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
lesya692 [45]
3 years ago
12

The Allowance for Bad Debts account has a debit balance of $ 7 comma 000 before the adjusting entry for bad debts expense. After

analyzing the accounts in the accounts receivable subsidiary​ ledger, the​ company's management estimates that uncollectible accounts will be $ 10 comma 000. What will be the amount of the adjustment in the Allowance for Bad Debts​ account?
Business
1 answer:
IgorC [24]3 years ago
7 0

Answer:

$17,000

Explanation:

The amount of the Allowance for Bad Debts​ account after adjustment is shown below:

= Debit balance of Allowance for Bad Debts account + uncollectible accounts

= $7,000 + $10,000

= $17,000

The journal entry is also shown for better understanding

Bad debt expense A/c Dr  $17,000

  To Allowance for doubtful debts  $17,000

(Being bad debt expense is recorded)

You might be interested in
ammi purchases stock in Vivaldi Corporation. Vivaldi Corporation later encounters legal issues and faces significant legal claim
olga55 [171]

Answer:

Tammi's liability is d. limited to her investment in the stock.

Explanation:

Since Tammi has purchased a stock in a corporation, one of the fundamental property of a corporate is that the stock-holders of the corporation have a limited liability meaning shareholders are only legally responsible for the debts of a company only to the extent of their investment in the company.

So Tammi's liability is limited to her investment in the stock of Vivaldi Corporation.

6 0
4 years ago
Read 2 more answers
A plan to exploit experience-based cost and location economies, transfer core competencies with the firm, and pay attention to l
ikadub [295]

Answer:

D) transnational strategy.

Explanation:

A transnational strategy is more personalized or custom fit than other global or international strategies. When corporations follow this approach, they will generally coordinate the subsidiary's operations with the headquarters, and will work closely together. Generally it focuses on marketing and operational activities, e.g. international retail stores.

8 0
4 years ago
The person may not have made a wise choice initially; the chosen career may no longer exist; values and interests may have chang
boyakko [2]

Answer:

Changing Careers

Explanation:

My best guess would be that the reason their values and interests may have changed is either due to going back to school or changing careers. In both cases, your interests would of changed to fit what you chase but changing seems more plausible. Hope this helped and solved your question!

8 0
3 years ago
Read 2 more answers
During its first year in business, Comfy Home accounted for its inventory using the last in first out (LIFO) method. In the seco
Dmitry [639]

Answer:

Consistency principle

Explanation:

Accounting principles are defined as the general rules of.axcpunting that businesses are expected to follow when reporting financial information.

Accounting principles include:

- Accrual principle

- Conservatism principle

- Consistency principle

- Cost principle

- Economic entity principle

- Full disclosure principle

- Going concern principle

- Matching principle

- Materiality principle

- Monetary unit principle

- Reliability principle

- Revenue recognition principle

- Time period principle

Consistency principle requires one the continue using an accounting method consistently for future accounting periods so that information can be easily comparable.

In the given scenario the accountant tells Tenisa that US GAAP allows a company to choose its inventory valuation method as long as it doesn't change over time without a justifiable reason.

This is an example of consistency principle

5 0
3 years ago
traci budgeted $770 for fixed expenses and $530 for living expenses per month. She has no annual expenses. Her annual net income
Nuetrik [128]

ANSWER: Surplus by $1,152

EXPLANATION: Traci had a budget of $770 for fixed expense and $530 for living expenses per month which adds up to $1,300 expenses per month. Since she has no annual expense, her yearly total expense would be $15,600.

Traci earns $16,752 so by subtracting her expense from income, we get $16,752 - $15,600 = $1,152

7 0
4 years ago
Read 2 more answers
Other questions:
  • A good with many close substitutes is likely to have relatively ______ demand, since consumers can easily choose to purchase one
    13·1 answer
  • You just won a prize that will pay you $800 today and $500 a year for the next three years. Which is the correct formula for com
    9·1 answer
  • To distinguish those combinations of goods and services that are affordable from those that are​ not, households need informatio
    12·2 answers
  • Bramble University sells 6,500 season basketball tickets at $40 each for its 13-game home schedule.
    7·1 answer
  • Selling the bonds at a premium has the effect of
    8·1 answer
  • Many economists believe that the market for wheat in the United States is an almost perfectly competitive market. If one firm di
    13·1 answer
  • writing in a business environment differs from other types of writing. in professional settings, written messages and oral prese
    12·1 answer
  • Do i need a LLC for a lipgloss business
    9·1 answer
  • What interdisciplinary field is dedicated to understanding and management of people at work?.
    10·1 answer
  • The responsibilities of the board of directors includes: Group of answer choices Caring for shareholder interests A
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!