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slamgirl [31]
3 years ago
9

Swifty Corporation's allowance for uncollectible accounts was $187500 at the end of 2017 and $180500 at the end of 2016. For the

year ended December 31, 2017, Swifty reported bad debt expense of $32800 in its income statement. What amount did Swifty debit to the appropriate account in 2017 to write off actual bad debts?
Business
1 answer:
Nostrana [21]3 years ago
5 0

Answer:

The amount Swifty debited to the appropriate account in 2017 to write off actual bad debts: $25,800

Explanation:

Allowance for uncollectible accounts at the end of 2017 = Allowance for uncollectible accounts at the end of 2016 + Bad debt expense of 2017 - The amount of write off actual bad debts.

The amount of write off actual bad debts = Allowance for uncollectible accounts at the end of 2016 + Bad debt expense of 2017 - Allowance for uncollectible accounts at the end of 2017 = $180,500 + $32,800 - $187,500 = $25,800

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Answer:

$9,3

Explanation:

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Inventory, May 1 $10,440        $14,500 .72

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Freight-in          2,000

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Net markups                                  3,400

Net markdowns                           (1,300)

Totals excluding beginning inventory

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Goods available $43,740          59,500

Sales                                          (46,500)

Inventory, May 31                         $13,000

Estimated inventory, May 31

($13,000 × .72) $ 9,360

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3 years ago
When direct materials are used in production, costs are assigned by debiting Work-In-Process Inventory and crediting __________.
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Explanation:

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Which of the following conflict management methods is expressed as "We should express our concerns about the conflict and sugges
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  • A - Acknowledge: Assume that the other person is right and will resolve the dispute.
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