1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
dexar [7]
3 years ago
15

On January 1, 2017, Accounts Receivable and Allowance for Uncollectible Accounts for Darius Company carried balances of $20,000

and $550, respectively. During the year, the company reported $70,000 of credit sales. There were $400 of receivables written off as uncollectible in 2017. Cash collections of receivables amounted to $74,700. The company estimates that it will be unable to collect 5% of the year-end accounts receivable balance. The amount of bad debts expense recognized in the 2017 income statement will be: ________:
(A) $545
(B) $595
(C) $745
(D) $795
Business
1 answer:
kupik [55]3 years ago
8 0

Answer:

(C) $745

Explanation:

The computation is given below:

For computing the bad debt  expense, first we have to determine the ending account receivable balance which is shown below:

Ending account receivable balance = Beginning account receivable + credit sales - collections - written off amount

= $20,000 + $70,000 - $74,700 - $400

= $15,300

So, the bad debt expense is

= Ending account receivable × given percentage

= $15,300 × 5%

= $745

You might be interested in
For the U.S. economy, money holdings are a
swat32

Answer:

C) small part of household wealth, and so the interest-rate effect is small.

Explanation:

During 2011 the per capita holdings of US dollars amount to only $2950, compared to the GDP per capita of $49,794 it is not a significant amount. Some government agencies estimate that nearly 2/3 of all $100 bills are held in foreign countries.

The decrease in money holdings can be attributed to an increase in the use of banking services, especially an increase in the use of debit cards, but also credit cards and checks.

6 0
3 years ago
If your procurement budget request did not provide for buying a whole number of useable end items, this would be a violation of
Valentin [98]

Answer:

Full funding policy.

Explanation:

This would be a violation of Full funding policy.

Full funding strategy is a federal budgeting requirement implemented by Congress in the 1950s on the Department of Defense (DOD) that mandates all acquisition expenses of a weapons or piece of military equipment to be financed in the year the object is procured. Hence in the above example there is violation of Full funding strategy.

3 0
3 years ago
The increase in international trade in the united states is partly due to
Sholpan [36]
The United States' increase in international trade is partly due to different factors. Some of these factors are the improvements in transportation, which we know give access to the deliveries of the different trade products and travelling to the area of origin is already easy.  The advancement in telecommunications also provides an increase in trade since relaying information is faster than before, this means different instructions and specifications and even gathering orders from far places can be easily sent and received.  And another one is the increasing trade of goods with a higher value per pound.  High value gives more profit and income tot he trade industry.
3 0
3 years ago
Bramble Corp. reported net income of $194,800 for 2019. Bramble also reported depreciation expense of $43,200 and a loss of $5,5
Elenna [48]

Answer:

The operating activities section of the statement of cash flows for 2019 is $282,400

Explanation:

This an indirect method of preparing cash flow. And indirect method starts with net income.

Please refer to the attached for the calculation.

3 0
2 years ago
Sonor Systems undertakes its own machine maintenance. The depreciation on the equipment is $20,000 per year and operating cost i
NISA [10]

Answer:

d.$570,000

Explanation:

Please see attachment

5 0
3 years ago
Other questions:
  • Assume a U.S.-based MNC is borrowing Romanian leu (ROL) at an interest rate of 8% for one year. Also assume that the spot rate o
    13·1 answer
  • Is a Polo shirt proper for a business job?
    6·1 answer
  • “ She turned to her shoulder partner to make sure that she had all that was presented” This is a active sentence how do you turn
    6·1 answer
  • In what way does the kettle falls five case illustrate a weakness of a federal system? choose the best answer.
    14·1 answer
  • Matt and tamela reward good behavior and ignore bad behavior when possible. when punishment is required, they calmly employ tech
    5·2 answers
  • If a company is concerned about lending money to a risky customer, which one of the following would it not want to do? Require t
    10·1 answer
  • What happens if you perm your hair after washing it?
    7·1 answer
  • A firm has common stock with a market price of $25 per share and an expected dividend of $2 per share at the end of the coming y
    15·1 answer
  • What is the difference between the pre-reservation and installment
    15·1 answer
  • Ali had previously calculated the Economic Order Quantity required to efficiently control costs at his company. His calculations
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!