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1 year ago

Using the allowance method, is bad debt expense recognized in

1 answer:

3 0

Using the allowance method, is bad debt expense recognized in the period in which sales related to the uncollectible account are made.

One of the most typical types of bad debt is credit card debt. Lenders issue credit cards, which let you make purchases on credit. These credit cards frequently have exorbitant interest rates that can soon become out of control.

Bad debt costs are typically listed on the income statement as a sales and general administrative expenditure. Accounts receivable on the balance sheet are reduced when bad debts are recognized, but firms still have the right to collect money if the situation changes.

Learn more about bad debts here

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You and your friends have decided to build a skateboard ramp behind your house. You have already purchased $500 in materials and

Rufina [12.5K]

Answer:

Hand saw is cheaper.

Explanation:

Given:

Material cost = $500

Electric saw cost rent per hour = $20

Building hour from electric saw = 6 hour

Building hour from hand saw = 15 hour

Time off pay from job = $8/hour

Computation of total cost from Electric saw :

Total cost from Electric saw = Material cost + Renting cost of electric saw + Time of from job

Total cost from Electric saw = $500 + (6 × $20) + (6 × $8)

Total cost from Electric saw = $500 + $120 + $48

Total cost from Electric saw = $668

Computation of total cost from hand saw :

Total cost from hand saw = Material cost + Time of from job

Total cost from hand saw = $500 + (15 × $8)

Total cost from hand saw = $500 + $120

Total cost from hand saw = $620

Hand saw is cheaper.

5 0

3 years ago

On March 1, Wright Company purchased new equipment for $58,500 by paying cash. Other costs associated with the equipment were: t

OLga [1]

Answer:

$70,100

Explanation:

The computation of the equipment recorded on a balance sheet is shown below:

= Purchase of new equipment + transportation cost + sales tax paid + installation cost

= $58,500 + $2,700 + $4,700 + $4,200

= $70,100

We simply added the above four items so that the recorded value of an equipment could come

7 0

3 years ago

Asking "Who would buy my product?" in a survey is an example of what?

Aleksandr-060686 [28]

Direct mail
Hope it helps

8 0

3 years ago

Read 2 more answers

What key stage involves defining your project? a. Representing your data in a trustworthy manner b. Working with data c. Develop

STatiana [176]

Answer:

The correct answer is letter "C": Developing your design solution.

Explanation:

Every project borns with the idea of finding a solution to a problematic situation. While designing a project coming up with what the solution is for the problem that you would like to attempt solving is vital because from there part all the steps on what and how it is going to be done.

7 0

3 years ago

The factors that affect the price elasticity of supply include: Instructions: You may select more than one answer.

bearhunter [10]

Answer:

The correct answer is letter "A", "B", and "D": the availability of inputs; the flexibility of the production process; time needed to adjust to changes in price.

Explanation:

Price elasticity of supply reflects the changes in supply after a change in prices. The price elasticity of supply is calculated dividing the percentage in the change of quantity supplied by the percentage in the change of price. If the result is equal or greater than one (1) the supply of that good is elastic. If the result is lower than one (1), then the supply is inelastic.

Three main factors determine the price elasticity of supply which are the amount of inventory or raw material in the industry, the capacity to increase or decrease the production, and the time needed to produce the good to be offered based on the price fluctuations.

8 0

3 years ago