1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
gtnhenbr [62]
3 years ago
11

SMC had a 1/1/14 balance in the Allowance for Doubtful Accounts of $20,000. During 2014, it wrote off $14,400 of accounts and co

llected $4,200 on accounts previously written off. The balance in Accounts Receivable was $400,000 at 1/1 and $480,000 at 12/31. At 12/31/14, SMC estimates that 5% of accounts receivable will prove to be uncollectible. What is Bad Debt Expense for 2014?a. $4,000.b. $14,200.c. $18,400.d. $24,000.
Business
1 answer:
zhenek [66]3 years ago
8 0

Answer:

b. $14,200

Explanation:

The computation of the bad debt expense is shown below:

= Balance in the Allowance for Doubtful Accounts - wrote off accounts + written off - estimated amount

= $20,000 - $14,400 + $4,200 - $24,000

= $14,200

The computation of the estimated amount is calculated below:

=  Ending balance of accounts receivable ×  uncollectible percentage

= $480,000 × 5%

= $24,000

You might be interested in
Flexible exchange rate systems are calculated according to
Stella [2.4K]
Flexible exchange rate systems are calculated according to supply and demand. Every currency decides the type of exchange rate arrangement to uphold.
6 0
3 years ago
Read 2 more answers
Jones Company has the following data to make 10,000 seats for its bicycles: Variable Product Costs 80,000 Fixed Product Costs 10
klasskru [66]

Answer:

The company should make the bicycle seats.

Explanation:

Given:

Number of seats to be made = 10,000

Variable cost = 80,000

Fixed cost = 10,000

Outside source cost for seats = $ 8.50 per seat

Since, the fixed cost of the seats cannot be eliminated. Therefore, the deciding factor will only be the variable cost.

Thus,

contribution margin per unit seat if made by own

= ( Variable cost / Number of seats )

Or

= 80,000 / 10,000

or

= $ 8

now,

the making the seats by own is $ 0.5 cheaper.

Hence, the company should make the bicycle seats.

4 0
3 years ago
What can you suggest to warner Edwards in terms of marketing strategy
inessss [21]

Answer:

Warner Bros focuses a lot on the people as an organization whether it’s the employees or the customers. The key people involved are Kevin Tsujihara (Chairman and CEO), Edward A. Romano (Vice Chairman), Toby Emmerich (President and Chief Content Officer). Its parent company TIME Warner has over 31000 employees. The Warner Bros company and its people focus on diversity that helps in multicultural expansion, workforce development and inclusive growth. It does not differentiate between its customers and focus on providing quality content to all across the globe.

I would suggest that only advertisement doesn't make people to buy it.

7 0
3 years ago
You are contemplating adding direct selling activities to your existing bricks-and-mortar retail business to increase sales. You
Ksivusya [100]

Answer:

It may be more expensive and time-consuming than using an intermediary

Explanation:

Direct selling makes it hard to reach new customers and also entails spending an extensive time in trying to convince prospective customers before sales is made. Sadly, in some situations, some prospects do not buy in on the intended product and thus, no sale is made and time wasted.

8 0
3 years ago
Read 2 more answers
A company implements the following policy regarding inventory in transit: Goods purchased are included in inventory records, whi
a_sh-v [17]

Answer:

c. The party who has title to the inventory while in transit.

Explanation:

If you sell or buy FOB shipping point, then you could use this type of accounting method. The title of the goods is transferred immediately (as soon as the goods leave the seller's premises). But if the transactions are FOB destination, the title of the goods is transferred only after the goods have been delivered.

8 0
3 years ago
Other questions:
  • Which of the following statements about renting & owning is CORRECT?
    13·2 answers
  • For teachers involved in gifted education programs one of the key tasks to accomplish is
    13·1 answer
  • What is the purpose of using two different techniques to determine the densities of these two metals?
    12·1 answer
  • All oligopoly models share several assumptions. Which of the following is among them?
    5·1 answer
  • What industries are presented in your community. How would you define the economic health of your community based on the industr
    8·1 answer
  • eall Corporation has a standard cost system in which it applies manufacturing overhead to products on the basis of standard mach
    15·1 answer
  • In conducting interviews and observing factory operations to implement an activity-based costing system, you determine that seve
    15·1 answer
  • Risk acceptance is a natural part of driving. Risks are always present, and the compensation involves: Recognizing _____________
    6·1 answer
  • March 15 current year: Erin created a new inventory item named Birdbath April 20 current year: Erin bought 80 bags of mulch for
    10·1 answer
  • Firms often consolidate industries through horizontal mergers and acquisitions to?
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!