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VARVARA [1.3K]
2 years ago
15

On February 1, a customer's account balance of $2,300 was deemed to be uncollectible. What entry should be recorded on February

1 to record the write-off assuming the company uses the allowance method? Multiple Choice Debit Allowance for Doubtful Accounts $2,300; credit Accounts Receivable $2,300. Debit Allowance for Doubtful Accounts $2,300; credit Bad Debts Expense $2,300. Debit Accounts Receivable $250; credit Allowance for Doubtful Accounts $2,300. Debit Bad Debts Expense $2,300; credit Accounts Receivable $2,300. Debit Bad Debts Expense $2,300; credit Allowance for Doubtful Accounts $2,300.
Business
1 answer:
Lesechka [4]2 years ago
7 0

Answer:

Debit Allowance for Doubtful Accounts $2,300; credit Accounts Receivable $2,300

Explanation:

The journal entry is shown below:

Allowance for Doubtful Accounts A/c Dr $2,300

             To Accounts Receivable A/c $2,300

(Being the written-off amount is recorded)

Since we have to record this journal entry so we debited the Allowance for Doubtful Accounts A/c and credited the account receivable account so that the correct posting can be done.

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Department F had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $13,400. Of
Rufina [12.5K]

Answer:

a.$3.35

Explanation:

The first step in determining  conversion cost per unit is to calculate the Total Equivalent units of production for Conversion Costs.

Conversion Costs

Units Completed and transferred (15,000 × 100%) = 15,000

Units in Ending Work In Process (3,000 × 75%)      =  2,250

Total Equivalent units of production                        =  17,250

The next step is to determine the total conversion cost of production incurred during the period.

Conversion Costs

Conversion Costs in Beginning Work In Process                               $4,800

Conversion Costs added during the period ($33,000 + $20,000) $53,000

Total Conversion Costs                                                                      $57,800

Finally calculate the conversion cost per unit

Conversion cost per unit = Total Conversion Costs  / Total Equivalent units of production

                                         = $57,800 / 17,250

                                         = $3.35 (to the nearest cent)

4 0
3 years ago
"The ownership interest held by the lessor, which includes the right to receive the contract rent specified in the lease plus th
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Answer:

Leased Fee Interest

Explanation:

Leased Fee Interest refers to the right of the lessor to lease his property to a tenant and earn rental income in addition to the value of the asset which is reverted back to the lessor upon expiry i.e reversionary right.

The total of leased rental payments and reversionary value is termed as Leased Fee Interest.

A lease is a contract wherein one party i.e the lessor agrees to lend the asset to other party i.e the lessee in exchange of periodic payments in the form of lease rentals usually without transferring the ownership of the asset.  

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We are given the different rates and charges and is asked in the problem the unknown tax rate she pays on meals if the total cost of the trip is equal ot $420.04. In this case, the equation goes: 
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3 years ago
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Answer: The cost of the previous repairs.

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