve the organization's goals.

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Each time output on work doubles, the worker hours per unit decrease to a fixed percentage of their previous value. a. learning rate

The learning rate is a concept commonly used in the context of machine learning and optimization, where it refers to the step size taken by an algorithm to update the parameters of a model during training. In the context of the given scenario, the learning rate refers to the decrease in worker hours per unit that occurs as output on work doubles.

For example, if a worker takes 8 hours to produce one unit of output, and then doubles their output to produce two units in 16 hours, and if the learning rate is 10%, then the worker's hours per unit would decrease by 10% of their previous value, i.e., from 8 hours to 7.2 hours per unit.

If they double their output again to produce four units in 32 hours, their hours per unit would decrease by another 10%, i.e., from 7.2 hours to 6.48 hours per unit. This process continues as the worker's output on work doubles each time.

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The net cash provided by (used in) financing activities is $(56,200).

To find the net cash provided by (used in) financing activities, we need to consider the events related to financing activities only. In this case, those are dividends paid and bonds payable paid off.

1. Dividends paid: $(11,200) - This is considered as cash used in financing activities, since it's a cash outflow.
2. Paid off bonds payable: $(45,000) - This is also considered as cash used in financing activities, as it's another cash outflow.

Now, to find the net cash provided by (used in) financing activities, we will add these two values:

Net cash used in financing activities = Dividends paid + Paid off bonds payable
Net cash used in financing activities = $(11,200) + $(45,000)
Net cash used in financing activities = $(56,200)

So, the correct answer is $(56,200), which is option B.

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The total amount of traceable fixed manufacturing overhead for Alpha is $2,120,000, and for Beta is $2,332,000.

To calculate the total amount of traceable fixed manufacturing overhead for each product, we need to multiply the number of units produced for each product by the cost per unit of traceable fixed manufacturing overhead.

For the Alpha product:

Total traceable fixed manufacturing overhead for Alpha = (Number of units produced for Alpha) x (Cost per unit of traceable fixed manufacturing overhead for Alpha)

Similarly, for the Beta product:

Total traceable fixed manufacturing overhead for Beta = (Number of units produced for Beta) x (Cost per unit of traceable fixed manufacturing overhead for Beta)

Given that the company has the capacity to produce 106,000 units of each product annually, we can use this information to calculate the total traceable fixed manufacturing overhead for each product.

Substituting the given values:

Therefore, the total amount of traceable fixed manufacturing overhead for Alpha is $2,120,000, and for Beta is $2,332,000.

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The Neat Logos Cost of Goods Sold, Inventory and Purchases Budget for the Months of October and November is:

Neat Logos Cost of Goods Sold, Inventory and Purchases Budget

For the Months of October and November

October November

Cost of goods sold $1,600,000 $1,703,571

Plus: Desired ending Inventory $750,000 $762,714

Total Inventory required $2,350,000 $2,466,286

Less: Beginning inventory $750,000 $700,000

Purchases $1,600,000 $1,766,286

To prepare the cost of goods sold, inventory, and purchases budget for Neat Logos for the months of October and November, we need to follow the given information and the steps below:

Calculate the cost of goods sold (COGS) for each month using the gross profit percentage:

September Sales: $2,001,000

October Sales: $2,240,000

November Sales: $2,385,000

December Sales: $2,590,000

Gross profit percentage = 40%

Cost of goods sold = Sales / (1 + Gross profit percentage)

September COGS: $1,429,286 ($2,001,000 / 1.40)

October COGS: $1,600,000 ($2,240,000 / 1.40)

November COGS: $1,703,571 ($2,385,000 / 1.40)

December COGS: $1,853,333 ($2,590,000 / 1.40)

Calculate the desired ending inventory for each month:

October: $430,000 + (20% x $1,600,000) = $750,000

November: $430,000 + (20% x $1,703,571) = $762,714

Calculate the total inventory required for each month:

October: $1,600,000 + $750,000 = $2,350,000

November: $1,703,571 + $762,714 = $2,466,286

Calculate the beginning inventory for each month:

October: $750,000 (given)

November: $700,000 ($750,000 - $50,000, estimated decrease in inventory)

Calculate the purchases for each month:

October: $2,350,000 - $750,000 = $1,600,000

November: $2,466,286 - $700,000 = $1,766,286

Therefore, the Neat Logos Cost of Goods Sold, Inventory and Purchases Budget for the Months of October and November is:

Neat Logos Cost of Goods Sold, Inventory and Purchases Budget

For the Months of October and November

October November

Cost of goods sold $1,600,000 $1,703,571

Plus: Desired ending Inventory $750,000 $762,714

Total Inventory required $2,350,000 $2,466,286

Less: Beginning inventory $750,000 $700,000

Purchases $1,600,000 $1,766,286

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The Neat Logos Cost of Goods Sold, Inventory and Purchases Budget for the Months of October and November is:

