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
tankabanditka [31]
3 years ago
11

Ransdell Corporation estimates that $15,000 of the current period’s credit sales will be uncollectible. Where will these bad deb

ts be reported in Ransdell’s financial statements?
Business
1 answer:
Naily [24]3 years ago
5 0

Answer:

Bad Debts Expense of $ 15,000 in the income statement and offset of receivables by $ 15,000 in the balance sheet.

Explanation:

The portion of credit sales considered to be uncollectible will be recorded as an expense in the income statement for the period. This is usually classified as bad debts expense and appears in the income statement as a debit or expense.

The corresponding credit shall be either to an Allowance for Uncollectible accounts if a provision is made or directly as a credit to the receivables account.

In either manner the effect is to reduce the receivable in the balance sheet

You might be interested in
Several employees at a fast-food restaurant call in sick at the last minute. The manager tries to fill in but doesn't know how t
VikaD [51]

Answer:  Trained incapacity

Explanation: In simple words, it refers to the idea that after gaining a certain kind of education, skill or experience etc. the level of thinking of an individual cannot go beyond a certain limit.

In the given case, the manager was the upper level employee and was not habitual to the work that was performed by the workers in the restaurant.

Therefore this position in the workplace limited his skills of performing only the managerial work.

Hence from the above we can conclude that the above case depicts trained incapacity.

3 0
3 years ago
when compared to the country of origin principle, the country of reception approach to jurisdiction over internet transactions
Oxana [17]

When compared to the country of origin principle, the country of reception approach to jurisdiction over internet transactions requires business managers to have more knowledge of the laws of other countries.

<h3>What is the significance of country of origin principle?</h3>

The country of origin principle is an important feature of leading parts of Union law. It is also known as<u> home country control, </u><u>country</u><u> of </u><u>origin</u><u> rule</u>, and <u>country of </u><u>origin</u><u> </u><u>principle</u><u>.</u>

The country of origin principle mainly aims to ensure the effective protection of the public interest in the country of origin.

Basically, the country of origin principle has the main purpose to vest exclusive jurisdiction to regulate in one Member State only.

Learn more about the country of origin principle here:-

brainly.com/question/16529312

#SPJ4

8 0
1 year ago
In the month of November, Cullumber Company Inc. wrote checks in the amount of $10,230. In December, checks in the amount of $11
lara31 [8.8K]

Answer and Explanation:

The computation of the outstanding checks is shown below:

For the November end

= Checks - presented in the bank

= $10,230 - $8,240

= $1,990

For the December end

=  Checks - presented in the bank + presented in th bank - checks

= $10,230 - $8,240 + $11,815 - $10,655

= $3,150

We simply applied the above formula

8 0
3 years ago
Which two types of accounts offer tax benefits before saving?
Ainat [17]
A and D are the correct answer
7 0
3 years ago
Firms in which market structure hold the most market power? monopolistic competition monopoly oligopoly perfect competition
Oxana [17]
Monopoly. A good way to remember this is that "mono" means "one" so, they are always #1 when it comes to market power.
5 0
3 years ago
Read 2 more answers
Other questions:
  • Lost business, psychological damage, medical expenses, temporary lodging and pets killed are all examples of:
    10·1 answer
  • Orlin purchases a refrigerator, on credit, from a door to door salesman. Orlin only has a 5th grade education, and the terms of
    10·1 answer
  • You are thinking about a project to expand your business. In order to start the project, you have to invest $200,000 in new equi
    8·1 answer
  • Marketing strategies A) enable marketing managers to be satisfied just planning present activities. B) ensure that every opportu
    7·1 answer
  • If the expected sales volume for the current period is 7,500 units, the desired ending inventory is 263 units, and the beginning
    12·1 answer
  • Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginnin
    10·1 answer
  • Suppose the government imposes a 20-cent tax on the sellers of artificially-sweetened beverages. The tax would shift a. demand,
    9·1 answer
  • Follow = Multiple thanks ​
    5·1 answer
  • Have you ever financed anything on a short term or long term arrangement? ​
    5·1 answer
  • (g) The government imposes a per-unit tax on the production of knowledgium. Which of the seven cost curve(s) would be affected
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!