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pogonyaev
3 years ago
14

Jumpin Corporation uses the percent-of-sales method to estimate uncollectibles. Net credit sales for the current year amount to

$2,030,000, and management estimates 5% will be uncollectible. The Allowance for Uncollectible Accounts prior to adjustment has a debit balance of $1,300. The amount of Uncollectible-Account Expense reported on the income statement will be:
Business
1 answer:
Zinaida [17]3 years ago
7 0

Answer:

$101,500

Explanation:

Net Sales    $2,030,000

Allowance for uncollectible Accounts ($2,030,000*5%)=$101,500

The amount of uncollectible accounts to be reported in income statement shall be $101,500

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iragen [17]

Answer:

1.B

2.D

3.C

Explanation:

those just make the most sense

6 0
3 years ago
The Self-development stage of the extratropical cyclone model occurs when _________. upper level divergence moves over a station
weqwewe [10]

Answer: cold and warm air masses interact in an unstable environment.

Explanation: Extratropical cyclones, sometimes called mid-latitude cyclones or wave cyclones, are low-pressure areas which, along with the anticyclones of high-pressure areas, drive the weather over much of the Earth. Extratropical cyclones are capable of producing anything from cloudiness and mild showers to heavy gales, thunderstorms, blizzards, and tornadoes. These types of cyclones are defined as large scale (synoptic) low pressure weather systems that occur in the middle latitudes of the Earth. In contrast with tropical cyclones, extratropical cyclones produce rapid changes in temperature and dew point along broad lines, called weather fronts, about the center of the cyclone .According to the polar-front theory, extratropical cyclones develop when a wave forms on a frontal surface separating a warm air mass from a cold air mass. As the amplitude of the wave increases, the pressure at the centre of disturbance falls, eventually intensifying to the point at which a cyclonic circulation begins. The decay of such a system results when the cold air from the north in the Northern Hemisphere, or from the south in the Southern Hemisphere, on the western side of such a cyclone sweeps under all of the warm tropical air of the system so that the entire cyclone is composed of the cold air mass. This action is known as occlusion.Extratropical cyclones arise through a process called cyclogenesis, in which cold and warm air masses interact in an unstable environment.

5 0
3 years ago
Read 2 more answers
A company purchased a plant asset for $53,000. It has a salvage value of $3,000 and annual depreciation expense of $5,000. It ca
marshall27 [118]

Answer:

The remaining useful life of the asset is = 10 - 3 = 7 years

Explanation:

The straight line method of depreciation charges a constant depreciation expense through out the useful life of the asset. The formula for depreciation expense under this method is,

Depreciation expense = (Cost - Salvage value) / Estimated useful life of the asset

Plugging in the values for depreciation expense per year, cost and salvage value, we can calculate the total expected life of the asset.

5000 = (53000 - 3000) / estimated useful life of the asset

estimated useful life of the asset = 50000 / 5000

estimated useful life of the asset = 10 years

As the accumulated depreciation  balance is of 15000, the depreciation for 15000/5000 = 3years has been charged.

The remaining useful life of the asset is = 10 - 3 = 7 years

3 0
3 years ago
Accounting for lean operations requires fewer transactions because
Shtirlitz [24]
Lean operations including manufacturing and production are a system to minimize waste. This system works proactively and tries to limit the amount of productivity being wasted to manufacture items. Less transactions are needed in this system being they are efficient throughout the organization. 
7 0
3 years ago
Scott Rolen, major league third baseman, agrees to defer $5 million from his salary this year for 10 years at 7 percent compound
iVinArrow [24]

Answer:

What will be the amount of this annuity payment?

$711.888

Explanation:

N Monthly principal interest Net value

                           5.000.000

1 711.888 361.888 350.000 4.638.112

2 711.888 387.220 324.668 4.250.893

3 711.888 414.325 297.562 3.836.568

4 711.888 443.328 268.560 3.393.240

5 711.888 474.361 237.527 2.918.879

6 711.888 507.566 204.322 2.411.313

7 711.888 543.096 168.792 1.868.218

8 711.888 581.112 130.775 1.287.106

9 711.888 621.790 90.097 665.315

10 711.888 665.315 46.572 (0)

7 0
3 years ago
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