Answer: Debit Bad debt expense $11,264, Credit Allowance for bad debt $11,264; Debit Allowance for bad debt $9,650, Credit Accounts receivable $9,650.
Explanation: Percentage of credit sales method means bad debt expense expressed as a percentage of sales.
The estimated bad debts rate is 2.2%, which translates to 2.2% of $512,000 (credit sales) = $11,264. The firm has to record this, being the estimated bad debts rate, as Debit to bad debt expense and Credit to allowance for bad debt. However, accounts receivable that was deemed uncollectible is $9,650. This amount would be taken out from the buffer in allowance account by debiting allowance for bad debt and crediting accounts receivable.
Answer:
$11,510
Explanation:
Calculation for the gross margin amount from the four transactions
First is to find the Cost of goods sold
Cost of goods sold = ($13,900 - $3,400) × (100%-2%)
Cost of goods sold=$10,500*0.98
Cost of goods sold=$10,290
Last step is to find the gross margin amount using this formula
Gross margin amount=Sales revenue - Cost of goods sold
Let plug in the formula
Gross margin amount=$21,800-$10,290
Gross margin amount=$11,510
Therefore the gross margin amount from the four transactions will be $11,510
Given the following parameters:
The employer pays the employee (gross earnings) – $1,200
The employer pays for social security and medicare taxes – $91.80
The employer pays for the Federal
Unemployment Tax Act (FUTA) – $9.60
The employer pays for the State
Unemployment Tax Act (SUTA) – $64.80
The total cost of this employee to the employer is the summation of all these costs
1,200 + 91.80 + 9.60 + 64.80 = $1366.20
Answer:
C. subject to review by higher levels of management in order to prevent the budgets from becoming too loose.
Explanation:
Self-imposed budgets typically are subject to review by higher levels of management in order to prevent the budgets from becoming too loose.
Self-imposed budget also known as the participative budget is a type of budget where individuals having responsibility for controlling costs, prepares their own budget estimates and present them to the top level of management for review.
<span>La cultura de los Estados Unidos Coalesced es principalmente occidental, pero está influenciada por las culturas africanas, nativas americanas, asiáticas, polinesias y latinoamericanas. También tiene sus propias características de convivencia y culturales, como el dialecto, la música, las artes, los hábitos de convivencia, la cocina y el folclore. Los Estados Unidos de América son países étnicamente y racialmente diversos como resultado de una migración astronómicamente inmensa desde muchos países a lo largo de su historia. Muchos elementos culturales estadounidenses, especialmente de la cultura popular, se han extendido por todo el mundo a través de los medios de comunicación modernos.</span>
