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
algol13
3 years ago
12

Daley Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of rec

eivables analysis. a.Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4.5% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. Estimated balance of allowance for uncollectiblesb.Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $12,000 credit.c.Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $1,000 debit.
Business
1 answer:
makkiz [27]3 years ago
7 0

Answer:

$25,650

Journal entries

Explanation:

The computation and the journal entries are as follows        

The estimated balance of the allowance for Doubtful Accounts is shown below:

= Total account receivable × estimated percentage

= $570,000 × 4.5%

= $25,650

The journal entry is shown below:

a. Bad debt expense A/c Dr  $13,650           ($25,650 - $12,000)

  To Allowance for doubtful debts  $13,650

(Being bad debt expense is recorded)

b. Bad debt expense A/c Dr  $24,650          ($25,650 + $1,000)

  To Allowance for doubtful debts  $24,650

(Being bad debt expense is recorded)

You might be interested in
Was the economic growth and tax relief reconciliation act of 2001 expansionary or contractionary
jasenka [17]

The economic growth and tax alleviation reconciliation act of 2001 expansionary or contractionary: sweeping U.S. tax.

Economic growth can be described as the increase or development inside the inflation-adjusted market price of the products and services produced by an economic system over a certain period of time. Statisticians conventionally measure such growth because the percent charge of growth is inside the real gross domestic product or actual GDP.

Economic growth method a boom in actual GDP – a boom inside the fee of countrywide output, income, and expenditure. essentially the benefit of financial increase is better residing requirements – higher actual incomes and the capacity to dedicate greater resources to areas like health care and schooling. extensively talking, there are fundamental assets of economic growth: growth in the size of the body of workers and growth inside the productivity (output in step with hour worked) of that team of workers. either can increase the overall size of the economy however best sturdy productivity growth can grow according to capita GDP and earnings.

Learn more about  economic growth here: brainly.com/question/1690575

#SPJ4

6 0
2 years ago
A bank's commitment (for a specified future period of time) to provide a firm with loans up to a given amount at an interest rat
sladkih [1.3K]

Answer:

credit rationing

Explanation:

Credit rationing is a situation in which borrowers give out a fixed amount of loan to lenders for a specified time at a rate tied to the market interest rate. In this situation, loans do not exceed a certain amount from the borrower no matter what attractive offers are given by the lenders to be able to get a larger loan amount. This is done by the borrower becasue the borrower is earning maximum profits from interest rates and also  is a means to maintain equilibrum between loan funds and loan demands.  

Cheers.

8 0
3 years ago
Please study the case about the "Time Warner Cable" on page 467 and write an analytical and evidence based paper of minimum five
-BARSIC- [3]

American cable television company Time Warner Cable (TWC), also known as Time Warner, was founded by William Time Warner in 1983.

After Comcast, it was the second-largest cable company in the United States, operating in 29 states before being acquired by Charter Communications. New York City's Time Warner Center served as the company's corporate headquarters, with additional offices in Stamford, Connecticut, Charlotte, and Herndon.

Time Warner and America Online merged on January 10, 2000, creating the largest company in history. When Time Warner and AOL were combined as a media conglomerate (Bagdikian), Time Warner was worth $163 billion and AOL was worth $120 billion (Bagdikian). Aspire to Time Warner, and you'll be on your way! A 6 percent increase over 2003 earnings brought in $42.089 billion in revenue in 2004. (Gohring).

Due to the nature of the publishing industry, Time Warner's publishing division generates a small amount of revenue. Small, niche audiences are the focus of magazine businesses. Since Time Warner owns over 100 magazines, it may not make a lot of money (relatively) from its publishing activities.

Time Warner's filmed entertainment business is at the other end of the revenue spectrum. About 26 percent of Time Warner's revenue came from film ventures in 2004. The major producers are Warner Bros. and New Line Cinema.

Because a film's distribution must go through before it can be released the  Five years ago, the DVD sales of current and past television shows were non-existent.

The DOJ declined the request. It's no secret that Time Warner Inc. has been a hot topic in recent years.

Businesses that operate at different points in the supply chain are brought together in a vertical merger. As a general rule, antitrust enforcers treat vertical mergers more leniently than horizontal mergers between direct competitors. Due to the absence of a competitor after a vertical merger, their ability to reduce competition in the market is less clear.

