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Katena32 [7]
3 years ago
8

Credit sales 172,000 collections on accounts receivable during the year 170,000 cash sales 818,000 unadjusted debit balance in a

llowance for doubtful accounts 40 sales returns and allowances for credit sales 2,000 accounts receivable, beginning 14,000.If expected bad debts are estimated to be 1 1/2% of ending accounts receivable, the adjusting entry to recognize bad debts will include a debit to bad debt expense for a) $170 b)$190 c) $250 d) $210
Business
1 answer:
Marina CMI [18]3 years ago
7 0

Answer:

$250  ( C )

Explanation:

using the given data below is the entry

The adjusting entry to recognize bad debts will include a debit to bad debt expense for

<h3>  particulars                                                                   amount</h3>

Beginning accounts receivable                                                     14000

+ Credit sales made during the year                                             172000

(-) collections from debtors                                                            (170000)

(-) expected salary return & allowances for credit sales               (2000)

Ending accounts receivable                                                          14000

Percentage of bad debt                                                                 1.5%

Total bad debts balance required ( 14000*1.5%)                          210

+ Already debit balance in allowance for doubtful account         40

Total debit to be made in bad debts                                              250

Total debts = total bad debts balance required + already debit balance in all

                  =  210 + 40 = $250

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7 0
3 years ago
Some people believe that the right of privacy should be extended to the workplace. Others feel that, on the contrary, such an ex
PSYCHO15rus [73]

Explanation:

This discussion about organizations monitoring employee behavior can be related to ethical and unethical issues.

The ideal is for the company to have a set of well-defined policies and procedures with regard to the rights and duties of employees, as long as the policies have ethical and legal foundations, which guarantee the right to privacy and human integrity.

Therefore, the monitoring of the employee's behavior must always be related to their functions, and to the fulfillment of internal policies.

6 0
3 years ago
on may 1, there were 4 inventory items that cost $30 each. on may 5, 2 items were purchased for $35 each. given one item from th
disa [49]

Based on the <u>specific identification inventory method</u>, the cost of goods sold would equal $65 ($30 + $35) and not $75 as indicated in the question.

Specific identification is an inventory costing method that tracks the cost of goods to the exact items that are sold.  This method is used where it is possible to track sold items individually, especially when the sold items are separately identifiable.

Specific identification is just one method in inventory costing.  Others are <em>Last-in, First-out (LIFO), First-in, First-out (FIFO), and Weighted-Average Cost Methods.</em>

Thus, the inventory method that will produce the cost of goods sold under this scenario is the specific identification method.

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5 0
3 years ago
Rob works for $8.00 per hour. His regular hours are 40 hours per week and he gets time-and-a-half for overtime. One week he work
Arlecino [84]

Answer:

$440

Explanation:

$8.00 x 40 = 320

1.5 x 8 = 12

12 x 10 = 120

320 + 120 = 440

5 0
3 years ago
Mary's Music Store reported net income of $142,000. Beginning balances in Accounts Receivable and Accounts Payable were $25,500
Oliga [24]

Answer:

Net cash flow will be $117200

Explanation:

We have given net income = $142000

Account receivable = $2500

And account payable = $18500

So increase in account receivable = $25000 - $18500 = $6500

Ending balance in account is $30500 and $12200

So decrease in account payable = $30500-$1200 = $18300

Now we have to fond the cash flow

So cash flow = $142000 - $6500 - $18300 = $117200

7 0
3 years ago
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