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Maslowich
3 years ago
11

Under the allowance method of accounting for uncollectible accounts, a. the cash realizable value of accounts receivable is grea

ter before an account is written off than after it is written off. b. Bad Debts Expense is debited when a specific account is written off as uncollectible. c. the cash realizable value of accounts receivable in the balance sheet is the same before and after an account is written off. d. Allowance for Doubtful Accounts is closed each year to Income Summary.
Business
1 answer:
pentagon [3]3 years ago
8 0

Answer:

c. the cash realizable value of accounts receivable in the balance sheet is the same before and after an account is written off.

Explanation:

Under the allowance method of accounting for uncollectible accounts, the cash realizable value of accounts receivable in the balance sheet is the same before and after an account is written off and bad debt expenses is debited.

This means that in the period in which an account previously written off is collected, the income is unaffected.

Also, under the allowance method of accounting, total assets will remain unchanged when a particular account is being written off.

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Misha Larkins [42]

Answer:

B. $165,000

This amount is made up of as follows:

Partially unsecured Liability = $25,000 ($125,000 - 100,000)

plus Unsecured with priority = $20,000

plus Totally Unsecured  = $120,000

Total = $165,000

Explanation:

a) The fully secured liability of $40,000 had secured assets worth $50,000, giving excess assets of $10,000.

b) The partially secured liability of $125,000 could only be secured with assets worth $100,000, leaving the balance of $25,000 as unsecured.

c) The Unsecured with priority equals $20,000

d) The completely unsecured without priority equals $120,000.

When (b) to (d) are summed, the total is $165,000.

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3 years ago
Which of the following is an example of an unsought good? A. Cameron purchases a new bike. B. Jordan buys paper towels. C. Taylo
NikAS [45]

Answer:

D. Riley buys new windshield wipers for her car.

Explanation:

By definition unsought goods are those which are not purchased out of want or desire, but the purchases of which arise due to any of the following circumstances:

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3 years ago
On January 1, 2018, Johnstone leased an office building. Terms of the lease require Johnstone to make 15 annual lease payments o
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Answer:

LEASE LIABILITY: 1,121,136

Explanation:

the lease liaibility will be the present value of an annuity-due (payment at beginning of the period)

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interst expense will be recognize over time against the lease liability and the payment decrease the liability. at the end of the agreement the lease liaiblity will be zero as there are no pending payment.

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Marketing technology stack is important for companies or organizations as it help to  provide market automation they will help them acheive their set goals and objective.

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