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BaLLatris [955]
3 years ago
7

Allowance for Doubtful Accounts has a debit balance of $1,100 at the end of the year (before adjustment), and an analysis of cus

tomers' accounts indicates uncollectible receivables of $12,900. Which of the following entries records the proper adjustment for Bad Debt Expense?
(A) debit Allowance for Doubtful Accounts, $14,000; credit Bad Debt Expense, $14,000(B) debit Bad Debt Expense, $14,000; credit Allowance for Doubtful Accounts, $14,000(C) debit Allowance for Doubtful Accounts, $11,800; credit Bad Debt Expense, $11,800 (D) debit Bad Debt Expense, $11,800; credit Allowance for Doubtful Accounts, $11,800
Business
1 answer:
Nesterboy [21]3 years ago
7 0

Answer:

(B) debit Bad Debt Expense, $14,000; credit Allowance for Doubtful Accounts, $14,000

Explanation:

allowance fordoubtful accounts 1,100 debit

expected uncollectible               12,900

adjustment                                 14,000

We have to adjust to react the 12,900 as ending balancefor the allowance so we have to adjust as much as it takes to be 12,900 balance.

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Magnira Corp. is an apparel company. After a slow start, it saw a steep rise in its clientele and a remarkable increase in its p
Ierofanga [76]

Answer:

The company must create brand recognition and open new branches to access greater number of customers.

Explanation:

Ofcourse having a brand recognition means that the company is oriented towards developing its image that plays a vital role in making choices and this is only possible if its products are widely available in the market by openning new branches and offering other branches to present your products. This will lead to access of product to greater amount of public and greater the number of people will choose Magnira's products.

8 0
3 years ago
If 3,000 is invested at 7% for 6 months,how much simple interest is earned
Shtirlitz [24]
I believe the answer would be $126,000 because 3,000*7*6 equals 126,000. I may have done it wrong since I haven't done this in a while.
4 0
3 years ago
Briefly define the term spend as it is used in business purchasing. In a paragraph or two, explain how the Internet has reduced
Phantasy [73]

Answer: check the attached file for the answer

Explanation:

Download docx
<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark"> docx </span>
<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark"> docx </span>
6 0
3 years ago
Able, Baker, and Carter have partnership capital account balances of $600000 each. Income and losses are shared equally. Carter
poizon [28]

Answer and Explanation:

The Journal entry is shown below:-

Carter's Capital Dr $600,000

                 To Able's Capital $450,000    (3 ÷ 4 × $600,000)

                To Baker's Capital $150,000

(Being Carter’s withdrawal from the partnership is recorded)

For recording this we debited the carter capital as it shows the withdrawn amount and credited the able capital and baker capital so that the total withdrawn collected from these partners could come

4 0
3 years ago
An investor is in a 30% combined federal plus state tax bracket. If corporate bonds offer 9% yields, what yield must municipals
Yuki888 [10]

Answer:

0.063 or 6.3% (or more)

Explanation:

Given:

Combined Tax Bracket = 30% = 30/100 = 0.30

Yields of corporate Bonds = 9% = 9/100 = 0.09

Yield to Shift Investors to choose municipal bonds = ?

Calculation:

Yield from corporate bond = (After tax yield) x Yield rate of corporate Bonds

                                              = (0.70) x (0.09)

                                              = 0.063 or 6.3%

Working note:

After tax yield = (1 - tax rate )

After tax yield = (1 - 0.30 )

After tax yield = (0.70)

so, they must give 6.3% yield

7 0
4 years ago
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