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BARSIC [14]
3 years ago
12

Abbott Company uses the allowance method of accounting for uncollectible accounts. Abbott estimates that 2% of credit sales will

be uncollectible. On January 1, Allowance for Doubtful Accounts had a credit balance of $3,300. During the year, Abbott wrote off accounts receivable totaling $2,300 and made credit sales of $113,000. There were no sales returns during the year. After the adjusting entry, the December 31 balance in Bad Debt Expense will be?
Business
1 answer:
kolezko [41]3 years ago
6 0

Answer:

$ 2,260

Explanation:

Since Allowance method is used,

Bad Debt Expense balance would be % estimated to be uncollectible.

Balance in Bad Debt Expense after adjusting entry would be

= $ 113,000 Credit sales x 2%

= $ 2,260

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Ronnie, the advertising manager of a leading newspaper, congratulates every member of the space selling team who achieves his or
gogolik [260]

Answer:

The correct answer is letter "C": Leading.

Explanation:

Leading is the activity individuals engage in any aspect, in any field, when they naturally take responsibility for managing a group of people to achieve a collective goal helping each member of the team reach their personal objectives. Leaders tend to set an example that attracts subordinates. In return, leaders give appraisal to their followers after every little piece of work is done effectively.

4 0
3 years ago
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A common type of partnership that involves a managing partner and a financial partner is known as a(n):________
balandron [24]

A general partnership is a partnership when all partners share in the profits, managerial responsibilities, and liability for debts equally.

<h3>What is general partnership?</h3>

A general partnership, the most basic type of partnership under common law, is an organization of people or an unincorporated company that has the following major characteristics: Agreement, proof of existence, and estoppel must all be used to create it.

Two conditions must be met in order to form a general partnership: The company must have at least two owners. All partners must agree to accept unlimited personal responsibility for any debts or legal liabilities incurred by the partnership.

Unless otherwise stated in the agreement, all partners in a general partnership have equal standing and the authority to participate in the management of the business. When a decision must be made, each partner is usually given one equal vote.

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7 0
1 year ago
Experience indicates that strategic alliances Multiple Choice have a high "divorce rate." are generally successful. work well in
bezimeni [28]

Answer:

have a high "divorce rate."

Explanation:

A strategic alliance can as well reffered to as strategic partnership and can be regarded as agreement that exist between two parties or more so that they can work in acheiving some objectives they agreed on even though they still remains as an independent organization to each other. It should be noted that Experience indicates that strategic alliances have a high "divorce rate."

7 0
3 years ago
Paul and Karen Kent are married, and both are employed (Paul earned $44,000 and Karen earned $9,000 this year). Paul and Karen h
VashaNatasha [74]

Answer:

$760

Explanation:

The tax credit for child and dependent care expenses allows working taxpayers to discount up to 35% of care expenses. The exact percentage that you are allowed to deduct depends on your income:

  • if you earn up to $15,000, you can discount 35% of dependent care expenses of up to $3,000 per child.
  • the percentage decreases for every $2,000 of income (1% decrease per every $2,000), until your income reaches $43,000 where it remains at 20%.

The Kent's earned $53,000 during the year, so they can claim up to 20% of their children's care expenses = $3,800 x 20% = $760

8 0
3 years ago
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Nikitich [7]

Answer:

C. $25,960

Explanation:

Cost of asset includes all the cost involved to acquire and install the asset. In simple term all the costs that are necessary to make the asset usable are capitalised and added to the cost of the asset.

In this question stamping machine has following cost which need to be capitalised.

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Routine Maintenance cost is the routine / period cost which incur every month, It is not necessary to make the asset usable and it is incurred after the asset is used.

5 0
3 years ago
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