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Blababa [14]
3 years ago
9

Amend Inc. debited Accounts Receivable and credited Allowance for Doubtful Accounts to reestablish an account previously written

off. Amend Inc. should also debit _______ and credit _______.
Business
1 answer:
Aleks [24]3 years ago
3 0

Answer:

Allowance for Doubtful Accounts and

Bad debt expense

(to fill the gaps)

Explanation:

Allowance for Doubtful Accounts is the account used to record receivables that may not be collectible. When receivables may be incollectible, the entries posted are

Debit Bad debt expense

Credit Allowance for Doubtful Accounts

When the receivables can no longer be collected

Debit Allowance for Doubtful Accounts

Credit Account receivables

Hence for Amend Inc, the reversals of the above entries is what is required. Since Amend Inc. has debited Accounts Receivable and credited Allowance for Doubtful Accounts to reestablish an account previously written off, the second set of entries required would be

Debit Allowance for Doubtful Accounts

Credit Bad debt expense

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____________ include veterans’ payments, welfare, and social security payments..
zvonat [6]

Answer:

<u><em>Statement of Payments</em></u>

Explanation:

<em><u>Statement of Payments</u></em> include veterans’ payments, welfare, and social security payments..

<u><em>Social Security Benefits </em></u>are payments made to qualified retirees, disabled persons, to their spouses, children and survivors etc.

<u><em>A statement of payments</em></u> is  usually submitted with income tax return to receive the Senior Citizens'€™ Exemption.

7 0
3 years ago
Sage Hill Inc. Issues $254,000, 10-year, 10% bonds at 97. Prepare the journal entry to record the sale of these bonds on March 1
Mamont248 [21]

To record final annual interest and bond repayment:

2017

Mar 1

Bonds interest expense       $25,400

Bonds payable                      $254,000

          Cash                                                  $279,000

On March 1, 1997, the date of issuance, the entry is:

1997

Mar 1

Cash                                        $254,000

          Bonds payable                                  $254,000

On each March 1 for 10 years, beginning March 1, 1997 (ending March 1, 2017), the entry would be (Remember, calculate interest as Principal x Interest Rate x Time)

Mar 1

Bond Interest Expense ($100,000 x 12% x 1)          $25,400

          Cash                                                                                  $25,400


8 0
3 years ago
A corporation has 40,000 shares of $25 par value stock outstanding. If the corporation issues a 4-for-1 stock split, the number
Olegator [25]

Based on the information given the number of shares outstanding after the split will be: 160,000 shares.

Using this formula

Outstanding shares=Current shares  outstanding × Number of the split

Where:

Current shares  outstanding =40,000 shares

Number of the split =4

Let plug in the formula

Outstanding shares=40,000 shares×4

Outstanding shares=160,000 shares

Inconclusion the number of shares outstanding after the split will be: 160,000 shares.

Learn more here:

brainly.com/question/14652555

4 0
2 years ago
Megan McCoy has a bachelor's degree in business management and human resources. She has 5 years of HR experience as an HR assist
mote1985 [20]

Answer:

The correct option of this question is (B). Explanation of this answer is given below in the explanation section

Explanation:

(B) is Correct Option:

Human resource manager in an organization is responsible for planning, directing and coordinating human resource management activities such as employee compensation, employee recruitment, promotions offer to an employee, etc. The major duties of the HR manager is to manage the human resource in an organization.

Why other options are not correct

(A). Interaction with customers to provide information in response to inquiries about products and services, and to handle and resolve complaints is not the responsibility of the HRM manager. It is the responsibility of the Marketing department and customer service department. In short, the customer service and marketing department are mainly responsible to perform such activities in an organization.

(C). Analyze financial information and prepare financial reports to determine or maintain record of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization is the responsibility of the accounting department. And, accounting manager is responsible for such types of activities to perform in an organization.

(D) Supervise and coordinate the activities of clerical and administrative support workers is the responsibility of Admin (a managerial post) working in the administrative unit of an organization. Usually, at this post, first-line manager, team lead, assistant manager are working under the supervision of the administrative department.

(C) Compile and keep personnel records. Record data for each employee, such as address, weekly earnings, absences, amount of sales or production, supervisory reports on ability, and date of and a reason for termination is also a responsibility of the HRM and sales department. However, it is noted some responsibility such as employee record management is the sole responsibility of the HRM department and HRM manager. But termination of an employee, absence recording, amount of sales or production are the responsibility of other departments such as the administrative department, sales department, and marketing department, etc. However, this option is also correct in a sense only if employee management involved, otherwise, this option is not correct.

3 0
3 years ago
What’s the purpose of balancing or monitoring your checking account?
MaRussiya [10]

Answer: To help you calculate how much money you have in your account. The best way to ensure the accuracy and safety of your accounts is to.. Monitor your online accounts regularly.

Explanation:

4 0
2 years ago
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