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Oksanka [162]
4 years ago
7

The _________________ is an accounting method that (a) estimates bad debts expense from credit sales during the period sales are

recognized, and (b) reports accounts receivable at the estimated amount of cash to be collected. Multiple Choice Adjustment method for uncollectible debts.
Business
1 answer:
oksian1 [2.3K]4 years ago
5 0

Answer:

A) Allowance method of accounting bad debts

Explanation:

Based on the allowance method, the bad debts should be calculated on either credit sales i.e. income statement method or receivable aging method i.e. balance sheet method. Also, the account receivable should be recognized at net realizable value

Therefore the allowance method of accounting bad debts is an answer

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Consider again the price control described in the last question. Let's assume that the price control
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If it is a binding price floor, when the law is repealed, quantity demanded increases and quantity supplied decreases.

If it is a binding price ceiling, when the law is repealed, quantity demanded decreases and quantity supplied increases.

<h3>What is a price floor and a price ceiling?</h3>

A price floor is when the government sets the minimum price of a product. A price floor is binding if it is set above equilibrium price.

Price ceiling is when the government sets the maximum price for a product. It is binding when it is set below equilibrium price.

To learn more about price floor, please check: brainly.com/question/26551616

3 0
2 years ago
Sweet has year-end account balances of Sales Revenue $811,419, Interest Revenue $12,690, Cost of Goods Sold $575,593, Administra
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Answer:

Sales Revenue $811,419

Interest Revenue $12,690

Cost of Goods Sold $575,593

Administrative Expenses $189,840

Income Tax Expense $31,877

Dividends $18,984.

<u>Year end Closing Entries</u>                  Dr.                              Cr.

1.

Sales revenue                                $811,419

Interest revenue                            $12,690

Income Summary                                                             $824,109

2.

Income Summary                           $797,310

Cost of Goods Sold                                                         $575,593

Administrative Expenses                                                $189,840

Income Tax Expenses                                                     $31,877

3.

Income Summary                           $26,799

Retained Earning                                                             $26,799

4.

Retained Earning                           $12,690

Dividend                                                                           $824,109

4 0
3 years ago
in 2022, a taxpayer (with $26,500 of employee compensation) was allocated $176,000 of self-employment income. calculate the amou
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in 2022, a taxpayer (with $26,500 of employee repayment) becomes allotted $176,000 of self-employment income. calculate the amount of self-employment tax the taxpayer might owe $162,536 of net earnings from self-employment ($176,000.

A self-employed man or woman refers to any character who earns their living from any impartial pursuit of a monetary activity, rather than earning a living running for an organization or every other person (an enterprise).

Examples of occupations wherein self-employment is not unusual consist of diverse jobs in the skilled trades, writers, freelancers, artists, lawyers, accountants, financial offerings experts, and buyers.

Self-employment earnings are earnings that arise from the overall performance of private services, but which cannot be categorized as wages due to the fact an organization-employee dating does no longer exist between the payer and the payee.

Learn more about  Self-employment here:

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3 0
1 year ago
A person just bought a house for $150,000. however, he also has to pay another $2,000 for his house every year.
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Answer:

I think that its property tax i'm not sure tho

Explanation:

3 0
3 years ago
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