Answer:
c. the analysis of receivables method.
Explanation:
In accounting for uncollectible receivables, the balance in Allowance for Doubtful Accounts will directly impact the amount of the adjustment when applying the analysis of receivables method.
The uncollectible account for receivables includes loans, credit sales or other debts that the business isn't expecting payment for and they are recorded as bad debt expense on the balance sheet.
The allowance for doubtful account method is used to account for the bad debt expense, and recorded before the bad debt occurs.
Basically, there are two (2) main methods of determining uncollectible accounts for receivables under the allowance method, these are;
1. The analysis of receivables method.
2. The percentage of sales method.
In this scenario, we are more concerned with this;
The analysis of receivables method is used to determine uncollectible account for receivables based on the age of respective accounts receivable.
Answer:
I don't know I'm sorry
Explanation:
I just want points pls forgive me
Answer:
a) What is the expected transaction price with variable consideration estimated as the expected value?
- original cost $5,800 if job is finished in one month (15% probability)
- bonus price for finishing 2 weeks earlier $5,800 x 1.25 = $7,250 (25% probability)
- bonus price for finishing 1 week earlier $5,800 x 1.15 = $6,670 (60% probability)
expected transaction price = ($5,800 x 15%) + ($7,250 x 25%) + ($6,670 x 60%) = $6,684.50
b) What is the expected transaction price with variable consideration as the most likely amount?
$6,670, since it has a 60% probability
Answer:
Services the borrower did shop for, that the buyer may find on his own.
Explanation:
Services such as a pest inspection or title insurance are services that the buyer of a house usually want, but are not mandatory for them to purchase. Therefore usually buyers must search for them on their own since they are not required by a bank.
They are different than services that a lender requires like home insurance, which a buyer must purchase.