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
Korolek [52]
3 years ago
8

Allegheny Company ended Year 1 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $74,000 and $3,900, r

espectively. During Year 2, Allegheny wrote off $7,200 of Uncollectible Accounts. After aging its receivables, Allegheny estimates that the ending Allowance for Doubtful Accounts balance should be $6,000. What will Allegheny report as Uncollectible Accounts Expense on its Year 2 income statement?
Business
1 answer:
Nadya [2.5K]3 years ago
5 0

Answer:

The 9,300 should Allegheny report as Uncollectible Accounts Expense on its Year 2 income statement

Explanation:

The non-collectible accounts expenses on its Year 2 income statement is shown below:

= Ending balance + write off balance - opening balance

= $6,000 + $7,200 - $3,900

=$9,300

The accounts receivable is not to be considered because we have to find out the uncollectible accounts expense, so the account receivable balance should not be taken in the computation part.

Hence, the 9,300 should Allegheny report as Uncollectible Accounts Expense on its Year 2 income statement

You might be interested in
As a contemporary manager, your employees will perceive that their opinions are more valued if:
sergij07 [2.7K]

The answer is this: employees would feel that their opinions matter if open communication is established between the manager and the employee by removing barriers to communication.

An example to this would be having brainstorming meetings where employees are free to give their ideas. Another option would be by eliminating the need to call the manager using suffixes such as Mr. or Dr.

3 0
3 years ago
Karen is buying a new laptop. She is looking for a light-weight computer. The laptop she purchases is a little heavier than she
Ipatiy [6.2K]

Karen is buying a new laptop. She is looking for a light-weight computer. The laptop she purchases is a little heavier than she had originally hoped, but she was willing to accept the extra weight for a computer with a bigger, clearer screen.

Karen made her purchase decision using a compensatory decision rule.

In psychology, compensation is a approach whereby one covers up, consciously or unconsciously, weaknesses, frustrations, goals, or feelings of inadequacy or incompetence in a single life area thru the gratification or (drive toward) excellence in some other area. compensation can cowl up both real or imagined deficiencies and personal or bodily inferiority. fantastic compensations may additionally help one to conquer one's problems. then again, bad compensations do not, which ends up in a strengthened feeling of inferiority.

Learn more about compensatory here

brainly.com/question/4395083

#SPJ4

8 0
1 year ago
Miguel is planning on serving a roasted vegetable platter at the reception he's catering. Vegetables with _______ are best suite
telo118 [61]
C i believe is correct
5 0
3 years ago
Read 2 more answers
Have led to drastic changes in the ability to gather, analyze, and access
kakasveta [241]

Answer: advanced in technology :)

Explanation:

6 0
3 years ago
Read 2 more answers
During 2015 Lopez Corporation reported net sales of $3,200,000 and net income of $1,200,000. Its balance sheet reported average
Sholpan [36]

The asset turnover is 2.4 times.

Asset turnover  = Net sales \div Average total assets

Asset turnover  =  $3,000,000 \div [  $1,000,000 + $1,500,000 ] \div 2

Asset turnover  =  2.4 times

Asset turnover is the ratio of total sales or revenue to average assets. This metric helps investors understand how effectively companies are using their assets to generate revenue. Investors use asset turnover to compare similar companies in the same industry or group.

In the retail sector, an asset turnover of 2.5 or higher may be considered good, but in the utility sector, a company is more likely to aim for an asset turnover between his 0.25 and 0.5.

Learn more about asset turnover at

brainly.com/question/13401474

#SPJ4

8 0
2 years ago
Other questions:
  • Exsplain gross premium
    15·2 answers
  • What are the three types of indirect financial compensation provided by most employers?
    9·1 answer
  • All of the following statements regarding accounting treatments for liabilities under U.S. GAAP and IFRS are true except:_______
    14·1 answer
  • Question 2--/1 View Policies Current Attempt in Progress This information relates to Cullumber Co.. 1. On April 5, purchased mer
    6·1 answer
  • Highland Industries makes custom yachts using a job cost accounting system. In anticipation of a busy year for 2019, Highland’s
    13·1 answer
  • Which is true? Group of answer choices Typically, only highly skilled statisticians perform trend and root cause analysis. Ultim
    7·1 answer
  • All of the following statements accurately characterize the management of American corporations in the 1920s except: men with en
    12·1 answer
  • Cadott has the following estimates for the upcoming year:
    13·1 answer
  • In a perfectly competitive market in the long run, after all adjustments have occurred, an increase in demand causes equilibrium
    6·1 answer
  • Free xp for the first people to awnser
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!