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Zolol [24]
3 years ago
13

At the beginning of the year, the balance in Allowance for Doubtful Accounts is a credit of $760. During the year, $120 of previ

ously written off accounts are reinstated and accounts totaling $740 are written off as uncollectible. The end-of-year balance (before adjustment) in Allowance for Doubtful Accounts should be
Business
1 answer:
Mekhanik [1.2K]3 years ago
3 0

Answer:

=$140

Explanation:

At the beginning of the year, the account had a credit(positive balance of $760)

Previously bad debt that has been reinstated, $120

The new balance will be $760 + $120 = $860

adjusting for the written-off accounts

=$860 - $740

=$140

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A(n) _____ is an independent wholesaler who buys related product lines from many manufacturers and sells them to industrial user
Genrish500 [490]

Answer:

1- Industrial distributors

Explanation:

1- They are independent wholesalers that often have a sales force they call on purchasing agents, they also make deliveries, extend credit and provide valuable information. This kind of distributors are used in different industries such as manufacturing, mining, etc.

2- Marketing concept: It is a Philosophy that establish a Company should analyze which are their client´s need and after that, make decisions to satisfy those need, better than anyone else. This concept is adopted by most of the firms nowadays.

3 0
4 years ago
Define a strong dollar?
lora16 [44]

Answer:

A strong dollar occurs when the U.S. dollar has risen to a level against another currency that is near historically high exchange rates for the other currency relative to the dollar.

Explanation:

3 0
3 years ago
Read 2 more answers
Alphabet Company, which uses the periodic inventory method, purchases different letters for resale. Alphabet had no beginning in
Mekhanik [1.2K]

Answer:

$94

Explanation:

The computation of the cost of the ending inventory using the FIFO method is shown below:

But before that first we have to determine the ending inventory units which is

= 7 units from A to G + 5 units from H to L + 6 units from M to R

= 18 units

And, 6 units are sold

So, the ending inventory units is 12 units

Now the ending inventory is

From last to beginning

= 6 units × $8.50 + 5 units × $7.50 + 1 units × $5.50

= $51 + $37.5 + 5.50

= $94

This is the answer but the same is not provided in the given options

4 0
3 years ago
Do you think that contracts or other financial instruments that do not have readily available market prices should be accounted
Damm [24]
<span>Fair value is defined as, a rational and unbiased estimate of the potential market price of a good, service, or asset. It takes into account such objective factors as: acquisition/production/distribution costs, replacement costs, or costs of close substitutes.

Since this is an opinion question, either answering yes or no is correct, but you have to say why. 


If I understand the question correctly, and the question isn't missing any parts, I would assume it's asking if you should put value on contracts as a document and other financial instruments. 

I was going to say no, but because contracts can be transferred or used as currency, I would say yes. 

If you say yes I would argue that giving a fair value of the contracts would make them more legal and have more bearing in a place of business.  That it would prevent the fluctuation of value on that contract based on other factors like profit/loss and whether or not you transferred, changed, etc. the contract. I would argue that to protect that contract and other financial instruments, and the holders stake in it, you should create a fair value for it.  

If you say no, I would argue that the contract can already be treated as a form of currency, and because of that it should not have a fair value placed on it.  I would also argue that because contracts often times state the value of that contract within itself, that it should not have a fair value.  And finally, I would argue that because with time, the value of items change, you should not place a fair value on a document that can be changed and can lose or gain value with time based on the purposed information in the contract.
</span>
3 0
3 years ago
The phase of the product life cycle in which healthy profits usually begin to appear is the _____ stage.
Aneli [31]
<span>The answer is the growth stage. The introduction stage, when a company is launching a new product is normally the most expensive for a company launching a new product. In that stage, expenses are high but market size and sales are low. The growth stage is were sales increase, and company profits grow as the economies of scale in production grow, allowing more investment in promotional activities that grows the market.</span>
7 0
3 years ago
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