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igomit [66]
2 years ago
11

Sanders Inc. is a small brick manufacturer that uses the direct write-off method to account for uncollectible accounts. At the e

nd of 2018, its balance for Accounts Receivable is $35,000. The company estimates that of this amount, $4,000 is not likely to be collected in 2019. In 2019, the actual amount of bad debts is $2,900. Record, if necessary, an adjustment for estimated uncollectible accounts at the end of 2018 and the actual bad debts in 2019.
Business
1 answer:
Eva8 [605]2 years ago
5 0

Answer:

no entry at the 2018 year-end. The Company uses direct method

bad debt expense              2,900 debit

        accounts receivable                      2,900 credit

--to record bad debt expense for 2019--

Explanation:

direct write-off method: we only do the adjustment of bad debt once it is determinated as uncollectible.

We do no entry at the end of 2018

on 2019 we recocgnize the bad debt expense and decrease account receivable.

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Fatuma invests a total of $22,000 in two accounts. The first account earned a rate of return of 15% (after a year). However, the
Lesechka [4]

Answer:

$7,500 was invested in the account that gained 15%, while $14,500 was invested in the account that lost 7%.

Explanation:

Given that Fatuma invests a total of $ 22,000 in two accounts, and the first account earned a rate of return of 15% after a year while the second account suffered a 7% loss in the same time period, and at the end of one year the total amount of money gained was $ 110.00, to determine how much was invested into each account, the following calculation must be performed:

11,000 x 0.15 - 11,000 x 0.07 = 880

5,000 x 0.15 - 17,000 x 0.07 = -440

8,000 x 0.15 - 14,000 x 0.07 = 220

7,000 x 0.15 - 15,000 x 0.07 = 0

7,500 x 0.15 - 14,500 x 0.07 = 110

Therefore, $ 7,500 was invested in the account that gained 15%, while $ 14,500 was invested in the account that lost 7%.

8 0
3 years ago
Which statement best reflects the importance of following safety guidelines?
Zolol [24]

Answer:

B

OSHA responds to complaints of unsafe work environments, and can fine or take negligent employers to court.

Explanation:

4 0
3 years ago
Read 2 more answers
The ABC Corporation has purchased 50 pieces of a specially designed electronic component at $2,000 per unit. In the $2,000 selli
snow_lady [41]

Answer:

cumulative learning factor for 85% and 400 units = 127.6

cumulative learning factor for 90% and 400 units = 189.3

total labor costs for producing the next 350 units = labor cost for producing 400 units - labor cost for producing 50 units

85% learning curve:

total labor costs for producing 400 units = $1,000 x 127.6 = $127,600

total labor costs for producing 50 units = $1,000 x 50 = $50,000

total labor costs for producing the next 350 units = $127,600 - $50,000 = $77,600

labor cost per unit = $77,600 / 350 = $221.71

90% learning curve:

total labor costs for producing 400 units = $1,000 x 189.3 = $189,300

total labor costs for producing 50 units = $1,000 x 50 = $50,000

total labor costs for producing the next 350 units = $189,300 - $50,000 = $139,300

labor cost per unit = $139,300 / 350 = $398

6 0
2 years ago
Which business type is notably the easiest to acquire ?
777dan777 [17]

Answer:

C. sole proprietorship

5 0
3 years ago
JG Asset Services is recommending that you invest $1,000 in a 5-year certificate of deposit (CD) that pays 3.5% interest, compou
katrin2010 [14]

Answer:

Earnings at the maturity:  (C) $1,187.69

Explanation:

Future value at the end of the period = Present Value x (1 + Interest Rate) ∧ Number of compounding periods

Future Value at the end of the period = $1,000 x (1 + 3.5% interest rate) ∧ 5 years = $1,187.69

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