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Vadim26 [7]
3 years ago
8

Using the percentage-of-receivables method for recording bad debt expense, estimated uncollectible accounts are $45,000. If the

balance of the Allowance for Doubtful Accounts is a $6,000 debit before adjustment, what is the balance after adjustment?
Business
1 answer:
viva [34]3 years ago
4 0

Answer:

balanced after adjustment  $39,000

Explanation:

GIVEN DATA:

uncollectible accounts is $45,000

allowance balance = $6000

The bad debt account is the difference between the calculated ledger balance and actual ledger balanced.

balanced after adjustment can be determined by suing following relation:

Bad debt expense = uncollectible accounts - balance of the Allowance

= $45000 - $6000

= $39,000

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The following information pertains to Ash Co., which prepares its statement of cash flows using the indirect method: Interest pa
Alborosie

Answer:

$30,000

Explanation:

A supplemental disclosure of cash flow information requires that all the cash paid  in interest during the period must be disclosed.

In Ash's case:

beginning balance interest payable account    $15,000

+ interest expense during the year                    $20,000

<u>- ending balance interest payable account       ($5,000)  </u>

supplemental disclosure =                                  $30,000      

6 0
3 years ago
On September 1, 2021, Hiker Shoes issued a $112,000, 8-month, noninterest-bearing note. The loan was made by Second Commercial B
Dahasolnce [82]

Answer: 11.88%

Explanation:

Hiker's effective interest rate on this loan will be calculated as:

Interest = Amount × Discount rate × 8/12

= 112000 × 11% × 8/12

= 112000 × 0.11 × 0.667

= 8217.44

= 8217 approximately

Effective interest rate will then be:

= (Interest / Amount - Interest) × 12/8

= 8217 /(112000 - 8217) × 3/2

= 8217/103783 × 1.5

= 0.0791748 × 1.5

= 0.1187622

= 11.88%

6 0
3 years ago
A barrel of oil as measured on the oil market is equal to 1.333 u.s. barrels. a u.s. barrel is equal to 31.5 gal. if oil is on t
RoseWind [281]
You need conversion in this problem to solve it. Since you are already given of all the data, you just need to utilize the data to come up with the answer.  You simply have to divide the equivalent units of a barrel with the U.S. barrels and further divide it with the equivalent gallons of U.S. barrel. You can get $2.24 ($94 / 31.5 / 1.33).<span> </span>
7 0
3 years ago
Joshua needed money for some unexpected expenses, so he borrowed $5,355.26 from a friend and agreed to repay the loan in seven e
konstantin123 [22]

Answer:

10%

25.14 years

Explanation:

A financial calculator can be used to solve these problems

PMT = $-1,100

PV = $5,355.26

FV = 0

N = 7

Compute I = 10%

PMT = $-25,000

FV =  $1,387,311

I = 6%

PV = 0

Compute N = 25.14 years

8 0
4 years ago
Think of a situation that you witnessed regarding communication in an organizational change situation. Identify the elements of
Xelga [282]

The correct answer to this open question is the following.

Unfortunately, you did not attach the texts you read or some excerpts to know what they talk about.

However, trying to help you, we can comment on the following.

The situation that I witnessed regarding communication in an organizational change situation was in the company where my father worked.

This company tried to promote a more inclusive workplace, hiring people from different backgrounds of life, ethnicities, races, and nationalities. The  Communications Department made a good effort to be inclusive to inform the employees, inviting them to express themselves openly because the managers also wanted people to be confident to make their voices heard.

They used proper and formal language. They wanted people to be welcome to express their concerns.

As I mentioned before, this was a Communication program to let employees know that the company was changing for good. More diversity and more openness, as well as inclusion.  

As far as I'm concerned, the program was successful in that employees really felt that managers were honest in the effort.

3 0
3 years ago
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