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anyanavicka [17]
2 years ago
14

If the Allowance for Doubtful Accounts has a $1,000 debit balance prior to making the end-of-period adjusting entry for bad debt

s using the aging of accounts receivable method, then it must mean that the ______. Multiple choice question. direct write-off method was used debit to Bad Debt Expense will be $1,000 less than if the Allowance balance had been $0 aging method was used debit to Bad Debt Expense will be $1,000 more than the desired ending balance in the Allowance for Doubtful Accounts sales method was used
Business
1 answer:
klemol [59]2 years ago
8 0

<em>The</em><em> debit to Bad Debt Expense must be $1,000 greater than the desired ending balance in the Allowance for Doubtful Accounts </em><em>if the Allowance for Doubtful Accounts has a $1,000 debit amount before the end-of-period adjustment entry for bad debts is made using the aging of accounts receivable technique.</em>

<h3>What is an expense for bad debt?</h3>

When a receivable is no longer recoverable as a result of a customer's inability to pay an outstanding debt owing to bankruptcy or other financial issues, a bad debt expense is recorded.

<h3>What are some illustrations of bad debt costs?</h3>

Big Store stops paying its debts and fails to reimburse Company XYZ for goods valued at $100,000. Because the business is skeptical that Big Store would ever pay, it classifies the $100,000 as a bad debt.

<h3>Is a bad debt a cost or a loss?</h3>

When a customer's repayment of previously granted credit is thought to be uncollectible and is therefore recorded as a charge off, a business incurs a bad debt expense.

learn more about Bad Debt Expense here <u>brainly.com/question/18568784</u>

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Which of the following should be added to the net income in calculating net cash flow from operating activities using the indire
liubo4ka [24]

Answer:

a.

Explanation:

Operating Activities records the cash transactions involved in the operations of the business are recorded under ‘operating activities’ in the cash flow statement.  

Examples: Revenue earned, expenses incurred etc.  

There are two methods to prepare the cash flow statement. The only difference between both the methods is the way of presenting cash flow from operating activities.  

The two methods of presenting cash flow statement are:  

  1. Direct method: Operating activities section under direct method reports the amount of cash received and paid by the company during the period.  
  2. Indirect method: Operating activities section under indirect method reports the net income and later adjusts the transactions to convert it to cash basis of accounting.  

Depreciation expense is a non-cash operating expense. Thus, it is added back to the net income to derive net cash inflow from operating activities section of the cash flow statement.

4 0
3 years ago
leadership has many facets, but the central feature of leadership is the ability to command and control others.
Step2247 [10]

The statement is True. Leadership has many facets, but the central feature of leadership is the ability to command and control others.

“The movement of Leadership a collection of people or an employer.” this is how the Oxford Dictionary defines management. In simple phrases, management is set taking dangers and hard the status quo. Leaders inspire others to obtain something new and higher.

Management abilities may be practiced to any degree irrespective of the identity you have. Leadership may be a critical capability to have because a great leader is capable of convey out the quality talents in his/her team participants and motivating them to paint collectively in attaining a shared intention.

One definition of management is to “inspire, influence and manual others to take part in a not unusual effort.” right leaders do not simply bark orders or hand out directives without an explanation. as an alternative, they use effective communication and motivation strategies to facilitate motion by using their teams.

Learn more about  leadership here brainly.com/question/1232764

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4 0
1 year ago
The demand for grapesgrapes is highest during summer and lowest during winter. Yet grapegrape prices are normally lower in summe
anastassius [24]

Answer:

The correct answer is: D. The supply increases more than the demand increases.

Explanation:

The law of supply and demand is the basic principle on which a market economy is based. This principle reflects the relationship between the demand for a product and the quantity offered of that product taking into account the price at which Sell ​​the product.

Thus, depending on the price in the market of a good, the bidders are willing to manufacture a certain number of that good. Like the plaintiffs they are willing to buy a certain number of that good, depending on the price. The point where there is a balance because the plaintiffs are willing to buy the same units that the bidders want to manufacture, for the same price, is called the market equilibrium or breakeven point.

According to this theory, the law of demand states that, keeping everything else constant, the quantity demanded of a good decreases when the price of that good increases. On the other hand, the law of supply indicates that, keeping everything else constant, the quantity offered of a good increases when its price does.

6 0
4 years ago
It is to say that Blue Hamster’s net inflows and outflows of cash at the end of Years 1 and 2 are equal to the company’s annual
Elanso [62]

It is <u>correct </u>to say that Blue Hamster’s net inflows and outflows of cash at the end of Years 1 and 2 are equal to the company’s annual contribution to retained earnings, $4,194,250 and $5,121,531, respectively. This is because <u>all of the items</u> reported in the income statement involve payments and receipts of cash.

<u>Explanation:</u>

Inflow of the company is the income of the company that it gets from the sale of the goods and the services that have been produced by the company by using raw material, labor and so on.

Outflow of the company is the expenditures and costs that the company makes on the production of the goods and services that are to be sold by the company to it's clients to earn revenue. The main purpose of the company is to increase it's inflows as much as possible.

6 0
3 years ago
Assume that you invest 5 percent of your salary and receive the full 5 percent match from East Coast Yachts. What EAR do you ear
Anastasy [175]

Answer:

The EAR you earn from the match is 100%.

Explanation:

Since a full 5 percent match will be received if 5 percent of your salary is invested, this implies that 100% will be earned by you from the match up to 5%.

For example, if 5 percent of your salary that you put in is $200, the East Coast Yachts will match the $200. This indicates that effective annual return (EAR) earned by you from the match is 100%.

Therefore, the EAR you earn from the match is 100%.

4 0
3 years ago
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