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
Afina-wow [57]
3 years ago
8

Sheffield Corp. has outstanding accounts receivable totaling $6.46 million as of December 31 and sales on credit during the year

of $23.2 million. There is also a credit balance of $13000 in the allowance for doubtful accounts. If the company estimates that 6% of its outstanding receivables will be uncollectible, what will be the amount of bad debt expense recognized for the year?
Business
1 answer:
raketka [301]3 years ago
8 0

Answer:

bad debt expense for the year ended 374,600 dollars

Explanation:

6% of the accounts receivables are uncollectible.

year-end accounts receivables:     6,460,000

estimated bad debt expese of 6% =  387,600 credit

current allowance balance               <u>    13,000 credit</u>

year-end adjustment for allowance: 374,600

You might be interested in
Irma has $500 to open a checking account. She wants an account with the lowest fees. She plans to use only her bank’s ATM to dep
Kruka [31]
According to my examination I have confirmed that I do NOT repeat do NOT know the answer to this question. Good luck!
6 0
3 years ago
Read 2 more answers
An expansionary fiscal policyLOADING... involves an increase in government purchases or an increase in​ taxes:
Crazy boy [7]

Answer:

C - An expansionary fiscal policy involves the increase of government purchases​ and/or a decrease in taxes in order to increase aggregate demand

Explanation:

An expansionary fiscal policy is any policy undertaken by the government to increase money supply.

When government makes purchases, money supply increases.

When taxes are cut, disposable income increases which increases aggregate demand and money supply.

I hope my answer helps you.

3 0
3 years ago
In 2017, Eraser Corp had Revenue of $200 million, Cost of Goods Sold of $100 million (this includes Depreciation of $50 million)
trapecia [35]

Answer:

The after-tax cash flow generated by Eraser Corp in 2017 should be $89.5 million

Explanation:

Net income before tax = Revenue - Cost of Goods Sold - Sales General and Admin Expenses = $200 million - $100 million - $50 million  = $50 million

Eraser Corp faced a tax rate of 21%,

Tax paid  = 21% x $50 million = $10.5 million

No money was spent on Capital Expenditures or on additional Net Working Capital.

The after-tax cash flow generated by Eraser Corp in 2017 = Net income before tax + Depreciation expense - Tax = $50 million + $50 million - $10.5 million = $89.5 million

Note: Depreciation expense is Non-Cash Expenses, so it does not include in Cash Flow.

6 0
4 years ago
Who has done a Hopkinsville High school resume template before?
Snowcat [4.5K]
I have not used a hopkinsville high school resume template before.
8 0
3 years ago
Whether True or False.
Shalnov [3]

Answer:

see below

Explanation:

1. Division of labor develops an individual’s creativity... <u>False, </u>division of labor involves repeating the same tasks, which created monotony and kills creativity.

2.Specialization can be applied go all productive activity... <u>True, </u>Specialization involves concentrating on a specific skill, activity, or production process,

3. Specialization produces sameness of products... <u>True, </u>same employees using the same processes in production will most likely have the same outcome.

4. Cost per unit is reduced with specialization... <u>True, s</u>pecialization increase efficiency leader in lowering cost per unit.

6 0
3 years ago
Other questions:
  • The consumer price index is a way that the us government measures ________.
    14·2 answers
  • Although the "Great Recession" that began in late 2007 ended officially in the summer of 2009, the U.S. economy had staged only
    15·1 answer
  • What measures the change in prices of a basket of goods and services in a given year?
    13·1 answer
  • Johnson, Inc. has just ended the calendar year making a sale in the amount of $10,000 of merchandise purchased during the year a
    6·1 answer
  • Three Corners Markets paid an annual dividend of $1.42 a share last month. Today, the company announced that future dividends wi
    13·1 answer
  • Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions.
    11·1 answer
  • . Information found on the company's income statement and balance sheet is extracted from these documents and examined more clos
    14·2 answers
  • Using the following accounts and a predetermined overhead rate of 50% of direct labor cost, determine the amount of applied over
    13·1 answer
  • Networking is a key benefit to a college education.which of the following is not an example of a networking benefit
    9·1 answer
  • Problem 3-51 (LO 3-4) (Algo) Skip to question [The following information applies to the questions displayed below.] Tawana owns
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!