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
aleksley [76]
3 years ago
8

The collection of an account that had been previously written off under the allowance method of accounting for uncollectibleA. w

ill increase net income in the period it is collected.B. will decrease net income in the period it is collected.C. does not affect net income in the period it is collected.D. requires a correcting entry for the period in which the account was written off
Business
1 answer:
Alex777 [14]3 years ago
3 0

Answer:

C. does not affect net income in the period it is collected

Explanation:

The whole point of the allowance method is to do not impact the net income when performing a write-off

When a write-off occurs the following entry is made:

allowance for doubful accounts  debit

               account receivable                credit

If the account is reversed:

account receivable         debit

   allowance for doubful account     credit

cash                    debit

   account receivable      credit

There is no revenue or expense account used in the procedure. Therefore, it does not affect net income.

You might be interested in
1. is stay-alive inc. an effective team? why or why not? 2. how were the various team behaviors performed in this agency? what r
andre [41]

Is Stay-Alive Inc. an effective team because properly attend meetings. Distinct teams perform different functions at Stay-Alive Inc., which has a hierarchical organization. Proper teamwork, the organization has grown more effective. Encourage staff to work and ensure that new technology is employed in the workplace. In team building, major disagreements and misunderstandings arise.

What is team?

A team is an individual or group of people, all working together to achieve a common goal. Teamwork is the most important thing in the organization.

Is Stay-Alive Inc. staff at least attend 5 meetings in a week. Is Stay-Alive Inc. as hierarchical structure of team work. The organization benefits from proper team building. Employees need to be well trained and motivated in their jobs. In a team-building session, conflict and communication hurdles are generated.

As a result, Is Stay-Alive Inc. an effective team and improving performance.

Learn more about on team-building, here:

brainly.com/question/17059661

#SPJ1

7 0
2 years ago
Suppose that the country of Samiam produces only eggs and ham. In 2005 it produced 100 dozen eggs at $3 per dozen and 50 pounds
kozerog [31]

Answer:

d. nominal GDP is $500, real GDP is $400, and the GDP deflator is 125.

Explanation:

Real GDP is total output produced in an economy within a given period multiplied by base year prices

Nominal GDP is the sum of all final goods and services produced in an economy within a given period multiplied by current year prices.

Nominal GDP = (100 × $3) + (50 × $4) =

$500

Real GDP = (100 × 1.5) + (50 × $5) = $400

GDP deflator = (nominal gdp / real gdp) x 100

(500 / 400) × 100 = 125

I hope my answer helps you

6 0
3 years ago
Assume that a change in government policy results in greater production of both consumer goods and investment goods. We can conc
dolphi86 [110]

Assume that a change in government policy results in greater production of both consumer goods and investment goods. We can conclude that the economy was not employing all of its resources before the policy change.

Explanation:

Policies by government will affect economic growth

Government policies have a major role to play in encouraging (or deterring) economic growth. Economic policies that lead to economic growth include:

Investing in infrastructure:

Infrastructure, such as highways or bridges, is tangible capital available to all. Governments are increasing their capital stock in the country by investing in infrastructure.

Productivity and labor participation strategies :

Promoting a higher rate of labor participation, for example labor participation tax incentives, will lead to even more economic growth.

Policies promoting accumulation of capital and technological advancement:

Savings-enhancing strategies that lead to higher growth and thus capital investments. Strategies that encourage technological innovation, such as research and development tax credits, often lead to increased economic growth.

8 0
4 years ago
Waupaca Company establishes a $440 petty cash fund on September 9. On September 30, the fund shows $188 in cash along with recei
Simora [160]

Answer:

September 9, petty cash fund is established

Dr Petty cash 440

    Cr Cash 440

September 30, petty cash fund expenses

Dr Merchandise inventory 44

Dr Postage expenses 54

Dr Miscellaneous office expenses 144

Dr Cash short and over 10

    Cr Petty cash 252

September 30, petty cash fund reimbursement

Dr Petty cash 252

    Cr Cash 252

October 1, petty cash fund increased to $485

Dr Petty cash 45

    Cr Cash 45

6 0
3 years ago
(d) Which type of wholesalers operate on a self-service basis where other traders pick, pay and transport goods on their own​
geniusboy [140]

Answer:

i dont know how is it huh090889

5 0
2 years ago
Other questions:
  • Which do you like better guys DELTARUNE or UNDERTALE?
    8·2 answers
  • If _________ is constrained, we should __________ the staffing level to lower capacity.
    8·1 answer
  • Effective notes do NOT __________.
    11·1 answer
  • Which statement best describes how an informational interview differs from a job interview
    7·2 answers
  • Dorothy Koehl recently leased space in the Southside Mall and opened a new business, Koehl's Doll Shop. Business has been good,
    12·1 answer
  • Which is “harder” on a car, highway miles or city miles? Why?
    11·1 answer
  • How can we develop desicion making skill on ourselves​
    9·1 answer
  • Say that transaction costs are high because there are many parties to a property use dispute. If the externality is caused by, s
    15·1 answer
  • Stanley is 21 years of age, single, living at home with Mom, Dad, and his younger sister, but he is not claimed by his parents.
    9·1 answer
  • A forecast that addresses the business cycle by predicting planning indicators is.
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!