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rjkz [21]
3 years ago
12

Company uses the​ percent-of-sales method to estimate uncollectibles. Net credit sales for the current year amount to ​, and man

agement estimates ​% will be uncollectible. The amount of expense to report on the income statement was . The Allowance for Uncollectible Accounts prior to adjustment has a credit balance of . The balance of Allowance for Uncollectible​ Accounts, after​ adjustment, will be
Business
1 answer:
yanalaym [24]3 years ago
6 0

Complete Question:

Company uses the​ percent-of-sales method to estimate uncollectibles. Net credit sales for the current year amount to ​$500,000, and management estimates 2% will be uncollectible. The amount of expense to report on the income statement was $8,000. The Allowance for Uncollectible Accounts prior to adjustment has a credit balance of $2,000. The balance of Allowance for Uncollectible​ Accounts, after​ adjustment, will be

Answer:

The balance of Allowance for Uncollectible​ Accounts, after​ adjustment, will be

$10,000

Explanation:

a) Data and Calculations:

Net credit sales = $500,000

Uncollectible estimate = 2% of net credit sales

Uncollectible Accounts expense = $8,000

Allowance for Uncollectible Accounts = $2,000 before adjustment

Allowance for Uncollectible after adjustment = $500,000 * 2% = $10,000

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kotykmax [81]

Answer:

Recovery point objective (RPO)

Explanation:

RPO is described as the age of files that is necessary and compulsory to be recovered from backup storage for the normal operations of a company to resume in cases that a computer, system, or network goes down due to hardware, program, or communications failure.

It describes a period of time that an firm’s operations must be restored after a disruptive event, like a cyber attack, natural disaster or communications failure.

The RPO is often conveyed backward in time into the past from the event in which the failure occurs, and it can be specified within seconds, minutes, hours, or days. It an essential and crucial consideration in disaster recovery planning (DRP).

The RPO measures the time between the last data backup and the occurrence of a problem.

4 0
3 years ago
Rent of $1,000 per month is paid for the next twelve months on October 1st, 1988. As a result of this transaction:
frutty [35]

Answer:

the answer would be Neither

6 0
3 years ago
You are bullish on Telecom stock. The current market price is $48 per share, and you have $9,600 of your own to invest. You borr
Gekata [30.6K]

Answer: 7%

Explanation:

The following can be deduced.from the question:

Loan amount = $9,600

Equity = $9,600

Market price = $48 per share

Total investment = $19,200

Growth of Investment = 5%.

We then calculate value of the investment in a year. This.will be:

= 19,200 × 1.05

= $20,160

Interest on the loan would be:

= $9,600 * 0.03

= $288

Therefore, rate of return will be:

= (20,160 - 9,600 - 288)/9,600 - 1

= 0.07 = 7%

8 0
3 years ago
Bonds are basically also known as what?
Karo-lina-s [1.5K]

bonds are basically known as

b)contracts

8 0
3 years ago
Campbell a single taxpayer, has $400,000 of profits from her general store that she operates as a sole proprietorship. She has $
ella [17]

Answer:

A) $80,000

Explanation:

According to the Internal Revenue Service (IRS), the deduction would be claim as a lower value of 20% qualified business income plus 20% of real investment or 20% of taxable income less net capital gains

So, 20% qualified business income = $400,000 × 20% = $80,000

And, the 20% of taxable income = $500,000 × 20% = $100,000

So, the lower value would be $80,000

8 0
3 years ago
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