Answer:
$1,520
Explanation:
Given that,
Accounts Receivable balance = $63,400
Allowance for Doubtful Accounts balance = $1,300
Services provided on account during year 2 = $152,000
Cash collected from accounts receivables = $161,300
Estimated Uncollectible accounts = 1% of sales on account
Therefore, the amount of uncollectible accounts expense during the year 2 is the 1 percent of the amount of services provided on account to a customer.
Hence, the amount of uncollectible accounts expense recognized on the Year 2 income statement is calculated as follows:
= Services provided on account × Estimated Uncollectible accounts
= $152,000 × 1%
= $1,520
What.....If the interest on an account is ????
Answer:
Te answer is: The demand for new cars will rise, so the demand for auto loans will also rise, increasing the labor demand in companies that offer auto loans.
Explanation:
When the price of a good or service decreases, the quantity demanded for that good or service will increase.
Interest rates can be considered as the price of a loan, so when interest rates fall, the quantity demanded for loans will increase. This factor plus an increase in car sales, low gasoline prices and low unemployment are the perfect conditions for the auto loan industry to flourish.
When any industry is expected to do so well, their demand for labor is also expected to increase.
Answer:
Explanation:
Organizational selection systems are designed to try and find the candidates that have the best academic qualifications for a job. Once an organization finds a candidate that can provide real value to the organization, get the job done efficiently, and has the attitude and personality traits they are looking for they tend to hire this individual. Regardless this does not mean that the individual being hired knows all of the unique organizational aspects or even the organizational culture. Training helps these new hires quickly adapt to their new work environment by learning the norms of the organization.
The adjusting entry would recognise insurance expense of $1,500.
Explanation:
The policy of an insurance company, tax insurance, insurance for business failure, etc. typically lasts a year, with payments charged in full (insurance premiums). Insurance policy is never the same as the financial year of the product. There are also expected to be several consolidated financial statements and some partial financial statements for compensation premiums.
Example of insurance premium payment:
On 31 December, the insurer files an correction report in order to document the expired (extended) cost of insurance and to the the pre-paid number. This is done with an premium fee of $1,000 and a prepayment policy bonus of $1,000.