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3 years ago

Handel Company uses the allowance method for estimating uncollectible accounts.

Business

1 answer:

NikAS [45]3 years ago

8 0

Answer:

Entries are given below

Explanation:

January 5 - Sold Merchandise

DEBIT CREDIT

Receivable - Terry $2,000

Sales Revenue $2,000

April 15 - Received $600 from terry

DEBIT CREDIT

Cash $600

Receivable - Terry $600

August 21 wrote off uncollectable debt

DEBIT CREDIT

Allowance for debt (2000-400) $1,400

Receivable - Terry $1,400

October 5 Received a check

DEBIT CREDIT

Receivable - Terry $300

Allowance for doubtful debt $300

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Suppose the Board of Directors of The Staten Island Suppliers Co. announces on October 4th that the regular quarterly dividend o

kipiarov [429]

Answer:

a. October 4th

b. November 15th 2019

c. November 14th 2019.

d. December 13th, 2019 (Note: This is assumed based on the explanation below as it is not specifically stated in the question).

Explanation:

a. What date is the declaration date?

The declaration date is the date the announcement to pay the next dividend is made by the board of directors of a company. In this case, the declaration date is October 4th, 2019.

b. What date is the holder of record date?

The holder of record date refers to the cut-off date set by a company to ascertain the eligible shareholders that will receive the next dividend payment. In this case, the holder of record date is November 15th 2019.

c. What date is the ex-dividend date?

The ex-dividend date refers to date that a seller of stock is still eligible to receive dividend despite that the stock has already been sold to a by him. This is because it is the person that hold the security on the ex dividend date that will receive the dividend payment not the holder on the payment date. Generally, ex-dividend date is usually one business day before the record date. In this case,he ex-dividend date is November 14th 2019.

d. What date is the payment date?

The payment date refers to the actual day that eligible shareholders are paid the declared dividend by the company. It is usually a few weeks or month after the ex-dividend date. If we assumed to be a month, the payment date would be December 13th, 2019.

6 0

4 years ago

There are several different ways that Bond’s Gym can solve its problem.

AysviL [449]

The main problem at Bond's Gym is excess demand. This means that negative incentives are the best way to go. Positive incentives would only increase demand at the gym, making the problem worse. however, negative incentives would create a positive result for the owner, as he would make more money and expand his gym, allowing him to meet more consumer demands.

5 0

3 years ago

Read 2 more answers

A rancher owns a parcel of land on which oil is discovered. If the rancher has not previously conveyed the oil rights, who owns

Lina20 [59]

Answer:

the rancher.

Explanation:

According to my research on land ownership benefits, I can say that based on the information provided within the question the person that owns the oil would be the rancher. This is because the rancher is the owner of the parcel of land, which usually includes the mineral rights to that piece of land. If the land ownership does not include the mineral rights then whoever owns these rights also owns the oil.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

4 0

3 years ago

Develop an estimate for each of the following situations:_________. a. The cost of a 500-mile automobile trip, if gasoline is $3

kirill [66]

Answer:

A.$325

B.657000 hours

Explanation:

We can calculate the cost of a 500-mile automobile trip by adding the cost of gasoline burnt and the cost of wear and tear during the trip. Total number of hours of 75 years old can be calculated by multiplying the number of hours in a day with the total number of days in a year.

DATA

Gasoline per gallon = $3

Vehicle wear and tear = $0.50/mile

Miles per gallon = 20 miles

Hours in a day = 24hours

Days in a year = 365

Number of years = 75

Requirement A

Cost of a 500 mile automobile trip = Cost of gasoline + Cost of vehicle wear ]

Cost of a 500 mile automobile trip = $75 + $250 = $325

Working

Cost of gasoline = (500 miles / 20 miles) * $3 per gallon = $75 Cost of vehicle wear and tear = 500 miles * $0.50 per mile = $250

Requirement A

Total number of hours in 75 years of human life = Life in years x Number of days in a year x Number of hours in a day

Total number of hours in 75 years of human life = 75 years * 365 days * 24 hours = 657000 hours

8 0

4 years ago

The following is the adjusted year-end trial balance at December 31, 2018, of Wilson Trucking Company. Account Title Debit Credi

mariarad [96]

Answer:

Income Statment:

Trucking fees earned 130,000

Depreciation expense—Trucks (23,500)

Salaries expense (61,000)

Office supplies expense (8,000)

Repairs expense—Trucks (12,000)

Net Income 25,500

Retained Earnings

Beginning 155,000

Net Income 25,500

Dividends (20,000)

Ending 160,500

Balance Sheet:

Cash 8,000 Accounts payable 12,000

Accounts receivable 17,500 Interest payable 4,000

Office supplies 3,000 Total current liabilities 16,000

Total Current Assets: 28,500 Long-term 53,000

Trucks (net) 136,000 Total liabilities 69,000

Land 85,000 Common Stock 20,000

Total non-current 221,000 Retained Earnings 160,500

Total Equity 180,500

Total Assets 249,500 Liabilities + Equity 249,500

Explanation:

For the income statement we list the revenue and then, we subtract all the expenses account.

Retained Earnings will be beginning + income - dividends. This value will go into the balance sheet.

For the balance sheet, we display assets into both categories:

current: who are going to be converted into cash within a year.

and non-current like the truck and the land which are going to be in the company's book for more than a year before converting into cash.

Liabilities and equity will be in the other side and their sum should match the total assets.

6 0

3 years ago