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
den301095 [7]
3 years ago
10

Assume Zap industries reported the following adjusted account balances at year-end. 2019 2018 Accounts Receivable $ 1,730,200 $

1,380,920 Allowance for Doubtful Accounts (96,000 ) (79,900 ) Accounts Receivable, Net $ 1,634,200 $ 1,301,020 Assume the company recorded no write-offs or recoveries during 2019. What was the amount of Bad Debt Expense reported in 2019?
Business
1 answer:
Mazyrski [523]3 years ago
4 0

Answer:

The amount of Bad Debt Expense reported in 2019 was $16,100.

Explanation:

Our concern is mainly on the allowance for doubtful accounts. Based on the facts given in the question, the opening balance of the allowance account was $79,900 credit balance, while the closing balance was $96,000 credit. Since there were no write-offs or recoveries during 2019, the bad debt expense is simply the difference between the closing balance and the opening balance i.e, $96,000 - $79,900 = $16,100.

The journal entries will be:

Debit Bad debt expense                                           $16,100

Credit Allowance for doubtful account                    $16,100

<em>(To record the bad debt expense for 2019)  </em>

You might be interested in
The annual earnings of a typical investor are
fenix001 [56]

Answer:

The answer Is c

Explanation:

4 0
3 years ago
The account balances of Sentinel Travel Service for the year ended August 31, 2019, are listed below:
Yanka [14]

Answer:

Explanation:

The preparation of the report form balance sheet as of August 31, 2019 is presented below:

                                      Sentinel Travel Service

                                 Report form balance sheet

                              For the year ended August 31, 2019

Assets

Cash                                             $143,125

Account receivable                     $54,240

Supplies                                       $9,300      

Land                                             $248,000

Total assets                                 $454,665

Liabilities

Account payable                        $19,370

Owner equity

Ending capital                            $435,295

Total liabilities

And owners equity                    $454,665

The net income would be

= Fees earned - Office expense - Miscellaneous expense - Wages expense

= $774,800 - $178,205- $15,495 - $371,905

= $209,195

And, the ending capital would be

= Opening capital - withdrawn amount + net income - additional cpiatl

= $209,000 - $29,400 + $209,195 + $46,500

= $435,295

7 0
3 years ago
Compared to other groups, the _______________ generational cohort is more likely to complain, need special attention, and take t
Vinvika [58]

Answer:

<u>Seniors </u>

Explanation:

The seniors generational cohorts refers to the generation that preceded the generation of baby boomers classified as those individuals who were born between 1946 and 1964.

The seniors generation is habitually complaining, something inherited from their witnessing times of wars and periods of uncertainties and financial distress.

This generation commands respect, special attention and at the same time are more miserly in their spending habits.

Also a common observation being, these individuals are not well familiar and adept with technological advancements such as gadgets, systems and modern day appliances in the sense they require more time to get used to them.

5 0
3 years ago
You notice that you always make your transaction at the very beginning of the round. Although​ it's nice to transact every​ time
Mazyrski [523]

Answer:

you're receiving too small of a gain

Explanation:

Based on the information provided within the question it can be said that offering a price so low that buyers immediately accept it might mean you're receiving too small of a gain. That is because if a buyer is immediately accepting it, then it can be because they realize that it is a great deal and that they will most likely not find a better price anywhere else and immediately decide to buy it from you. Therefore you can be selling it for an increased profit margin by increasing the price.

4 0
3 years ago
After you open your new business is not the best time to
Alexxandr [17]

C. Conduct a research on your product.

You should have already done the research by this stage

6 0
3 years ago
Read 2 more answers
Other questions:
  • Reyes Company had a gross profit of $720,000, total purchases of $840,000, and an ending inventory of $480,000 in its first year
    12·1 answer
  • During a recessionary period, which of the following economic behavior would be expected? Consumer would switch from premium bra
    14·1 answer
  • In a free-market economy, a product that entails a negative externality (additional social cost) will be
    6·1 answer
  • John Roberts is 55 years old and has been asked to accept early retirement from his company. The company has offered John three
    13·1 answer
  • The lower the ___, the less interest you will pay.
    11·1 answer
  • On October 1, year 14, Park Co. purchased 200 of the $1,000-face-value, 10% bonds of Ott, Inc., for $220,000, including accrued
    11·1 answer
  • Opportunity costs are a large factor in individual decision-making. Please sort the statements according to whether or not they
    5·1 answer
  • Whirly Corporation’s contribution format income statement for the most recent month is shown below: Total Per Unit Sales (7,600
    11·1 answer
  • The State of Chiapas, Mexico, decided to fund a program for literacy. The first cost of $250,000 now and an updated budget of $9
    10·1 answer
  • Which of the following is an advantage of a centralized purchasing department? a. Less bureaucracy b. Specialization c. Closer c
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!