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Anastaziya [24]
3 years ago
5

Obama Company has identified that Bill Clinton’s receivable account of $100 is uncollectible. What is the journal entry needed t

o write off the account under the allowance method? Allowance for Doubtful Accounts 100 Bad Debts Expense 100 Allowance for Doubtful Accounts 100 Accounts Receivable 100 Accounts Receivable 100 Bad Debts Expense 100 Bad Debts Expense 100 Accounts Receivable 100
Business
1 answer:
DerKrebs [107]3 years ago
4 0

Answer:

Allowance for Doubtful Accounts 100 Accounts Receivable 100

Explanation:

The allowance method first estimates an allowance for doubtful debts.When the company receives the actual figure of the amount that have gone wrong, it writes off the  trade receivable and utilizes the allowance provided for

<u>When allowance is estimated </u>

Bad Debts (debit)

Allowance for doubtful debts (credit)

<u>When the  actual figure of the amount that have gone wrong is obtained</u>

Allowance for doubtful debts (debit)

Account Receivable (credit)

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when zoning deprives the owner of all economic value of her property, it will be categorized be scrutinized under the constituti
Natalija [7]

When zoning deprives the owner of all economic value of her property, it will be categorized be scrutinized under the constitutions Takings Clause and Fifth Amendment.

Economics is defined as a technology that deals with the making, dispensing, selling, and shopping of products and services. An instance of economics is the have a look at the inventory market.

Economics, at its very heart, is the look of humans. It seeks to give an explanation for what drives human behavior, selections, and reactions while faced with problems or successes. Economics is an area that combines politics, sociology, psychology, and history.

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8 0
2 years ago
Suppose that when the average college student’s income is $10,000 per year, the annual quantity demanded of Patty’s Pizza is 50
wolverine [178]

Answer:

The income elasticity of demand for Patty's Pizza is 1. Positive income elasticity shows that Pizza is a normal good.

Explanation:

The annual income of the student's is $10,000.

The annual quantity demanded for patty's pizza is 50 units.

When the income increases to $12,000, the quantity demanded will also increase to 60 units.

There is a positive relationship between the quantity demanded of pizza and income level.

This indicates that pizza is a normal good.

The income elasticity of pizza is 1, the solution is given in the figure below:

3 0
4 years ago
What is a computer and its impact to society
Schach [20]

Explanation:

computers have changed the way people relate to one another and their living environment as well as how humans organise their work and their time

4 0
3 years ago
Seidman Company manufactures and sells 20,000 units of product X per month. Each unit of product X sells for $17 and has a contr
True [87]

Answer:

Effect on income= $115,000 decrease

Explanation:

Giving the following information:

Fixed costs= $45,000

Number of units= 20,000

Unitary contribution margin= $8

<u>To calculate the effect on income, we need to use the following formula:</u>

Effect on income=  decrease in fixed costs - decrease in contribution margin

Effect on income= 45,000 - 20,000*8

Effect on income= $115,000 decrease

4 0
3 years ago
Dr. Jones’ office has purchased the above equipment. It is now Year #2 and there is a $7,000 annual maintenance fee that needs t
Paul [167]

The Loss recorded in the year 2 for the table is -$35,841.39.

<h3>What is the profit or loss on the table? </h3>

<u>Year 2 </u>

Monthly Cost in year  $1564.29

Maintenance               $0  

Salary                          $39600

Fixed cost                   $0

Variable cost              <u>$356.40</u>

Total cost                   <u>$41520.69</u>

Reimbursements = $5679.30

Profit or Loss = Reimbursements - Total cost

Profit or Loss = $5679.30 - $41520.69

Loss =  -$35,841.39.

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3 0
2 years ago
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