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Lynna [10]
3 years ago
6

Chen Company's account balances at December 31, 2017 for Accounts Receivable and the Allowance for Doubtful Accounts are $800,00

0 debit and $1,500 credit. Sales during 2017 were $2,750,000. It is estimated that 1% of sales will be uncollectible. The adjusting entry would include a credit to the allowance account for:___________.
A) $29,000.
B) $27,500.
C) $26,000.
D) $8,000.
Business
1 answer:
Hatshy [7]3 years ago
6 0

Answer:

B) $27,500.

Explanation:

The computation of the amount credited to the allowance account is shown below:

= Sales during the 2017 year × estimated  uncollectible percentage

= $2,750,000 × 1%

= $27,500

By multiplying the sales with the estimated  uncollectible percentage we can get the amount credited to the allowance account and the same is to be considered

Hence, the correct option is B

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Answer:

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Such products are purchased after careful evaluation of all the alternatives available to an individual and after comparison of prices and offers.

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4 0
3 years ago
Princess, who resides in the 2nd Circuit, recently found a circuit court case that is favorable to her income tax research quest
lapo4ka [179]

The correct answer is C) 2nd Circuit or the Federal Circuit. 

Princess, who resides in the 2nd Circuit, recently found a circuit court case that is favorable to her income tax research question. The circuits that she would prefer to have issued the opinion are the 2nd Circuit or the Federal Circuit. 

Princess has to go to the 2nd Circuit Court of Appeals that is located in Manhattan, New York, at the Thurgood Marshall US Courthouse. It exercises federal jurisdiction in six districts of the states of Vermont, New York, and Connecticut.  The 2nd Circuit Court of Appeals was established by Congress in 1891.

5 0
3 years ago
Suppose Compco Systems pays no dividends but spent $ 5.18 billion on share repurchases last year. If​ Compco's equity cost of ca
shusha [124]

Answer:

Market capitalization - $155.26

Stock price - $26.77

Explanation:

The computation of the market capitalization is shown below:

= last year dividend × (1 + growth rate) ÷  (cost of capital - growth rate)

= $5.18 billion × ( 1 + 7.9%) ÷ (11.5% - 7.9%)

= $5.58,922 billion ÷ 3.6%

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3 0
2 years ago
Keyser Corporation, which has only one product, has provided the following data concerning its most recent month of operations:
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Answer:

The net operating income for the month under variable costing is $500,000

Explanation:

Note : I have attached the full question as an image below

8 0
2 years ago
Production and sales estimates for March for the Robin Co. are as follows:Estimated inventory (units), March 1 18,000Desired inv
VladimirAG [237]

Answer:

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= 24000 + 21600 - 18000= 27600

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Explanation:

3 0
2 years ago
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