Neat Logos Cost of Goods Sold, Inventory and Purchases Budget

For the Months of October and November

October November

Cost of goods sold $1,600,000 $1,703,571

Plus: Desired ending Inventory $750,000 $762,714

Total Inventory required $2,350,000 $2,466,286

Less: Beginning inventory $750,000 $700,000

Purchases $1,600,000 $1,766,286

To prepare the cost of goods sold, inventory, and purchases budget for Neat Logos for the months of October and November, we need to follow the given information and the steps below:

Calculate the cost of goods sold (COGS) for each month using the gross profit percentage:

September Sales: $2,001,000

October Sales: $2,240,000

November Sales: $2,385,000

December Sales: $2,590,000

Gross profit percentage = 40%

Cost of goods sold = Sales / (1 + Gross profit percentage)

September COGS: $1,429,286 ($2,001,000 / 1.40)

October COGS: $1,600,000 ($2,240,000 / 1.40)

November COGS: $1,703,571 ($2,385,000 / 1.40)

December COGS: $1,853,333 ($2,590,000 / 1.40)

Calculate the desired ending inventory for each month:

October: $430,000 + (20% x $1,600,000) = $750,000

November: $430,000 + (20% x $1,703,571) = $762,714

Calculate the total inventory required for each month:

October: $1,600,000 + $750,000 = $2,350,000

November: $1,703,571 + $762,714 = $2,466,286

Calculate the beginning inventory for each month:

October: $750,000 (given)

November: $700,000 ($750,000 - $50,000, estimated decrease in inventory)

Calculate the purchases for each month:

October: $2,350,000 - $750,000 = $1,600,000

November: $2,466,286 - $700,000 = $1,766,286

Therefore, the Neat Logos Cost of Goods Sold, Inventory and Purchases Budget for the Months of October and November is:

Neat Logos Cost of Goods Sold, Inventory and Purchases Budget

For the Months of October and November

October November

Cost of goods sold $1,600,000 $1,703,571

Plus: Desired ending Inventory $750,000 $762,714

Total Inventory required $2,350,000 $2,466,286

Less: Beginning inventory $750,000 $700,000

Purchases $1,600,000 $1,766,286

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Auditing standards identify four conditions and events that may indicate going concern issues. These conditions and events are significant financial difficulties, negative financial trends, default on loans, and withdrawal of financial support by creditors. These factors are important because they signal a potential risk of the company being unable to continue its operations in the near future.

Significant financial difficulties could mean that the company is experiencing losses, has a significant amount of debt, or is facing cash flow problems. Negative financial trends could indicate a decline in revenue or an increase in expenses that could lead to financial distress. Default on loans is a serious issue as it could lead to creditors taking legal action against the company.

It is important auditors for to identify and report these conditions and events to stakeholders as it could impact their decision-making process. This information is crucial in assessing the company's ability to continue operating and its financial viability. In summary, these four conditions and events serve as warning signs that could indicate going concern issues that need to be addressed by the management of the company.

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The equation for total accounting profit can be represented as follows: Total Revenue - Total Costs = Accounting Profit

Total Revenue = Price per Job x Number of Lawns Serviced

Total Costs = Equipment Costs + Business Insurance + (Fuel Cost per Lawn x Number of Lawns Serviced) + (Miscellaneous Expenses per Lawn x Number of Lawns Serviced)

Thus, the equation for total accounting profit can be written as:

(Accounting Profit) = (Price per Job x Number of Lawns Serviced) - (Equipment Costs + Business Insurance + (Fuel Cost per Lawn x Number of Lawns Serviced) + (Miscellaneous Expenses per Lawn x Number of Lawns Serviced)) - (Wage Cost for Three College Students)

Where:

Price per Job is $55 per lawn.

Equipment Costs are $3,200.

Business Insurance is $1,000.

Fuel Cost per Lawn is $5.

Miscellaneous Expenses per Lawn is $2.

Wage Cost for Three College Students is $4,000.

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The dollar change in your account based on marking-to-market for the first month is a gain of $5.90

To find the dollar change in your account based on marking-to-market for the first month, we need to calculate the difference between the price of the futures contract when you bought it and the newly-issued futures contract price one month later.

Step 1. You bought the futures contract at a price of $51.29.

Step 2. One month later, the newly-issued futures contract is priced at $57.19.

Step 3. Calculate the difference: $57.19 - $51.29 = $5.90.

Since the value of the contract increased, you have a gain of $5.90. Thus, the answer is a positive number, rounded to the nearest penny.

Therefore, the dollar change in your account based on marking-to-market for the first month is a gain of $5.90.

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Calculated is the estimated uncollectible account balance. Prior to adjustment, Mercy Cosmetics' Allowance for Uncollectible Accounts balance at the end of the year is $660 (debt).

Accounts Receivable now have a balance of $25,600. In the upcoming year, the business predicts that 13% of accounts won't be collected.If there is no reserve, the amount received would be credited to uncollectible accounts expenditure, debited from accounts receivable, and then credited to accounts receivable and cash. The receivable balance in the various ageing categories (see table below) is multiplied by a reserve rate to determine the allowance for uncollectible accounts. Older receivables are subject to a higher reserve rate since they are less likely to be recovered.

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