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
Type the correct answer in the box. Spell all words correctly. Modern Internet services help businesses provide timely customer
Ainat [17]

Answer:SMS/Messages

Explanation:

Inservices allows users to send an recive text messages.

3 0
2 years ago
Marketers describe the way a consumer processes information to arrive at brand choices as ________.
myrzilka [38]

Alternative evaluation is what Marketers characteristic the way the consumer make information to arrive at brand choices as alternative evaluation.  After buying a product, the consumer will be satisfied or dissatisfied and will engage in post purchase behaviour. The relationship between the consumer's expectations and the product's perceived performance determines whether the buyer is satisfied or dissatisfied with a purchase.

5 0
3 years ago
Suppose independent truckers operate in a perfectly competitive constant cost industry. If these firms are earning positive econ
Deffense [45]

Answer:

The price of trucking services would fall until equilibrium prices are reached. Only normal profit would be earned in the long run

Explanation:

A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.  

In the long run, firms earn zero economic profit.  If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.  

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.  

8 0
3 years ago
10) A worker performs a repetitive assembly task at a workbench to assemble products. Each product consists of 25 components. Va
erik [133]

Answer:

a.9.313hr

b.116.4%

c.104.0%

Explanation:

(a) Hstd= 75(7.45)/60 = 558.75/60 = 9.313 hr

(b) Ew= 9.313/8.0 = 1.164 = 116.4%

(c) Time worked = 480 – 13 = 467 min

Tc= (467 min)/(75 pc) = 6.227 min/pc

Tn= 7.45/(1 + 0.15) = 6.478 min/pc

Pw= 6.478/6.227 = 1.040 = 104.0%

6 0
3 years ago
What type of life insurance are credit policies issued as?
trasher [3.6K]
<span>They are considered decreasing term policies. In these policies, the benefits usually decrease over the life of the policy: that is, the closer one gets to the end of the policy term, the less the benefit will typically be. At the end of the term, there is no option to renew for the same premiums, and the policy simply expires.</span>
6 0
3 years ago
Other questions:
  • A company has inventory of 15 units at a cost of $12 each on August 1. On August 5, they purchased 10 units at $13 per unit. On
    12·1 answer
  • When the mutually exclusive alternatives under consideration have only disbursements (service alternatives), the do-nothing alte
    9·1 answer
  • Mullis company sold merchandise on account to a customer for $625, terms n/30. the journal entry to record the collection on acc
    8·1 answer
  • Little's law states that the average number of people in a waiting line is the average customer arrival rate multiplied by the:
    11·1 answer
  • The table shown below gives the short-run total cost function Noel’s window cleaning firm. This firm competes in a perfectly com
    12·1 answer
  • Suppose that a nation has a GDP of 1.0 trillion dollars in 2000. If a country grows at an average rate of 3.0 % per year over a
    12·1 answer
  • Mega Loan Company has very stringent credit requirements and, accordingly, has negligible losses from uncollectible accounts. Th
    14·1 answer
  • Ricord Books, a publication house, faced huge losses after 2008. The majority of its readers were born during the late 1950s, wh
    11·1 answer
  • What economist is known for the use of microcredit?
    12·1 answer
  • How did you find the total expense?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!