Why do we use a plug key in the circuit?<br>

Arundel Company uses aging to estimate uncollectibles. At the end of the fiscal year, December 31, 2018, Accounts Receivable has

Ipatiy [6.2K]

Answer:

After the adjusting entry is made, Allowance for Doubtful Accounts balance is a credit balance of $22,290

Explanation:

Arundel Company uses aging to estimate uncollectibles.

Estimated uncollectibles = $250,000 x ( 1 - 99.5%) + $70,000 x (1 - 91%) + $30,000 x (1 - 73%) + $8,000 x (1 - 17%) = $1250 + $6,300 + $8,100 + $6,640 = $22,290

The current unadjusted Allowance for Uncollectible Accounts balance is a debit balance of $2,000.

Bad debt Expense = $22,290 + $2,000 = $24,290

The adjusting entry:

Debit Bad debt Expense $24,290

Credit Allowance for Doubtful Accounts $24,290

After the adjusting entry is made, Allowance for Doubtful Accounts balance is a credit balance of $22,290

4 0

3 years ago

Income Statement, Retained Earnings Statement, and Balance Sheet The amounts of the assets and liabilities of Glacier Travel Ser

pashok25 [27]

Answer:

Income Statement Dec. 31, 20Y6

<u> Glacier Travel Service </u>

Total revenue $900,000

- Wages expense ($425,000)

- Rent expense ($180,000)

- Utilities expense ($75,000)

- Supplies expense ($38,000 )

<u>- Miscellaneous expense ($37,000) </u>

EBIT $145,000

<u>- Taxes ($30,000)</u>

Net profit $115,000

4 0

3 years ago

Mobile phones have evolved from devices intended to place and receive phone calls into handheld multimedia communications device

Bumek [7]

Answer: creeping featurism

Explanation: Creeping featurism is a slang used for the term feature creep. It refers to the problem faced by the consumers due to continuous addition of features in an existing product. These addition make the product more complex and hard to use for the users.

In the given case, some customers of mobile phone have a belief that the new features added to the phones have made it complex and less reliable.

Thus, we can conclude that the given case is an example of creeping featurism.

7 0

3 years ago

Presented below is the operating activities section of the statement of cash flows for Golden Consulting for 2016:

dimaraw [331]

Answer:

b. The indirect method

Explanation:

The Operating Activity Section Calculates the Net Cash flow from Operating Activities. It can be prepared in only two methods according to IAS 7.The methods are Indirect Method, Direct Method

Indirect Method Reconciles the Net Income for the Year to the Net Cash flow from Operating Activities after adjustments of Non- Cash flow Items, and Adjustments for Working Capital Movements.

Direct Method focuses on the Cash Inflows and Outflows related to the Operating activities to Calculate the Net Cash flow from Operating Activities.These Cash flows results from Receipts from Customers and Payments made to Suppliers and Employees

6 0

3 years ago

Question 10 of 10: you've been meaning to fix those rotted boards on your porch for years. finally, last week the deck gave way.

yulyashka [42]

you've been meaning to fix those rotted boards on your porch for years. finally, last week the deck gave way. No, you will not be able to recover the cost of replacement. This is further explained below.

Generally, the cost; In order to get or carry out (something), one must first spend (a certain quantity of money).

In conclusion, You've been looking at the rotten planks on your porch for years and know you need to do something about it. The deck ultimately collapsed last week. The cost of replacement cannot be recouped, unfortunately.

Why do we use a plug key in the circuit?​

Why do we use a plug key in the circuit?