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
solniwko [45]
3 years ago
15

At the beginning of the year, the balance in Allowance for Doubtful Accounts is a credit of $760. During the year, previously wr

itten off accounts of $120 are reinstated and accounts totaling $740 are written off as uncollectible. The end-of-year balance (before adjustment) in Allowance for Doubtful Accounts should be
A. $760.
B. $120.
C. $140.
D. $740.
Business
1 answer:
Tom [10]3 years ago
5 0

Answer:

Given:

Allowance for Doubtful Accounts is a credit of $760

Written off accounts = $120

Accounts totaling = $740

The end-of-year balance (before adjustment) in Allowance for Doubtful Accounts will be computed as:

<em>Allowance for Doubtful Accounts - Accounts totaling + Written off accounts</em>

<em>⇒ $760 - $740 + $120</em>

<em>⇒ $140</em>

<u><em /></u>

<u><em>therefore, the correct option is (c).</em></u>

You might be interested in
Andrea is interested in medical science and wants to be a doctor. Her grades in science are impressive. Which CTSO should she jo
Harlamova29_29 [7]

Health Occupations Students of America.


4 0
3 years ago
Read 2 more answers
Which one of the following statements is correct?A) NASDAQ has more listed stocks than does the NYSE.B) The NYSE is a dealer mar
ser-zykov [4K]

Answer:

A. NASDAQ has more listed stocks than does the NYSE.

8 0
2 years ago
You are considering two mutually exclusive projects with the following cash flows. Which project(s) should you accept if the dis
larisa [96]

Answer:

NPV Project A = - $825.31

NPV Project B = $6119.89

So, at a discount rate of 8.5%, Project B should be accepted.

NPV Project A = - $6804

Npv Project B = - $3764.48

So, at a discount rate of 13%, neither of the projects should be accepted.

Explanation:

One of the methods to evaluate a project is to determine the NPV or Net Present Value from the project. If a project provides a positive NPV after discounting the cash flows from the project at a set discount rate, the project should be accepted. If the project gives a negative NPV, the project should be discarded.

The NPV is calculated as follows,

NPV = CF1 / (1+r)  +  CF2 / (1+r)^2 + ... + CFn / (1+r)^n - Initial cost

Where,

  • CF1, CF2, ... represents the cash flows in year 1 and year 2 and so on
  • r is the discount rate

<u>At 8.5% discount rate</u>

NPV Project A = 31000/(1+0.085)  +  31000/(1+0.085)^2  +  31000/(1+0.085)^3 - 80000

NPV Project A = - $825.31

NPV Project B = 110000 / (1+0.085)^3  -  80000

NPV Project B = $6119.89

So, at a discount rate of 8.5%, Project B should be accepted.

<u>At 13% discount rate</u>

NPV Project A = 31000/(1+0.13)  +  31000/(1+0.13)^2  +  31000/(1+0.13)^3 - 80000

NPV Project A = - $6804

NPV Project B = 110000 / (1+0.13)^3  -  80000

Npv Project B = - $3764.48

So, at a discount rate of 13%, neither of the projects should be accepted.

4 0
3 years ago
In a process cost system, the application of factory overhead usually is recorded as an increase in?
vredina [299]

In a process cost system, the application of factory overhead usually is recorded as an increase in work in process inventory control.

<h3>What is the process costing system?</h3>
  • When a large number of similar products are manufactured, a process costing system accumulates costs.
  • A process costing method is used by any large-scale firm who produces huge quantities of identical commodities.
  • A petroleum refinery is a perfect example of a process costing environment since it is hard to trace the cost of a specific unit of oil as it passes through the refinery.

learn more about costing system refer:

brainly.com/question/26515102

#SPJ4

5 0
1 year ago
The demand curve shows that the quantity consumed of a good or service
Zigmanuir [339]

Answer:

increase by price

Explanation:

because, of quantity let me m know if I am correct I am pretty sure I am

8 0
2 years ago
Other questions:
  • Through band-aid's continuous commitment to quality and constant product innovations, band-aid has been able to increase the con
    9·1 answer
  • What are the two main forces that underlie the globalization of markets and production?
    15·1 answer
  • Yakov orders 40 cases of mescal from a Mexican distributor at a price of $90 per case. 2. A U.S. company sells 200 spark plugs t
    9·1 answer
  • The area of accounting that provides managers inside the organization with information they need to make decisions is called:
    8·1 answer
  • The aircraft industry has long been dominated by two large aircraft manufacturers, Boeing and Airbus. The demand for major aircr
    9·1 answer
  • Sanjay is a manager at Ridgeway Appliance Corp. and is responsible for helping the company reach its goal of purchasing a manufa
    7·1 answer
  • What is an appropriate budgeting question
    8·1 answer
  • The business case for why companies should act in a socially responsible manner includes: Select one: a. It generates internal b
    15·1 answer
  • A 12-year capital lease specifies equal minimum annual lease payments. Part of this payment represents interest and part represe
    9·1 answer
  • How much interest will Henry save if he finances the vehicle over 36 months instead
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!