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
dybincka [34]
3 years ago
9

Cambridge Co. uses the allowance method. During January 2019, Cambridge writes off a $640 customer account balance when it becom

es clear that the customer will never pay. The entry to record the write-off will:
a. not affect expenses in 2019.
b. decrease net income in 2019 by $640.
c. decrease net accounts receivable by $640.
d. decrease total assets by $640.
Business
1 answer:
yan [13]3 years ago
8 0

Answer:

The correct answer is option (a).

Explanation:

According to the scenario, computation of the given data are as follows:

Allowance method shows that, if account is written off, then Accounts receivable account gets credited and Allowance accounts gets debited.

Here, both accounts are or balance sheet items.

So, it will not affect any expenses account.

You might be interested in
If a consumer refuses to provide required suitability information, what must the producer/insurer do
V125BC [204]

Obtain a customer signed statement acknowledging that an annuity transaction is not recommended if a customer decides to enter into an annuity transaction that is not based on the insurance producer's or insurer's recommendation.

<h3>Who is responsible for verifying your suitability?</h3>

The insurer or third party delegate authorized pursuant to section 224.

6(c) of Regulation 187 conducts a suitability review prior to the issuance of an insurance product or the effectuation of a sales transaction; and.

The insurer has procedures designed to prevent financial exploitation and abuse.

<h3>What factors are important considerations when determining suitability of an annuity sale?</h3>

Suitability Information Gathered by an Insurer

  • Age.
  • Annual income.
  • Financial situation and needs, including the financial resources you're using to fund the annuity.
  • Financial experience.
  • Financial goals and objectives.
  • Intended use of the annuity.
  • Financial time horizon.

Learn more about insurance here:

<h3>brainly.com/question/15171641</h3><h3 /><h3>#SPJ4</h3>
7 0
1 year ago
A customer buys 1,000 shares of XYZZ stock in a margin account and pays the required 50% margin on settlement date. The customer
expeople1 [14]

Answer:

This request cannot be honored because the securities must be paid for, in full, to process a transfer and ship request

Explanation:

7 0
3 years ago
In a loan database, there are 66 loans to clients with 17 years of business experience. Also, there are 83 loans made to clients
lisabon 2012 [21]

Answer:

7 loans were made to clients with Graduate education who also had 17 years of experience

Explanation:

We have to solve for which is the intersection between the two groups.

66 is the count for +17 years

83 is the count for Graduate

the two groups is 149 loans

Then, we have 142 loans which are not part of both groups. Therefore, the difference are the loan count which do belong to both groups:

149 total loans - 142 loans out = 7

4 0
3 years ago
babysits on the weekends for extra money. Suppose that three neighbors with children are interested in paying Elizabeth to babys
kolbaska11 [484]

Answer:

$15

Explanation:

Consumer surplus is the price the consumer pay for good/service minus the amount the consumer is willing to pay for it.

✓Mr. and Dr. Brown would be willing to pay ​$31

✓Mr. Smith would be willing to pay ​$28

✓Professor Jones and Mr. Jones would be willing to pay ​$22

Elizabeth PRICE for babysitting each set of children for an evening = $22

Consumer surplus= Σ (price that the consumer is willing to pay- Price of the good/service is sold)

= [(31-22)+(28-22)+(22-22)]

= 9+6+0

=$15

Hence, Consumer surplus is $15

8 0
3 years ago
The Excellent Agency specializes in developing advertising campaigns for smaller retail clients. Excellent is hired by Shadowlea
horrorfan [7]

Answer:

D. "Great brands do more than just get attention, they make emotional connections."

Explanation:

In the given scenario the aim of Manuel Margolis was to catch attention of clients aged 18 - 35 years. However Kia Chin developed campaign is based on the slogan "Do What You Do in a Shadowleaf Shoe." Visuals depict men’s legs—different sizes, skin colors, etc.—walking, jogging, dancing, and otherwise moving in every type of Shadowleaf’s shoes. After running the ads, the Excellent Agency wins an advertising effectiveness award.

This initiative created an emotional connection with the customer where the visuals attracted them and the comfort of Shadowleaf shoes made them loyal customers.

So the best statement Kia Chin can tell Manuel is "Great brands do more than just get attention, they make emotional connections."

7 0
3 years ago
Other questions:
  • Swan Song is a spa that caters to the needs of a small percentage of highly health-conscious consumers. It offers state-of-the-a
    14·1 answer
  • Define what import substitution industrialization (ISI) is. Explain, in detail, how ISI may help economic development and give e
    14·1 answer
  • Mason Automotive is an automotive parts company that sells car parts and provides car service to customers. This is Mason's firs
    9·1 answer
  • Effective _______ is when customers can seamlessly search for a fashion brand merchandise on their smartphones, order the mercha
    12·1 answer
  • Investment spending in macroeconomics refers to: adding to one's retirement account. adding to physical capital. buying stocks.
    11·2 answers
  • There are _____ individual food establishments in the United States.
    15·2 answers
  • Which of the following is an example of a positive-sum game?A. Working with someone to build a house. B. A war between two count
    6·1 answer
  • (1 point) When one rents an apartment, one is often required to give the landlord a security deposit that is returned if the apa
    15·1 answer
  • What was your largest contributor from indoor water? Why? <br><br> I need description
    8·1 answer
  • Telstra, Australia's largest telecommunications and media company, has net revenue of more than $ 26 billion (Australian). Some
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!