Sharon had spent months carrying out her sociological experiments. she had collected a ton of data. what was sharon's next step?

Under the allowance method, writing off an uncollectible account Group of answer choices affects both balance sheet and income s

marishachu [46]

Answer:

Under the allowance method writing of uncollectible account will only affect Balance sheet accounts

Explanation:

Uncollectibles when write of under allowance method will create reduce account receivable one side and also results in reduction of allowance for receivable on other side created previously, thus having impact only on balance sheet:

Entry will be:

Dr: Allowance for Doubtful Debts (Balance Sheet Item)

Cr: Account Receivable (Balance Sheet Item)

4 0

3 years ago

Johnson Enterprises uses a computer to handle its sales invoices. Lately, business has been so good that it takes an extra 3 hou

azamat

Answer:

The old computer should be replaced since the differential amount of the replacing it with a new computer is $10,000

Explanation:

Old machine New machine Differential

amount

purchase cost $0 ($15,000) ($15,000)

operating costs year 1 ($24,600) ($19,600) $5,000

operating costs year 2 ($24,600) ($19,600) $5,000

operating costs year 3 ($24,600) ($19,600) $5,000

operating costs year 4 ($24,600) ($19,600) $5,000

operating costs year 5 ($24,600) ($19,600) $5,000

TOTAL ($123,000) ($113,000) $10,000

4 0

3 years ago

g On July 1, Alton Co. issued an $60,500, 10%, 120-day note payable to Seller Co. Assume that the fiscal year of Alton Co. ends

irakobra [83]

Answer:

The interest expense is $521

Explanation:

The amount of interest expense for the fiscal year is the interest expense of 31 days which ,in other words the interest incurred only in the month of July ,calculated thus:

interest expense=days in the month/360days*interest rate*loan amount

interest expense=31/360*10%*$60,500=$ 521

The interest expense for the current fiscal year rounded to the nearest dollar amount is $ 521

8 0

3 years ago

An organization of investors usually in the form of a limited partnership who have joined together for the purpose of pooling ca

Nutka1998 [239]

An organization of investors usually in the form of a limited partnership who have joined together for the purpose of pooling capital for the acquisition of real property interests is known as a Real Estate Syndicate.

An organization is a group of people working together, such as a neighborhood association, charity, union, or business. The word organization can be used to refer to a group or enterprise or the act of forming or establishing something.

An organization is an official group of people such as a political party, business, charity or club. Most of these vocational schools are provided by volunteer organizations. ... Reported by the International Labor Organization. Synonyms: Synonyms for groups, companies, associations, associations, and organizations.

Learn more about organization here:brainly.com/question/19334871
#SPJ4

6 0

2 years ago

Belton, Inc. had the following transactions in 2018, its first year of operations:• Issued 33,000 shares of common stock. Stock

Finger [1]

Answer:

A) $792,000

Explanation:

33,000 shares of common stock

issued at:

market value 24 dollars

face vale 1 dollar

additional paid-in 23 per share

Equity:

Common Stock

33,000 shares x 1 = 33,000

Additional Paid-in capital

33,000 shares x 23 = 759,000

Total capital 792,000

The total paid-in capital will be the sum of both, the common stock and the paid-in capital in excess of par.

5 0

3 years ago