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Annette [7]
3 years ago
15

An alternative name for Bad Debt Expense is A. Collection Expense.B. Credit Loss Expense.C. Uncollectible Accounts Expense.D. De

adbeat Expense
Business
1 answer:
PIT_PIT [208]3 years ago
6 0

Answer:

An alternative is also known as Uncollectible accounts expense

Explanation:

A bad debt expense is recognized when a receivable is no longer collectible because a customer is unable to fulfill their obligation to pay an outstanding debt due to bankruptcy or other financial problems.

Bad debt expenses are generally classified as a sales and general administrative expense and are found on the income statement. Recognizing bad debts leads to an offsetting reduction to accounts receivable on the balance sheet.

<u>Bad debt expense is also known as Uncollectible accounts expense</u>

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g Floyd Corporation had a projected benefit obligation of $3,142,000 and plan assets of $3,308,000 at January 1, 2020. Floyd als
Lorico [155]

Answer:

Floyd Corporation

a. Projected benefit obligation, 01/01/2020 =  $ 3,142,000

b. Plan asset value, 01/01/2020   =                  $ 3,308,000

Corridor:

10% of greater of (a) or (b) [(b) in this case] =     $330,800

Actuarial loss =                                                    ($438,720)

a) Minimum Amount to be amortized =              $107,920

Average remaining service life of employees = 7.10  years

b) Amount to include in pension cost for 2020 = $15,200

Explanation:

Floyd is required to use the Corridor approach to determine the amount of gains and losses to recognize (amortize) in pension expense each period.  The corridor approach is a technique used to reduce the amounts of gains and losses to be recognized as an adjustment to pension expense.

With this technique gains and losses in excess of 10 percent of the greater of the projected benefit obligation or the market-related asset value are recognized.  The 10 percent is the corridor.

Any excess over the 10 percent should be amortized over the average remaining service period of active employees expected to participate in the plan.  This amount represents the minimum amount a company can recognize.   No gain or loss is recognized when the gains or losses are not in excess of 10% of the appropriate amount.

The corridor reduces the volatility of the pension expense.

7 0
3 years ago
The ways a product can reach a customer is called
frozen [14]

Answer: Distribution

6 0
3 years ago
Which of the following is not a common term for a mortgage loan? A. 30 years B. 20 years C. 15 years D. 10 years
Whitepunk [10]
D. 10 years, the rest are common
6 0
3 years ago
What is the most likely effect of the development of XBOX with DVD capabilities on the DVD player industry? a. ​decreased price
Shkiper50 [21]

Answer:

The correct answer is letter "B": ​Increased price elasticity of demand for the DVD player industry because XBOX are substitutes.

Explanation:

Price elasticity of demand reflects the changes in quantity demanded for a good or service as a result of changes in price. It is calculated by dividing the percentage change in quantity demanded by the percentage change in price. If the result is equal to or greater than one (1) the demand is elastic.<em> It means a minimum change in price has a major impact on the quantity demanded volume. </em>

Thus, <em>if XBOX implements DVD features, DVD players will face an increase in their price elasticity of demand because changing DVD players' prices could change their quantity demanded by far because consumers will prefer purchasing an XBOX which is a substitute.</em>

7 0
3 years ago
Using the information below for Sundar Company; determine the total manufacturing costs added during the current year:
defon

Answer: $96,500

Explanation:

Manufacturing cost includes all the costs that went into production in a period including direct costs and manufacturing overhead:

= Direct materials + Direct labor + Manufacturing Overhead

Manufacturing overhead = Beginning work in process + Factory overhead - Ending work in process

= 11,200 + 52,600 - 11,800

= $52,000

Manufacturing cost = 19,500 + 25,000 + 52,000

= $96,500

3 0
3 years ago
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