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boyakko [2]
3 years ago
13

At December 31, Amy Jo's Appliances had account balances in Accounts Receivable of $314,000 and in Allowance for Uncollectible A

ccounts of $810 (credit) before any adjustments. An analysis of Amy Jo's December 31 accounts receivable suggests that the allowance for uncollectible accounts should be 4% of accounts receivable. Bad debt expense for the year should be:
Business
1 answer:
Alex787 [66]3 years ago
8 0

Answer:

$11,750

Explanation:

The computation of bad debt is shown below:-

Bad debt expense = Estimated allowance for uncollectible at the year end - Existing balance in allowance for uncollectible account credit balance

= ($314,000 × 4%) - $810

= $12,560 - $810

= $11,750

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

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Which of the following accounts is not closed? Question 3 options: A. Depreciation expense B. Dividends C. Service revenue D. Ac
larisa [96]

Answer:

The answer is D. Accumulated depreciation

Explanation:

Accumulated depreciation is the sum total of the depreciation recorded for certain assets.

6 0
3 years ago
You often find that employees choose a health care plan without carefully considering their options. In fact, sometimes employee
kupik [55]

Answer: This presentation helps you choose which of the five health insurance options works best for your family.

Explanation:

From the question, we are informed that employees usually choose a health care plan without carefully considering their options and they end up blaming someone else for not informing them sufficiently of their options ahead of time.

Due to this reason, the person want the employees to attend a fair and take the time to carefully weigh their options. Of the options given, the correct answer is that "this presentation helps you choose which of the five health insurance options works best for your family".

Emphasis is been placed on choice as the employees can choose what works best for them. A simple language is also used to pass the message across.

8 0
3 years ago
What does total number of allowances you are claiming mean.
Svetach [21]

Answer:

mean the amount you are getting

Explanation:

Hope this help

3 0
2 years ago
You are bearish on Telecom and decide to sell short 100 shares at the current market price of $50 per share.
Elden [556K]

Answer:

A. $2,500

B. $60

Explanation:

A. Calculation to determine How much in cash or securities must you put into your brokerage account if the broker's initial margin requirement is 50% of the value of the short position

Initial Margin = 100*$50*50%

Initial Margin = $2,500

Therefore The amount of securities that you must put into your brokerage account if the broker's initial margin requirement is 50% of the value of the short position is $2,500

b. Calculation to determine How high can the price of the stock go before you get a margin call if the maintenance margin is 30% of the value of the short position

First step is to calculate the Maintenance Margin per share

Maintenance Margin per share = $50*30%

Maintenance Margin per share =$15

Second step is to calculate the Rise in price required

Rise in price required = $50*50% - $15

Rise in price required= $10

Now let calculate How high can the price of the stock go

Price of stock=$50+$10

Price of stock= $60

Therefore How high can the price of the stock go before you get a margin call if the maintenance margin is 30% of the value of the short position is $60

8 0
3 years ago
Under Armour wants to assess its brand equity more effectively and asks its marketing team to convince upper management why it i
oee [108]

Answer:

The correct answer is letter "A": Brand equity is strategically important and correlates directly to Under Armour's profitability.

Explanation:

Brand equity refers to the perception consumers have about a firm that affects its value. Brand equity could be positive or negative. It is an important element for companies aiming to settle in the market through marketing strategies that generate more profits by attracting more customers. Brand equity can be measured by <em>price, customer satisfaction, popularity, brand awareness </em>or <em>market share.</em>

<em />

<em>Thus, the marketing team of Under Armour could state that conducting a brand equity measurement is crucial because it is related to the firm's ability to generate profit.</em>

3 0
3 years ago
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