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AnnZ [28]
3 years ago
10

The balance of the Allowance for Doubtful Accounts account at January1 of the current year was $6,800. During the year, accounts

receivable in the amount of $9,000 were written off. Estimated uncollectible accounts expense using the percentage-of-sales basis for the year amounts to $7,200. The balance of the Allowance for Doubtful Accounts account to be reported on the balance sheet at year-end is
(A) $7,200.
(B) $5,000.
(C) $14,000.
(D) $8,600.
Business
1 answer:
Stella [2.4K]3 years ago
7 0

Answer:

Given:

Accounts receivable = $9,000

Allowance for Doubtful Accounts (current year) = $6,800

Estimated uncollected accounts expense = $7,200

The balance of the Allowance for Doubtful Accounts to be reported on the balance sheet at year-end can be computed as:

Allowance for Doubtful Accounts (at year end) = Allowance for Doubtful Accounts (current year) + Estimated uncollected accounts expense - Accounts receivable

Allowance for Doubtful Accounts (at year end) =  $6,800 + $7,200 - $9,000

Allowance for Doubtful Accounts (at year end) =  $5,000

∴ <em><u>The balance of the Allowance for Doubtful Accounts to be reported on the balance sheet at year-end is $5,000.</u></em>

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Coworking is an arrangement in which workers of different companies share an office space, allowing cost savings and convenience through the use of common infrastructures, such as equipment, utilities, and receptionist and custodial services, and in some cases refreshments and parcel acceptance services.

6 0
3 years ago
The performance management approach that uses job performance evaluations to identify a company's best, average, and worst perfo
timurjin [86]

The performance management approach that uses job performance evaluations to identify a company's best, average, and worst performing employees, using person-to-person comparisons, is known as "forced ranking".

<h3>What is forced ranking?</h3>

The contentious practice of "forced ranking," which grades employees against one another rather than against performance standards, is very popular in corporate America.

The problem with forced ranking are-

  • This can lead to a lack of motivation and disengagement among employees as well as unneeded internal competition that can harm collaboration, creativity, and innovation and divert attention from market competition.
  • Although contentious, forced ranking systems are legal. Employers who choose to take action based on those rankings, however, run a number of legal dangers.

The forced rankings beneficial from an employee perspective, here are reasons-

  • This system teaches a manager how to assess employees objectively with the right management training.
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To know more about example of forced ranking, here

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6 0
2 years ago
How does Amazon illustrate the sources of service sector growth?
aleksandrvk [35]

Answer:

The service sector grows because of the same reason that any other economy sector grows: the demand for it increases.

Explanation:

Demand increases because new services are created, or existing ones obtain more customers: a larger market share.

In the case of Amazon, the service it offers is deliveries, but Amazon took deliveries to its logical conclusion, becoming an online store that essentially sells everything, from books to car accessories, to fruits and vegetables.

Amazon has become a giant company because it exploited a existing market that had a lot of untapped potential, and customers at the same time responded by demanding even more of these services. In other words, Amazon and the customers formed a virtous cycle that feeds economic growth.

7 0
3 years ago
The Baldwin Company currently has the following balances on their balance sheet: Total Liabilities $73,225 Common Stock $12,173
ankoles [38]

Answer:

Their total assets next year has to be $124,725

Explanation:

<em>Step 1: Determine the initial assets and liabilities</em>

The total assets can be expressed as;

A=C+E

where;

A=total assets

C=common stock

E=retained earnings

In our case;

A=unknown

C=$12,173

E=$91,949

replacing;

A=12,173+91,949=$104,122

<em>Step 2: Determine total liabilities</em>

Total liabilities=initial liability+dividends

where;

Initial liability=$73,225

dividends=$15,000

replacing;

Total liabilities=73,225+15,000=$88,225

<em>Step 3: Determine new assets</em>

Using the formula;

Net profit=new assets-total liabilities

where;

Net profit=$36,500

new assets=unknown=n

total liabilities=$88,225

replacing;

36,500=n-88,225

n=36,500+88,225=$124,725

n=$124,725

Their total assets next year has to be $124,725

<em />

6 0
3 years ago
Which best summarizes the data presented in this graphic? A) Over the past 6 years, zoned farming has outperformed zoned commerc
german

Answer:

d) over the past 6 years, zoned farming has remained consistent, zoned commercial has decreased, and zoned residential has increased.

Explanation:

<em>I have attached the graph.</em>

As seen on the graph, it is clear that "zone farming" has<em> remained constant</em> at 5% over the past 6 years<u> (2002-2008)</u>. "Zone commercial," on the other hand, has decreased by 10% and "zoned residential" has increased by 10%.

So, this makes choice d as the answer.

6 0
3 years ago
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