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svp [43]
3 years ago
14

intext:"Gideon Company uses the direct write-off method of accounting for uncollectible accounts. On May 3, the Gideon Company w

rote off the $2,000 uncollectible account of its customer, A. Hopkins. The entry or entries Gideon makes to record the write off of the account on May 3 is"
Business
1 answer:
kogti [31]3 years ago
6 0

Answer:

Dr  Allowance for Doubtful Accounts 2,000

Cr Accounts Receivable - A. Hopkins 2,000

Explanation:

Preparation of the Journal  entry that Gideon will makes in order to record the write off of the account on May 3

Based on the information given we were told that on May 3 the Company wrote off the amount of $2,000 a uncollectible account of its customer which was A. Hopkins, this means that the Journal entry will be recorded as:

May 3

Dr  Allowance for Doubtful Accounts 2,000

Cr Accounts Receivable - A. Hopkins 2,000

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In september of 1985, the british music industry reports that paul's beatles song ______________ has been broadcast over four mi
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"Yesterday"

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4 years ago
The bureau of labor statistics produces data on unemployment and other aspects of the labor market from a regular survey of hous
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The answer to this question is the Current Population Survey. The Current population survey or CPS is a survey on the United States households that primarily about 60,000 people that is done on a monthly basis. This survey is done by the United States Census Bureau. The data that is being gathered are to be used by the Bureau of Labor Statistics that surveys about the employment status of the people. 

3 0
3 years ago
Hank Itzek manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. The following are required
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Answer: $4.140 per gallon

Explanation:

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= 3,300\times\frac{0.03}{0.99}

= 100

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= 151.2

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                                             = 264.6

840 yeast tablets at $0.28 each  = 840 × 0.28

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1,050 nutrient tablets at $0.11 each  = 1,050 × 0.11

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3,100 ounces of water at $0.001 per ounce = 3,100 × 0.001

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Hanks estimates that,

1% of the grape concentrate is wasted

15% of the sugar is lost

30% of the lemons cannot be used

Hence,

Cost for 210 gallons = 100 + 151.2 + 264.6 + 235.2 + 115.5 + 3.1

                                 = $869.6

Hence, cost per gallon = \frac{Cost\ for\ 210\ gallons}{210\ gallons}

                                      = \frac{869.6}{210}

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3 years ago
ou are considering a stock investment in one of two firms (A and B), both of which operate in the same industry. A finances its
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3 years ago
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