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]
4 years ago
12

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

Business
1 answer:
Flura [38]4 years ago
3 0
Writing off an uncollectible account affects only balance sheet accounts under the allowance method. 
You might be interested in
Who is a shareholder? A Shareholder is the partial owner of the company who purchases and owns _____ in a company.
e-lub [12.9K]

A Shareholder is the partial owner of the company who purchases and owns share of stocks in a company.

7 0
3 years ago
Read 2 more answers
A focus group can help companies determine all of the following EXCEPT
Alekssandra [29.7K]
How much consumers would be willing to pay for a new product
8 0
3 years ago
Read 2 more answers
Johnson Company calculates its allowance for uncollectible accounts as 10% of its ending balance in gross accounts receivable. T
Margaret [11]

Answer:

<em>Incomplete question is "2. What journal entry should Johnson record to recognize bad debt expense for 2021? 3. Assume Johnson made no other adjustment of the allowance for uncollectible accounts during 2021. Determine the amount of accounts receivable written off during 2021 4. If Johnson instead used the direct write-off method, what would bad debt expense be for 2021?"</em>

1. Gross accounts Receivable = Allowance Account balance at beginning / 10%

= $30,000 / 10%

= $300,000

2.     Year   Account Title                              Debit     Credit

       2021  Bad debt expense                   $105,000

                  ($500,000*10% + $55,000)  

                         To Allowance for Doubtful Accounts   $105,000

3.  Accounts receivable written off = Beginning balance of Allowance Account - Ending Balance of Allowance account

= $30,000 - (- $50,000)

= $30,000 + $50,000

= $80,000

4. Bad debt expense for 2021 (direct write off method) = Amount written off = $80,000

4 0
3 years ago
When Home Movies Inc. opened stores in other countries, it increased the company's international market share. Home Movies took
olga55 [171]

Answer:

<h2>In this instance,Home Movies Inc. took advantage of market expansion opportunity to enhance market share.Hence,the correct answer is market expansion.</h2>

Explanation:

In Microeconomics,the practice of market expansion refers to the enhancement of business activities or selling of goods and services into newer sections of the market which encompasses factors such as demographic,economic,geographical,social etc.In this context,the geographical expansion of market can possibly include international markets as well as long it can comprehensively cover the desired consumer group which can lead to higher revenue generation and potential market share.It is an extremely formidable economic strategy for any business organisation or company to expand the consumer accessibility by tapping into new geographical areas in the global or international market.An effective market expansion,however, requires a thorough and considerable market research with a specific emphasis on the the potential new markets that the existing business can easily reach and the new consumer base in those markets who will most probably like the products and/or services sold by the business based on various preferential attributes.This can evidently generate immense opportunities for sales and overall economic growth.

6 0
4 years ago
_______________ are a category of websites that contain personal profiles and that may offer dating or other such services that
gladu [14]
Social media accounts? I'm pretty sure
8 0
4 years ago
Other questions:
  • How often should you typically monitor your checking account?
    6·1 answer
  • what was the main cause behind the lowell strike in the mid nineteenth century? (a. wage cuts)( b. working hours) (c. living con
    7·1 answer
  • The corporate charter of Alpaca Co. authorized the issuance of 10 million, $1 par common shares. During 2018, its first year of
    6·1 answer
  • At the end of 2016, Nash's Trading Post, LLC has accounts receivable of $635,600 and an allowance for doubtful accounts of $23,1
    8·1 answer
  • On Jan 1,2016, the Allegheny corporation purchased machinery for115,000$. The estimated service life of the machinery is 10 year
    5·1 answer
  • Real GDP per capita in the U.S. grew from about​ $6,000 in the year 1900 to about​ $51,500 in​ 2016, an average growth rate of​
    6·1 answer
  • How to make money to live comfortably
    9·2 answers
  • Presented below is pension information for Ceylan Inc.for the year 2019: Service cost $82,000 Interest on projected benefit obli
    6·1 answer
  • Inez is compensated based on a plan that pays a base salary, with commission in addition. Inez receives $40,000/year salary (and
    10·1 answer
  • when a manufacturer sells its products directly to consumers, it engages in which two supply-chain activities?
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!