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Greeley [361]
3 years ago
8

Tutor uses the balance sheet approach in estimating uncollectible accounts expense, and aging the accounts receivable indicates

the estimated uncollectible portion to be $8,600. What is the amount of uncollectible accounts expense recognized in Tutor's income statement for March?
A.$8,600
B.$6,800
C.$10,400
D.$1,800
Business
1 answer:
Lorico [155]3 years ago
5 0

Answer:

A.$8,600

Explanation:

The journal entry to record the bad debt expense is shown below:

Bad debt expense A/c Dr  $8,600

 To Allowance for doubtful debts $8,600

(Being bad debt expense is recorded)

Since the bad debt expense is an expense so the same is recorded in the debit side of the balance sheet while the estimated uncollectible portion reduces the account receivable balance so we credited it

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Answer:

10%

Explanation:

Value of investment in the beginning = $30,000

Value of investment at the end = $30,000 (1 + 0.08)

                                                    = $30,000 × 1.08

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Interest paid = $15,000 × 6%

                     = $900

Rate of return:

=\frac{Value\ at\ the\ end-Value\ in\ beginning-Interest}{Total\ amount-Borrowed\ amount}\times100

=\frac{32,400-30,000-900}{30,000-15,000}\times 100

=\frac{1,500}{15,000}\times 100

      = 10%

Rate of return is 10% if the price of Telecom stock goes up by 8% during the next year.

7 0
2 years ago
​A-Plus Appliances sells dishwashers with a​ four-year warranty. In​ 2019, sales revenue for dishwashers is​ $94,000. The compan
Elan Coil [88]

Answer:

$4230 is the correct answer to the given question .

Explanation:

As Mention in the question the sales revenue to the dishwashers = $94,000

Also the company estimated  warranty expense cost is =4.5% of revenues,

Now the estimated warranty payable can be determined by the following formula  

Annual\  sales\  revenue\ for \ the \  dishwashers\ * warranty\  expense\  revenues.

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== $4230

                                             

6 0
2 years ago
Melanie Gollick, nursing floor manager for Scripps Memorial Hospital La Jolla, says, "It’s the personality and being able to mes
ipn [44]

Answer:

The correct answer is b) Be able to use his or her skills.

Explanation:

Melanie Gollick believes that employees must be able to develop and use their skills to perform work in the hospital. But the use of these skills will depend on the personality of each person and the way they adapt to carry out group work.

Skills refer to a set of skills that each person presents, this ability may be different for each person, for example, a person who works in the health area in a hospital needs to be among their skills, work under pressure, follow instructions, empathy, adaptation, group work, among others.

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<em>I hope this information can help you.</em>

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3 years ago
At the beginning of the current period, Griffey Corp. had balances in Accounts Receivable of $239,000 and in Allowance for Doubt
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Explanation:

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8 0
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