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
belka [17]
3 years ago
9

At December 31, Amy Jo's Appliances had account balances in Accounts Receivable of $302,000 and in Allowance for Uncollectible A

ccounts of $640 (credit) before any adjustments. An analysis of Amy Jo's December 31 accounts receivable suggests that the allowance for uncollectible accounts should be 5% of accounts receivable. Bad debt expense for the year should be:
Business
1 answer:
Lunna [17]3 years ago
8 0

Answer:

$870

Explanation:

When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.  

To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.

Allowance for uncollectible accounts at 5%

= 5% * $302,000

= $1,510

Since the Allowance for Uncollectible Accounts was $640 (credit) before any adjustments, the bad debt expense for the year

= $1,510 - $640

= $870

You might be interested in
bobby and josephine are married and they work together. they have decided to maintain separation at work, though they are extrem
vodomira [7]

Segmentation is the management strategy they are employing.

Dialectical Theory

All relationships—friendships, sexual connections, and family relationships—are entangled in a variety of contradictions, according to social dialectical theorists.  Like any family, the many dialectical methods share some aspects in common yet differ in others. This item highlights the common characteristics.

. A contradiction is the dynamic interplay between united opposites. Grasp this definition requires an understanding of three concepts: opposites, unified, and dynamic interplay.

Mutual negation is essential to the idea of opposition: According to semantics, opposites are synonyms of one another and serve to negate, undo, cancel, or otherwise undermine one another.

to know more about Dialectical Theory

brainly.com/question/13511327

#SPJ4

5 0
2 years ago
Which of the following is not an independent contractor relationship? a. one between a corporation and its outside legal counsel
oksano4ka [1.4K]

Answer:

The correct option C

Explanation:

Independent contractor are those people or individuals like lawyers, auctioneers, dentists, sun- contractors, accountants, public and contractors who are in the trade, profession or business independently and offer their services to the general public.

The relationship among the corporation and legal counsel and the relationship among the corporation and general counsel is the valid relationship.

So, the relationship which is not independent contractor is between or among the lawn service business and the homeowner.

5 0
3 years ago
A customers calls her broker to discuss her account. The broker recommends that the customer buy 500 shares of DEF stock. The cu
KIM [24]

Answer:

A. <u>Market Order</u>

Explanation:

In a market order, the securities are bought and sold immediately at the current market price prevailing at that time of the day.

Under this, order size is entered such as quantity of stock, the action to be taken i.e buy or sell and no buying/selling rate is mentioned, rather "market" option is checked.

Such market price keeps fluctuating every every moment so the order would be completed at that price which prevailed at that exact moment.

In the given case, the broker upon instructions of the client immediately got the order executed of 500 shares in less than a minute. This is the case of market order wherein the order was executed at current market price.

3 0
4 years ago
The managerial function of ______ involves monitoring performance, comparing it to goals, and taking corrective action when need
sleet_krkn [62]

Answer:

Controlling

Explanation:

Out of the many functions of management, controlling is an important managerial function. Controlling can be referred to as a managerial function that enables the achievement of results as it relates to set goals. This function involves the measurement of progress for the purpose of achieving organizational goals. It helps to ensure that subordinates and managers inclusive are doing what is necessary, identify errors and take corrective measures to meet up to the standard.

3 0
3 years ago
Shangrilah Sandals is a manufacturing firm in a developing country, where it routinely uses grease payments to local officials t
julia-pushkina [17]

Answer:

b. cultural relativism

Explanation:

Cultural relativism refers to the ideology that what applies to current situation do not necessarily apply to another situation also.

As in the given instance the Shangrilah Sandals make grease payments in their own country as it is a developing country, but do not practice the same in another country called US as it is a developed country.

As the income of people in that country is high they do not believe in taking or accepting grease payments.

Thus, the correct option is:

b. cultural relativism

4 0
3 years ago
Other questions:
  • The town of Genter recently witnessed a devastating hurricane that crippled the town's infrastructure. Q-Mart, a retail chain th
    11·1 answer
  • In order to understand a customer's wants, a marketer must understand __________?
    14·1 answer
  • Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an ela
    13·1 answer
  • When Heidi Ganahl first started out with Camp Bow Wow, she spent a lot of time "micromanaging" things, but as time went by, she
    7·1 answer
  • Vertical integration is a strategy in which a company expands backwards into an industry that provides outputs for its products.
    11·1 answer
  • ASC Topic 235, Notes to Financial Statements
    7·1 answer
  • What is fiscal policy​
    13·1 answer
  • Jarrod's Meat Shop doubles as a butcher shop and a sandwich shop that sells to both individuals and a nearby hospital system. On
    14·1 answer
  • Your uncle repays a $300 loan from Tenth National Bank (TNB) by writing a $300 check from his TNB checking account. Assume these
    10·1 answer
  • The general rule for using the weighted average cost of capital (WACC) in capital budgeting decisions is to accept all projects
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!