AT&T and Time Warner closed their deal two days after Judge Lyon's ruling, and the DOJ announced it would stay Judge Lyon's decision pending a possible appeal. Installation is not required. It was only after AT&T sent the DOJ a letter requesting that the parties meet before February 2019 or until the conclusion of an appeal that the DOJ agreed to this.

Judge Lyon's ruling changed certain facts and evidence, but it should not be interpreted as removing all antitrust barriers to a vertical merger. A vertical merger based on competition is difficult to challenge, but this case illustrates the difficulty of doing so. There is no presumption of loss in a vertical merger, as Judge Lyons noted in his opinion.

In order for small businesses to be successful, they must take advantage of new technology "Group Vice President for Small Business, Time Warner Cable Business Class, Maureen said. "In order to meet the growing demands of today's consumers, small business owners are being stretched and pushed to their limits. Customers can deliver a memorable experience while maintaining their trust and business with the help of modern technology deployments and services.

Security remains a top priority, and small business owners must be educated on the offers and benefits of outsourcing security.

Securing their networks from external threats is the biggest technical challenge they face today, according to 27 percent of respondents to an online survey.

Thirty-three percent of small business owners currently manage their own network security solutions, while forty percent use third-party managed security solutions for their network.

Today, small business owners face a variety of technical challenges, including

According to 32 percent of business owners, the biggest challenge they face is keeping up with the latest technology and trends.

27 percent of respondents cited slow internet as a major challenge today.

A staggering 26 percent of small business owners have a difficult time backing up their data.

A division of Time Warner Cable, Time Warner Cable Business Services offers a full range of business communications equipment to small, medium, and enterprise-sized businesses. Supplements are available from this company. Their award-winning customer service and local support teams make their Internet, voice, television, network, and cloud services even more appealing to customers.

Additionally, Time Warner Cable Business Services offers scalable managed services, primarily in the United States and the United Kingdom Application Services, Enterprise Hosting, and Managed Cloud Services are among the Time Warner Cable Business Services.

Learn more time warner cable impact the operations and decisions.

brainly.com/question/14950352

8 0
3 years ago
Since public relations communications are typically perceived as _____, they are not subject to the problems of clutter that are
denis23 [38]

Answer:

news items

Explanation:

Public relations refers to the communication that the company's have with the public through media outlets, which is why they are perceived as news items. This being the case, the public sees this news item and pays attention to this alone, as opposed to other promotional communication methods such as newspapers and articles where various information is cluttered together making it difficult to focus on one thing alone.

7 0
3 years ago
If consumers' surplus is $30 and the price paid for the good is $50, then the maximum price a buyer is willing and able to pay f
DiKsa [7]

If consumers' surplus is $30 and the price paid for the good is $50, then the maximum price a buyer is willing and able to pay for the good is $20. To solve for this question, subtract the surplus amount of $30 and the actual price paid of $50 together. Consumer surplus is defined as the difference in the amount of money that a consumer is willing to pay vs what they actually pay for a good or service.

4 0
3 years ago
Other questions:
  • On July 1, 2020, Coronado Construction Company Inc. contracted to build an office building for Gumbel Corp. for a total contract
    11·1 answer
  • A 12-month insurance policy was purchased on Dec. 1 for $3,600 and the Prepaid insurance account was increased for the payment.
    12·1 answer
  • 1. Under the system of awarding damages for bodily injury, death, or damage to property based upon the negligence of a driver, v
    14·1 answer
  • Michael's, Inc., just paid $2.00 to its shareholders as the annual dividend. Simultaneously, the company announced that future d
    9·1 answer
  • 25,000 shares reacquired by Elixir Corporation for $53 per share were exchanged for undeveloped land that has an appraised value
    10·1 answer
  • Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only settlement option. Wha
    10·1 answer
  • Sarah, the controller of a large beverage supplier, supervises two employees. Her boss, Vladimir, instructs her to increase the
    14·1 answer
  • Sheree works for a publishing company where she coordinates the efforts of designers, editors, typesetters, proofreaders, and me
    9·1 answer
  • 56
    10·1 answer
  • Mr.Akhil (55 years) paid mediclaim for self and family Rs.40,000 and for parents (80 years) Rs.60,000. What will be the deductio
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!