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
Over [174]
3 years ago
12

Writing off an uncollectible account affects ________ under the allowance method.

Business
1 answer:
Flura [38]3 years ago
3 0
Writing off an uncollectible account affects only balance sheet accounts under the allowance method. 
You might be interested in
Fredrick purchased a property worth $150,000 on mortgage. He paid $30,000 as a down payment on this property. However, a recent
Eva8 [605]

Answer:

Real estate short sale

Explanation:

Real estate is defined as a piece of land and any attached property that is constructed on it.

In real estate business a real estate short sale occurs when the person that owns a property decides to sell the property at a price that is less than the amount on the mortgage.

This usually occurs as a result of financial distress of the owner.

In the given scenario the property has a mortgage value of $150,000 and down payment of $30,000 has been made.

The mortgage amount is now $150,000 - $30,000 = $120,000

However they now sell the property for $115,000 which is less than the remaining mortgage value of $120,000.

This is and example of real estate short sale.

5 0
3 years ago
Baseball Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $19,500. Budgeted cash rec
Mice21 [21]

Answer:

$12,500

Explanation:

Budgeted cash receipts refer to the money that the company expects to receive in a specific period of time.

Budgeted cash disbursements are the payments that the company expects to make in a specific period of time.

$19,500+190,500-191,000= 19,000

Then, you have to subtract 19,000 from 31,500 to determine the amount that the company needs to attain its desired ending cash balance:

31,500-19,000= 12,500

According to this, the company should borrow $12,500.

4 0
3 years ago
Kleen Company acquired patent rights on January 10 of Year 1 for $400,000. The patent has a useful life equal to its legal life
inessss [21]

Answer:

a. Particulars                                  Amount  

Patent cost                                     $400,000  

Less: Amortization for 3 years      <u>$150,000 </u> ($400,000*3/8)

Book value at the end of year 3  $250,000

Addition during Year 4                  <u>$20,000  </u>

Total book value                            <u>$270,000</u>

Patent amortization expense for the Year 4 = Total book value / Remaining life

Patent amortization expense for the Year 4 = $270,000 / 5

Patent amortization expense for the Year 4 = $54,000

b.                       Adjusting Entry

Date  Account titles                   Debit       Credit

         Amortization expense    $54,000

                Patents                                       $54,000

6 0
2 years ago
Karen runs a print shop that makes posters for large companies. It is a very competitive business. The market price is currently
V125BC [204]
AFC mean average fixed costs. This is equal to total fixed costs divided by the amount of output. If the output is equal to 1000, then the AFC is

AFC = $250.00 ÷ 1,000
AFC = $ 0.25

I hope I was able to answer your question. Thank you and have a good day.
6 0
3 years ago
The purpose or objectives of competition policy
denis23 [38]

Answer:

to encourage creativity

3 0
3 years ago
Other questions:
  • What was the penalty countries incurred for not being part of the world trade system?
    9·1 answer
  • When potential capital investments of different size are​ compared
    7·1 answer
  • Trina applied for a new credit card with an introductory APR offer of 7.99% or 8.99%. What will most likely happen in the second
    13·1 answer
  • A _____ is something that has been learned.
    6·2 answers
  • The most productive way to find a job lead is to
    15·2 answers
  • May 31, 2018 June 30, 2018
    5·1 answer
  • During 20X5 Peterson Company experienced financial difficulties and is likely to default on a $500,000, 15%, three-year note dat
    12·1 answer
  • Law governing relations among governments and international organizations is referred to as _______,while law that applies to pr
    7·1 answer
  • Clarifying the issues of a problem is the _____ step in the problem solving process.
    6·1 answer
  • Which model allows private companies to set up manufacturing units on prison grounds or purchase goods made by inmates in shops
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!