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Vikentia [17]
3 years ago
10

The Allowance for Bad Debts account has a credit balance of $ 3 comma 000$3,000 before the adjusting entry for bad debts expense

. The​ company's management estimates that 44​% of net credit sales will be uncollectible for the year 2019. Net credit sales for the year amounted to $ 290 comma 000$290,000. What is the amount of Bad Debts Expense reported on the income statement for​ 2019?
Business
1 answer:
Triss [41]3 years ago
8 0

Answer:

The bad debt expense which should be recorded in the income statement for the year 2019, amounts to $127,600

Explanation:

The bad debt expense which should be recorded in the income statement for the year 2019 is computed as:

= Net Credit Sales × Uncollectible credit sales for the year 2019

where

Net Credit Sales is $290,000

Uncollectible credit sales for the year 2019 is 44%

Putting the values in the above formula:

= $290,000 × 44%

= $127,600

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Igoryamba

Answer:

Product or service profiling.

Explanation:

Product or service profiling is the term used to describe the linking of key product or service requirements to process capabilities.

Generally, most organizations and business owners use the product or service profiling strategy to enhance consistency through the identification of their key services or product line and as such are avail the opportunity to select the appropriate process, procedures and techniques to achieve their goals and objectives successfully.

3 0
2 years ago
At what point does corporation make money from stocks
labwork [276]

Answer:

a corporation make money from stocks  at the IPO. Initial Public Offering.

Explanation:

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3 years ago
If more people try to buy a product because they have just become aware of its outstanding quality, what has increased?
andre [41]
The demand of the product has increased
5 0
3 years ago
Read 2 more answers
15 friends want to order pizza for dinner. they predict that each person will eat 1/3 of a pizza. how many pizzas should they or
nirvana33 [79]
I would solve it like this:
15 / 3 = 5
5 Pizzas would be needed for each person to eat 1/3 of a pizza.

Hope this helps!
6 0
3 years ago
Does the fact that an Investment Adviser is registered in a state mean that the Investment Adviser is qualified?
dimulka [17.4K]

Answer:

No, registration does not mean that the Investment Adviser is qualified to provide investment advice to clients.

Explanation:

Investment adviser are licensed professionals who are saddled with the responsibility of providing financial guidance or expert advice around investments, tax planning etc for customers in a financial institution.

A representative of a Federal Covered adviser is only required to register with the state in which he or she is operating.

However, for the investment adviser, they're expected or required by law to register with the Securities and Exchange Commission (SEC) since they're having no office in the state.

Hence, No, registration does not mean that the Investment Adviser is qualified to provide investment advice to clients according to the Uniform Securities Act.

The Uniform Securities Act ( USA ) is a model statute or legal framework designed to guide each state of the United States of America in drafting and balancing both state and federal regulatory securities law. It is used in the United States of America to prosecute all fraud relating to buying and selling of securities.

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2 years ago
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