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sveta [45]
3 years ago
13

Pogo Products Inc. reported an opening balance in the allowance for doubtful accounts of $564,000. During the year, the company

determined that a $30,000 receivable due from Shimmer Company was uncollectible. Prepare the journal entry to write off the Shimmer account assuming that Pogo uses the allowance method.
Business
1 answer:
Vesna [10]3 years ago
5 0

Answer: Debit Allowance for doubtful accounts $30,000; Credit Accounts receivable (Shimmer Coy) $30,000.

Explanation: The entries in the answer section above assumes that Pogo Products Inc. already made a provision for this uncollectible amount and it was warehoused in the opening balance - part of the $564,00 given in the question.

Determining a certain amount of the receivable as uncollectible signifies a write-off - meaning the portion of the receivable that is deemed uncollectible.

The entries, therefore, seek to extinguish the existing receivables relating to Shimmer Company against the allowance for doubtful accounts.

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Answer:

A.Capital costs

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3 years ago
The cost of implementing and maintaining an activity-based costing system ______ the benefits received. Multiple choice question
aalyn [17]

The implementation and maintenance of an activity-based costing system may outweigh costs greater than the benefits obtained (option B)

<h3>What is the Activity Based Costing System?</h3>

The ABC (Activity Based Costing) is a model that allows the allocation and distribution of the different indirect costs, according to the activities carried out, since these are the ones that actually generate costs.

This system arises from the need to solve the problem that standard costs normally present, when they do not faithfully reflect the added value chain in the production of a specific product or service, and therefore, it is not possible to adequately determine the price.

According to the above definition, it can be inferred that this costing system is not the most efficient because it can result in implementation and maintenance may outweigh costs over profits or benefits.

Note: This question is incomplete because the options are missing. Here are the options:

  • will always be higher than
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Learn more about Activity Based Costing System in: brainly.com/question/24929506

8 0
3 years ago
ما هي انشطة سلسلة التوريد​
Ann [662]

Answer:

Explanation:

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5 0
3 years ago
Naomi and Matt received the following amounts from a tenant who is renting their condominium during the current year (rent is $1
Ronch [10]

Answer:

$3000

Explanation:

If a tenant pays an expense usually paid by the taxpayer in place of rent, that expense is considered as part of rental income to the taxpayer.

The income to be included will be: $ 2200 paid as deposit, Plus $ 800 paid for plumbing repairs.

= $2200+$800

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6 0
3 years ago
The​ "Repo Man" recently repossessed your car for failure to make payments. You still owed​ $5,000 on the​ loan, but since it wa
I am Lyosha [343]

Answer:

$2,500

Explanation:

Loan amount = $5,000

The car was auctioned for $3,000 and the parties involved in the auction transaction has to be paid before net income can be recognized.

Auction amount = $3,000

Less; Repo Man's Fee = ($200)

         Attorney's Fee   =  ($300)

Net amount =  $2,500

Loan amount      =   $5,000

Less net amount =  ($2,500)

Loan Balance     =    $2,500

6 0
3 years ago
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