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ella [17]
4 years ago
14

Coronado Industries has outstanding accounts receivable totaling $6.57 million as of December 31 and sales on credit during the

year of $22.6 million. There is also a credit balance of $11000 in the allowance for doubtful accounts. If the company estimates that 5% of its outstanding receivables will be uncollectible, what will be the amount of bad debt expense recognized for the year?
Business
1 answer:
BigorU [14]4 years ago
8 0

Answer:

$317,500

Explanation:

The computation of the amount of bad debt expense is shown below:-

Bad debt expenses = (Accounts receivable × Outstanding receivable percentage) - Opening Allowance for doubtful debts

= ($6.57 million × 5%) - $11,000

= $317,500

Therefore for computing the bad debt expense we simply applied the above formula.

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Which term can be defined as the net income that a firm reinvests in itself?
KengaRu [80]

Answer:

retention ratio

Explanation:

Retention ration is the portion of net income retained by a firm to grow its business rather than being declared and paid as dividened.

When a company makes profit at the end of financial period, the company can either retain part of its earning for business expansion, declare part as dividends paid to shareholder or combine both.

Where a firm now reinvest the portion of the profit earned in itself, it is called retention ratio.

6 0
3 years ago
Can someone please help me on this
olya-2409 [2.1K]

Answer:

The question that corresponds to this is

Explanation:

Brent called insurance companies and got insurance quotes for the three trucks. Both the 1996 Ford F150 and the 1998 Chevy 1500 were quoted for $250 and the 2000 Toyota Tundra was quoted for $245. To help Brent make his decision gather some more reliable information by using newspapers, or looking at their Web sites, and reviewing consumer magazines and Web sites. Also, look at the manufacturer Web site or www.fueleconomy.gov for information about gas mileage. List the sources you use and include the notes you take from each source.

8 0
3 years ago
________________indicates that fair value changes subsequent to purchase are not recorded in the accounts. (Do not use revenue r
pav-90 [236]

Answer:

C. Measurement (historical cost principle)

Explanation:

Measurement indicates that fair value changes subsequent to purchase are not recorded in the accounts

3 0
3 years ago
Why should Microsoft Word be used to create the lost cat flyer? (Select all that apply) MS Word is the only application that cou
SVETLANKA909090 [29]

Answer:

I don't know the answer u rlooking for

3 0
3 years ago
Select which of the ways that entrepreneurs improve the economy is being described:
8_murik_8 [283]

Answer: (B) Demand for products

Explanation:

 The demand for the products is basically refers to the process in which the amount of the specific products are get purchased for the particular price so that the one business organization increase their productivity and the other business meets its specific requirement.

There are basically five factors which determine the demand of products function in an organization are as follows:

  • Income of the buyer
  • Price
  • Customer choice
  • The actual price of the related other products
  • Future supply expectations

Therefore, Option (B) is correct.

4 0
3 years ago
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