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
ivann1987 [24]
3 years ago
15

Allowance for Doubtful Accounts has a credit balance of $500 at the end of the year (before adjustment), and bad debt expense is

estimated at 3% of net credit sales. If net credit sales are $300,000, the amount of the adjusting entry to record the estimated uncollectible accounts receivables is A. $8,500B. $8,500C. $9,000D. Cannot be determined
Business
1 answer:
andrew11 [14]3 years ago
7 0

Answer:

The correct answer is c) $9,000

Explanation:

If net credit sales are $300,000 and bad debt expense is estimated at 3% of net credit sales.

$300,000 x 3%= $9,000

or

$300,000 x 0.03= $9,000

The amount of the adjusting entry to record the estimated uncollectible accounts receivables is $9,000

You might be interested in
One employee is in charge of the following activities at a refreshment stand: Activity Activity Time per Customer Greet customer
REY [17]

Answer:

A. Flow rate = 20 customers per hour

B. Utilization =0.83

C. Cycle time= 3 minutes per customer

Explanation:

A. Calculation for the flow rate

First step is to calculate the Processing time

Processing time = 5 + 25 + (1.5 ×60) + 30

Processing time=30+90+30

Processing time= 150 seconds

Second step is to calculate the Process capacity

Process capacity = 1/150 ×60 per seconds/minute ×60 per minutes/hour

Process capacity= 24 customers per hour

Now let calculate the Flow rate

Using this formula

Flow rate= Min(Demand, Process capacity)

Let plug in the formula

Flow rate= Min(20, 24)

Flow rate = 20 customers per hour

Therefore the flow rate will be 20 customers per hour

B. Calculation for the utilization

Using this formula

Utilization = Flow rate/Process capacity

Let plug in the formula

Utilization = 20/24

Utilization =0.83

Therefore Utilization will be 0.83

C. Calculation for the Cycle time

Using this formula

Cycle time = 1/Flow rate ×60 per minutes/hour

Let plug in the formula

Cycle time= 1/20 ×60 per minutes/hour

Cycle time= 3 minutes per customer

Therefore the Cycle time will be 3 minutes per customer

3 0
3 years ago
When Padgett Properties LLC was formed, Nova contributed land (value of $200,000 and basis of $50,000) and $100,000 cash, and Os
Vlada [557]

Answer:

The correct answer is $50,000.

Explanation:

According to the scenario, the given data are as follows:

Nova contributed land of value = $200,000

Nova contributed land of Basis= $50,000

Nova contributed cash = $100,000

Oscar Contributed cash = $300,000

So, we can analyze the Padgett's tax basis in the land by using following method:

As we know Nova contributed land of Basis is the only tax basis in the land for Padgett's.

So, Padgett’s tax basis in the land = Nova contributed land of Basis

Padgett’s tax basis in the land = $50,000.

4 0
3 years ago
Which type of manager would most likely be responsible for researching customers’ purchasing habits?
Kay [80]
The answer is c because it’s financial manager
8 0
3 years ago
Read 2 more answers
Please explain the largest benefit and and the largest risk associated with outsourcing of a company.
QveST [7]

Explanation:

Companies primarily outsource cost reduction. Yet today it is not just a matter of reducing costs but also of taking advantage of the advantages of practice for outsourcing, such as gaining professional skills, minimizing turnover, agile personnel and improving efficiency.

For many businesses, outsourcing — using external companies to handle the job usually done within a company— is a familiar concept. Small businesses often outsource manufacturing, billing, marketing, and many others because they have no choices. Most big firms outsource production to raise.

More broadly, outsourcing risks are usually covered by four broad categories: loss of control; loss of innovation; loss of trust in organizations; and higher transaction costs than expected.

6 0
3 years ago
Hassock Corp. produces woven wall hangings. It takes 3 hours of direct labor to produce a single wall hanging. Hassock standard
NISA [10]

Answer:

Direct labor time (efficiency) variance= $2,080 unfavorable

Explanation:

Giving the following information:

Standard= 3 hours of direct labor per unit

The standard labor cost is $13 per hour.

During August, Hassock produced 9,000 units and used 27,160 hours

<u>To calculate the direct labor efficiency variance, we need to use the following formula:</u>

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Direct labor time (efficiency) variance= (3*9,000 - 27,160)*13

Direct labor time (efficiency) variance= $2,080 unfavorable

5 0
2 years ago
Other questions:
  • Jim says, "I think it's a little like when you have a cold or the flu. You don't need to see a doctor. In time, your body heals
    5·1 answer
  • Think of a real or made up but realistic example of a pure risk that
    11·1 answer
  • A _______ is a small number of people with complementary skills who are committed to a common purpose, set of performance goals,
    11·1 answer
  • f the interest rate is 7.8% per year, approximately how long will it take for your money to quadruple in value? (Use the Rule of
    9·1 answer
  • Sharon, who works in accounting, noticed that the accounting records of her firm drastically overstated the amount of inventory
    11·1 answer
  • Waterway Corporation purchased a truck at the beginning of 2020 for $59,500. The truck is estimated to have a salvage value of $
    11·1 answer
  • Which of the following contributed to the financial crisis of 2008?
    15·1 answer
  • According to the dynamic​ ad-as model, what is the most common cause of​ inflation?
    13·1 answer
  • Does the government control all market activity in the United States?
    14·1 answer
  • Which of the following groups of people could be considered the first target market in America?
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!