1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
diamong [38]
1 year ago
12

the percent of sales method for estimating bad debts uses only income statement account balances to estimate bad debts. group st

artstrue or false
Business
1 answer:
crimeas [40]1 year ago
6 0

The statement that the percent sales method for estimating bad debts for a company, will only use those balances in the income statement is False.

<h3>What is the percent of sales method?</h3>

The percent of sales method is one of the methods that companies can use to estimate the bad debts that it expects in a given period. Bad debts refer to those Account Receivables that will not pay the company back even after they have taken goods or services on credit. In order to be able to use the percent of sales method, the sales of a company need to be known.

The sales that a company makes includes both the sales that the company made and the accounts receivable. The Accounts Receivables go to the Balance Sheet and Sales go to the Income Statement. This means that the Balance Sheet balances are used as well as Income Statement balances and not just the latter.

Find out more on the percent of sales method at brainly.com/question/13958992

#SPJ1

You might be interested in
A company can shorten its cash cycle by: __________
Dafna1 [17]

Answer:

None of the above

Explanation:

Companies can shorten their cash cycles by turning over their inventory faster. The quicker a company sells its goods, the sooner it takes in cash from cash and credit card sales and begins its accounts receivable aging. Inventory turnover has no impact on the cash cycles of service companies with no inventory.

5 0
3 years ago
Read 2 more answers
On February 1, 2020, Hawser Corporation purchased a parcel of land as a factory site for $960,000. An old building on the proper
Zolol [24]

Answer:

Cost of land = $1,005,000

Cost of building = $4,275,000

Explanation:

The calculation of cost of the land and new building is shown below:-

Cost of land = Purchase cost + Demolition of old building + Legal fees for title investigation and purchase contract - Salvaged materials

= $960,000 + $ 60,000 + 15,000 - $30,000

= $1,005,000

Cost of building = Architects Fees + Construction costs

= $105,000 + $4,170,000

= $4,275,000

5 0
3 years ago
Using accrual accounting, expenses are recorded and reported only: _A. when they are incurred and paid at the same time. B. if t
sleet_krkn [62]

Answer:

C. when they are incurred, whether or not cash is paid.

Explanation:

In accrual accounting, expenses are recorded in the moment they are incurred, even if they have not been paid for.

In fact, the term "accrued expense" means an expense that has been incurred, but not yet paid.

One common example of an accrued expense is accrued wages:

Suppose that a firm hires a worker on March 1, for a wage of $1,000 dollars per month, that is due to be paid at the end of the month (March 31). This worker is earning $33 per day. By March 4, the firm should have recorded accrued wages for $132 ($33 x 4 days) even if no payments will be made until March 31.

4 0
3 years ago
Classify the customer buying motive as rational or emotional.
Sav [38]

Answer:

Emotional because joining such a club wont benefit him economically, only his prestige

8 0
2 years ago
Read 2 more answers
What was Roosevelt's big stick foreign policy?
ra1l [238]

Roosevelt's "big stick" foreign policy meant that the United States would engage in diplomatic negotiations while retaining the ability to use force if necessary.

<h3>What are some examples of Roosevelt's big stick strategy?</h3>

Numerous instances in foreign affairs, President Roosevelt employed big stick policy. He negotiated a peace deal between Russia and Japan, expanded American influence in Cuba and more.

<h3>How did America benefit from the "big stick" policy?</h3>

Roosevelt was successful in keeping the United States out of wars by threatening legitimately with force under his "big stick" strategy.

<h3>How was the "big stick" approach applied in Panama?</h3>

Roosevelt used the "big stick" to put down the Colombian uprising by aiding the Panamanian people. He dispatched American battleships to the Colombian coast in November 1903 to prevent it from putting down the revolt in Panama.

To know more about big stick, visit:

brainly.com/question/22391573

#SPJ4

8 0
1 year ago
Other questions:
  • Will give brainliest for only one question please help
    9·1 answer
  • What might happen if an economy is unable to produce wanted goods and services
    6·2 answers
  • According to the law of supply, assuming other factors are held constant
    13·1 answer
  • Under the previous​ CEO, Konica/Minolta's management determined it was time to invest in​ __________ by offering new products to
    15·1 answer
  • On June 30, 20X5, Mill Corp. incurred a $100,000 net loss from disposal of a business segment. Also, on June 30, 20X5, Mill paid
    10·1 answer
  • A negotiable instrument can function as a substitute for cash.
    11·1 answer
  • If happiness was money, what would your job be?​
    12·2 answers
  • 2. Provide three examples of innovative activities, practices that leaders might undertake. Do not limit your ideas to
    7·1 answer
  • Between the u. s. and nepal, nepal invests less in new factories and equipment. This will likely cause?
    12·1 answer
  • 42)Groupe Air uses two measures of activity, flights andpassengers, in the cost formulas in its budgets andperformance reports.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!