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
Alina [70]
4 years ago
10

At December 31, Hawke Company reports the following results for its calendar year. Cash sales $ 1,285,070 Credit sales $ 3,610,0

00 In addition, its unadjusted trial balance includes the following items. Accounts receivable $ 1,093,830 debit Allowance for doubtful accounts $ 15,160 debit Required: 1. Prepare the adjusting entry to record bad debts under each separate assumption. Bad debts are estimated to be 3% of credit sales. Bad debts are estimated to be 2% of total sales. An aging analysis estimates that 6% of year-end accounts receivable are uncollectible.
Business
1 answer:
Lady_Fox [76]4 years ago
7 0

Answer:

Explanation:                                              Dr                      Cr

1)

Allowance for doubtful account

3%*3610000                                                                    108300

Bad debt expense                                  108300

2)Allowance for doubtful account

2%*(1285070+3610000)                                                 146,852.10

Bad debt expense                                 146,852.10

3)Allowance for doubtful account

1093830*6%                                                                       65,629.80

Bad debt expense                                    65,629.80                

You might be interested in
Labor unions are organizations of employees formed to protect and advance their members' interests by bargaining with management
gavmur [86]

Answer:

I think that the correct answer is True

8 0
3 years ago
Analyze the following table. What factor is affecting salaries in this situation
igor_vitrenko [27]

simply demand and supply

To understand the answer it is important to understand the definition of supply and demand in the labor market in any economy. The supply and demand for labor are much like the supply and demand for any other service.  Consistent with the law of demand and supply (as price rises, quantity demanded falls and quantity supplied rises.

In the graph, we can see that the impact of population is also mediated by average salary and salary structure, the higher the number of teachers the lower the salary, because the supply is high, when supply is high, demand decreases, which then affects salary, now looking at athletes population, we can see that the salary is higher, simply because the supply of atheles is low.

8 0
3 years ago
The two key factors that cause labor productivity to increase over time are A. the quantity of capital per hour worked and the l
Sonja [21]

Answer:

The correct answer is option A.

Explanation:

Labor productivity refers to the hourly output of a country's economy.

It is also called workforce productivity. Labor productivity depends on human capital, physical capital and level of technology.

Labor productivity is measured by calculating the ratio of total output and total number of labor hours. It increases with improvement in technology, human capital and increase in physical capital.

3 0
3 years ago
What term refers to selling goods in a foreign market at a price that is far below the cost of production
irakobra [83]
Dumping because it means selling goods in a foreign market that is far below the price of production.
4 0
3 years ago
Marshall company discovers in 2014 that its ending inventory at december 31, 2013 was $5,000 understated. what effect will this
maxonik [38]
<span>Answer: Cost of goods sold = Beginning inventory + Purchases - Ending inventory 2013 Ending inventory 5000 understated, COGS is overstated and net income is understated by 5000 2014 Beginning inventory is understated, COGS is understated, and net income is overstated 5000 Combined the beginning inventory for 2013 and the ending inventory for 2014 are correct so no effect on net income.</span>
7 0
3 years ago
Other questions:
  • How does a local water budget differ from the water budget of the whole earth?
    15·1 answer
  • "Diminishing marginal​ returns" refer to a situation in which the ______.A. average product of the last worker hired is less tha
    12·1 answer
  • Westfall Watches has two product​ lines: Luxury watches and Sporty watches. Income statement data for the most recent year​ foll
    13·1 answer
  • Waterway industries, has 4700 shares of 5%, $50 par value, cumulative preferred stock and 100000 shares of $1 par value common s
    14·1 answer
  • A firm seeking a growth strategy designed to increase sales of existing products to current​ customers, nonusers, and users of c
    15·1 answer
  • From where do we get our own identity card?
    10·1 answer
  • Consider the market for orange juice. Suppose two events occurred last week. During the course of this past week, the price of o
    6·1 answer
  • Enumerate 5 ways to handle cash in accounting
    7·1 answer
  • In the United States, ________ laws prohibit collusion between rivals. a. competitive arbitration
    7·1 answer
  • Assume Gillette Corporation will pay an annual dividend of 0.61 one year from now. Analysts expect this dividend to grow at 11.5
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!