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Sergio [31]
3 years ago
13

When using the allowance method for accounting for bad debts, accounts receivable is reported on the balance sheet at the expect

ed net realizable value. When a particular receivable from a customer ultimately is determined to be uncollectible and is written off, the recording of this event will
Business
1 answer:
Minchanka [31]3 years ago
4 0

Answer:

Have no effect on net realizable value

Explanation:

Net realizable value is the value of accounts receivable less any allowance for bad debts. This amount is reported in the balance sheet. Under allowance method, if a particular receivable is uncollectible, then the amount is reduced from both accounts receivable and allowance for bad debts. As such, there is no effect on the net realizable value as both the accounts are reduced by the amount that is uncollectible.

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Answer:

Net income = $20,940

Explanation:

Answer 1.

   

Accounts                                                                                                                

Cash Receipts                             32,000  

Expenses    

Advertising                    500    

Depreciation                 3,200    

Car & Truck Expense       1,360    

Employee Compensation  5,000    

Education                    1,000                          11,060  

Net Income                                               20,940  

   

Therefore, the net income that Smith should report from his business after considering all the cash receipts and all the expenditures associated with his business is $20,940. All the expenses are to be deducted from income.

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3 years ago
You are evaluating your company’s segmentation approach and discover an important missing condition. They have measured their ta
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Answer:

Profitability

Explanation:

It is not enough that our target market is reachable, stable, cost-effective, and measurable. We also need to measure how profitable the market is. We know that our major aim of doing business is to make profit, therefore the profitability of the market must be measured as well.

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You are responsible for implementing activities for a group of six foreign students and eight American students who are they

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A chemical company claims that they are able to produce a certain product through a thermodynamically unfavored process. explain
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A firm uses machine hours to allocate overhead cost. During the period, budgeted variable overhead is Rs. 10000 and budgeted
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Answer:

C

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