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4 years ago

The direct write off is used when:

Business

1 answer:

Thepotemich [5.8K]4 years ago

3 0

Answer:

The correct answer is letter "A": Uncollectible accounts are not anticipated or immaterial.

Explanation:

Direct write-off is a method used to record debts from credit sales. An allowance account is not used with this method but an account receivable directly written-off for the outstanding amount once it is determined to be uncollectible. This method is used for tax-reporting purposes.

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Question 37Gray Company uses the periodic inventory system to account for inventories. Information related to Gray Company's inv

kupik [55]

Answer:

Last inventory of 110 @ 6 = 660

Explanation:

1. Ending Inventory using FIFO

24th purchase 200 @ 11.8 = 2360

16th Purchase 350 @ 10.8= 3780

TOTAL=6140 (adding the 24th and 16th purchases)

2. Ending Inventory using Weighted Average

Total Inventory = 2000 units

Total Cost = 21080

Per unit = 21080/2000 = 10.54 (divide total cost / Total inventory)

Therefore, 550*10.54= 5797 (units remain multiplied by cost per unit)

3. Ending Inventory using LIFO

1 Beginning inventory = 400 @ 9.8 = 3920

8th purchase 150 @ 10.4= 1560

Total = 5480 (Obtained by adding beginning inventory and the 8th purchase)

Sunland Shutter

Answer is 660

First in First out . Last inventory of 110 @ 6 = 660

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4 years ago

What makes buying a foreclosed property risky? Give at least 2 reasons

Harrizon [31]

Answer: It might be stolen or in conflict.

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4 years ago

System testing:

yarga [219]

Answer:

C) tests the functioning of the system as a whole.

Explanation:

System testing refers to a process in which a complete system is evaluated to make sure that it works properly and fulfills the requirements. According to this, the answer is that system testing tests the functioning of the system as a whole.

The other options are not right because system testing doesn't separate components or programs as it involves the actual evaluation of the whole system to find defects and it is done before the acceptance testing.

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3 years ago

In the context of the global economic crisis, _____ are defined by experts as loans to borrowers with low credit scores, high de

Stolb23 [73]

Answer:

The correct answer is subprime mortgages.

Explanation:

Subprime mortgages are loans that are provided to those individuals who have low credit scores. These individuals do not qualify for conventional mortgages because of low credit score. They may have a high debt to income ratio or other signs showing a higher risk of default. A higher interest rate is charged on these loans.

Defaults on subprime loans have been blamed for the financial crisis of 2008.

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3 years ago

Dehnert Midwifery's cost formula for its wages and salaries is $2,030 per month plus $409 per birth. For the month of May, the c

notsponge [240]

Answer:

The Answer is A. $47,838.

Explanation:

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3 years ago