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slamgirl [31]
3 years ago
12

An aging of a company's accounts receivable indicates that estimate of the uncollectible accounts totals $4,979. If Allowance fo

r Doubtful Accounts has a $1,325 credit balance, the adjustment to record the bad debt expense for the period will require a_________.
Business
1 answer:
nordsb [41]3 years ago
8 0

Answer:

The adjustment to record the bad debt expense for the period will require a debit $3,654

Explanation:

There are two way to estimate uncollectible accounts: the percentage of sales method and the accounts receivable aging method.  

The company uses the accounts receivable aging method to estimate the uncollectible accounts and estimated uncollectible of $4,979

Before adjustment, Allowance for Doubtful Accounts has a $1,325 credit balance.

Bad debt expense for the period = $4,979 - $1,325 = $3,654

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3 years ago
Which of the following topics would not appear in a company policy handbook?
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A. online job sites 
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Read 2 more answers
Souza Inc, which produces and sells a single product, has provided its contribution format income statement for October.
Dafna1 [17]

Answer:

d. $300

Explanation:

Calculation for what its net operating income should be closest to

Using this formula

First step is to calculate the contribution margin per unit using this formula

Contribution margin per unit= Contribution margin ÷ Number of units

Let plug in the formula

Contribution margin per unit= $48,000 ÷ 4,000 units

Contribution margin per unit= $12

Second step is to calculate the contribution margin

Contribution margin = 3,500 units × $12

Contribution margin = $42,000

Now let calculate the net operating income using this formula

Net operating income = Sales - Variable cost - Fixed expenses

Let plug in the formula

Net operating income= $42,000 - $41,700

Net operating income= $300

Therefore its net operating income should be closest to $300

8 0
2 years ago
Southern Markets has sales of $78,400, net income of $2,400, costs of goods sold of $43,100, and depreciation of $6,800. What is
Helen [10]

Answer:

36.35%

Explanation:

According to the scenario, computation of the given data are as follows,

Sales = $78,400

Net income = $2,400

Cost of goods sodl = $43,100

Depreciation = $6,800

So, we can calculate the EBIT value by using following formula:

= EBIT ÷ Sales

= ($78,400  - $43,100 - $6,800) ÷ ($78,400)

= $28,500 ÷ $78,400

= 36.35%

Hence, the common-size statement value of EBIT is 36.35%

3 0
2 years ago
An established process for assessing quality of care or services in which an organization demonstrates that it meets a set of mi
Hunter-Best [27]

Answer:

Quality assessment

Explanation:

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Quality standards are set for different criteria and the quality assurance officer follows certain steps to ascertain if minimum standard is being met.

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2 years ago
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