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
Sophie [7]
2 years ago
9

The Allowance for Bad Debts account has a credit balance of $2,000 before the adjusting entry for bad debts expense. The company

's management estimates that 4% of net credit sales will be uncollectible for the year 2019. Net credit sales for the year amounted to $250,000. What is the amount of Bad Debts Expense reported on the income statement for 2019?
Business
1 answer:
harina [27]2 years ago
6 0

Answer:

$10,000

Explanation:

Net Credit Sales              $250,000

Allowance for Doubtful Accounts $250,000*4%=$10,000

Bad Debt Expense   will be $10,000

Bad Debt Expense Dr.$10,000

Allowance for Uncollectible  Cr.$10,000

You might be interested in
All of the following would be listed as surplus items on the U.S. balance of payments international accounts except
allochka39001 [22]

Answer:

The correct answer is B: U.S.​ tourists' expenditures in foreign countries.

Explanation:

To be listed as a surplus in the U.S. balance of payments, it needs to be an entry of money to the economy. The option B is the only one that does not meet the requirements. U.S.​ tourists' expenditures in foreign countries mean an exist of money to other countries.

7 0
3 years ago
The best business portfolio is the one that ________.
KengaRu [80]

Answer:

The correct answer to the following question is option B, which is best fits the company's strengths and weaknesses to opportunities in the environment.

Explanation:

The contributing and the collecting of services and the products which are provided by the company. Many of the businesses and the companies will busy in business portfolio analysis as their section of their strategic planning.

Business portfolio is important because it demonstrates your skills and it increases your building trust which means when he or she sees your quality work and it can develop the trust about your business and also it helps in minimizing keep rejection of our services and the product.

6 0
3 years ago
"Price gouging" is when a seller responds to high demand by charging as much as they possibly can, even if that price exceeds wh
Kamila [148]

Answer:

Price gouging is charging unnecessarily high prices for goods if they are in high demand in market. From a sellers perspective its profitable because he/she is able to get more profits on a good and because the goods have a high demand the goods will eventually be sold even on a high price.

From a consumers perspective if the good is a basic need and the consumer is paying high price for it, this can be frustrating but the consumer will have to buy it. If the commodity is not a basic need then the consumer can just stop buying that good and can substitute any other good.

Explanation:

Price gouging is charging unnecessarily high prices for goods if they are in high demand in market. From a sellers perspective its profitable because he/she is able to get more profits on a good and because the goods have a high demand the goods will eventually be sold even on a high price.

From a consumers perspective if the good is a basic need and the consumer is paying high price for it, this can be frustrating but the consumer will have to buy it. If the commodity is not a basic need then the consumer can just stop buying that good and can substitute any other good.

6 0
2 years ago
James borrows $300,000 for a home from Bank A. Bank A resells the right to collect on that loan to Bank B. Bank B securitizes th
sattari [20]

Answer:

D) AIG

Explanation:

We went back in time to 2008 and we are in the middle of the subprime mortgage crisis. This is an example of how mortgage backed securities and collateralized debt obligations worked.

The problem with this scenario is that in order for every company involved to be able to make a profit, the mortgages' interest rates skyrocketed which made it harder for families to pay back their loans. This eventually made the families lose their houses and that was the end to the housing bubble and the whole economy collapsed.

6 0
3 years ago
The Chief Financial Officer of Five Star Food Distributors has asked you to evaluate the building of a new warehouse. As an astu
salantis [7]

The answer is<u> "net present value".</u>


Net Present Value (NPV) is the estimation of all future cash flows (positive and negative) over the whole existence of a venture limited to the present. Net Present Value examination is a type of natural valuation and is utilized widely crosswise over back and representing deciding the estimation of a business, speculation security, capital task, new pursuit, cost decrease program, and anything that includes income.

8 0
3 years ago
Other questions:
  • How might differences in the extent to which countries apply the accounting concept of conservatism (some countries are more con
    8·1 answer
  • In february, when paula, the manager of a landscaping company, is modifying worker schedules to handle the expected increase in
    9·1 answer
  • A company’s past experience indicates that 60% of its credit sales are collected in the month of sale, 30% in the next month, an
    15·1 answer
  • Dietterich Electronics wants its shareholders to earn a return of 15​% on their investment in the company. At what price would t
    7·1 answer
  • Yvette, a manager, decides to offer her support to Jonny, one of her subordinates, on a new project in exchange for a share of t
    7·1 answer
  • Joe needs display racks and cabinets to open his clothing store, but he doesn't have the money to pay for them right away. A sup
    15·1 answer
  • Lauren often travels to other grocery stores in the marketplace to observe how much they charge for the same products she stocks
    10·1 answer
  • the principal represents an amount of money deposited in a savings account subject to company interest...find how much money wil
    13·1 answer
  • ________ is the process of studying large amounts of data of a variety of types to uncover hidden patterns, unknown correlations
    8·1 answer
  • WILL GIVE BRAINLIEST!! NEED ASAP
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!