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kotegsom [21]
3 years ago
12

Vaughn Manufacturing's allowance for uncollectible accounts was $190000 at the end of 2020 and $178000 at the end of 2019. For t

he year ended December 31, 2020, Vaughn reported bad debt expense of $31000 in its income statement. What amount did Vaughn debit to the appropriate account in 2020 to write off actual bad debts?
Business
1 answer:
Colt1911 [192]3 years ago
8 0

Answer: $19000

Explanation:

From the question, we are informed that Vaughn Manufacturing's allowance for uncollectible accounts was $190000 at the end of 2020 and $178000 at the end of 2019 and that for the year ended December 31, 2020, Vaughn reported bad debt expense of $31000 in its income statement.

The amount that Vaughn debited to the appropriate account in 2020 to write off actual bad debts will be:

= $31000 - ($190000 - $178000)

= $31000 - $12000

= $19000

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Slav-nsk [51]

Answer:

Retained earnings refers to:

D. The net losses and dividends declared since its inception of a company's cumulative net profit.

Explanation:

Retained earnings are referred as :

  • The overall earning the company have made till the present date.
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  • Whenever new records are made for the company this dividend money is readjusted.
  • This leftover money has an impact on the account related to the expense and revenue.
  • The retained earnings are built of the total income amount which has been given by a business after paying off the dividend to the shareholders.

So, here correct option is

D. The net losses and dividends declared since its inception of a company's cumulative net profit.

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3 years ago
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Answer:

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Explanation:

There is  a significant difference in small firms leadership compared to large firms depending on legal structures, number of employees in a firm and financial availability.

Large firms have more departments, employees, and operations compared to small ones. For instance, the leadership style and structure required to manage operations and employees in large firms will need to be highly structured to ensure there is effective  command and information flow. For small firms, a simple command and communication flow structure will suffice as the number of employees and departments involved are few.

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As an eighth grader, Marliss wins an art competition, and her prize is one thousand dollars. She wants to invest the money for h
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Marliss will want to invest her money in a savings bond to help her save money for college. The correct answer is A. 
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After hiring 151 units of the variable input, labor, a firm determines the MFC to be $.30 and the MRP to be $.33. The firm shoul
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Answer:

Option (c) is correct.

Explanation:

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