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mamaluj [8]
3 years ago
11

A company has $91,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts.

Experience suggests that 5% of outstanding receivables are uncollectible. The current balance (before adjustments) in the allowance for doubtful accounts is a(n) $810 debit. The journal entry to record the adjustment to the allowance account includes a debit to Bad Debts Expense for:
Business
1 answer:
lilavasa [31]3 years ago
8 0

Answer:

$5,360

Explanation:

The adjusting entry is shown below:

Bad debt expense  $5,360

       To Allowance for doubtful debts  $5,360

(Being the bad debt expense is recorded)

For recording this we debited the bad debt expense as it increased the expenses and credited the allowance for doubtful accounts as it reduced the assets

The computation is shown below:

= $91,000 × 5% + $810

= $5,360

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As you get older, a Target Date Fund will adjust
sweet [91]

The target Date fund will adjust by holding your stocks the same and slightly increasing your bonds. Therefore the correct option is (D).

<h3>What is Target-date funds ?</h3>

Target-date funds are the funds which increases the assets for the specific time period. It is also known as exchange traded funds. Thus it is an life cycle fund wherein the allocation of the portfolio gradually becomes more cautious.

The Target Date fund will adjust by holding your stocks the same and slightly increasing your bonds. Therefore the correct option is (D).

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2 years ago
A financial intermediary is a corporation that takes funds from investors and then provides those funds to those who need capita
Alex17521 [72]

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True

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7 0
2 years ago
Quizlet, In a security review meeting, you are asked to calculate the single loss expectancy (SLE) of an enterprise building wor
sergiy2304 [10]

The formula that should be use to calculate the SLE will be SLE = 100,000,000 × 0.75

<h3>What is the Single-loss expectancy?</h3>

Single-loss expectancy is the monetary value expected from the occurrence of a risk on an asset. This is related to risk management and risk assessment where the exposure factor is represented in the impact of the risk over the asset, or percentage of asset lost.

The Single Loss Expectancy is used for Risk Management and it is the expected monetary loss when a risk occurs.

The  Single Loss Expectancy is related to Asset Value a exposure Factor. The formula used to compute the SLE is single Loss Expectancy (SLE) = Asset Value (AV) × Exposure Factor (EF)

In the given problem the asset value of the enterprise building is $100,000,000 & the exposure factor 75%.

So the formula used to calculate the Single Loss Expectancy (SLE) is

SLE = 100,000,000 × 0.75.

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Complete question:

a. 100,000,000 * 0.75/.01

b. 100,000,000/100 * 0.75

c. 100,000,000/0.75 * 100

d. 100,000,000 * 0.75

7 0
2 years ago
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