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Dafna1 [17]
3 years ago
11

The account allowance for uncollectible accounts is classified as a(n contra account to uncollectible accounts expense. expense.

liability. contra account to accounts receivable.
Business
2 answers:
kykrilka [37]3 years ago
8 0

<u>Answer:</u>

The account allowance for uncollectible accounts is classified as a contra account to accounts receivable.

<u>Explanation:</u>

  • It is a contra asset account. It is the allowance for bad debt reserve or doubtful actions.
  • Contra accounts are reported on the financial statement same as that of the associated account, appearing directly below the associated account with a 3^{rd} line for the net amount.
  • They are useful in preserving the historical value in main account while denoting a decrease in a separate contra account that sums to the current book value.
GrogVix [38]3 years ago
5 0
Contra account to accounts receivable
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Answer:

$3.12

Explanation:

For expansion:

EBT = EBIT - Interest

       = [6,000 + (30% × 6,000)] - $0

      = $7,800

Net income = EBT - Tax

                   = $7,800 - $0

                   = $7,800

Earning per share for the case of strong expansion period before any debt is issued:

= Net income ÷ Number of shares outstanding

= $7,800 ÷ 2,500

= $3.12

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3 years ago
An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2017 I
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Answer:

<u>cost of goods manufactured schedule</u>

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Direct Labor                                                               $51,740

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machinery repairs                                                       $1,990

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Explanation:

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One of the example would be Walmart which uses push strategy over pull.

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