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guapka [62]
3 years ago
15

Gideon Company uses the direct write-off method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off

the $2,000 uncollectible account of its customer, A. Hopkins. The entry or entries Gideon makes to record the write off of the account on May 3 is
Business
1 answer:
zloy xaker [14]3 years ago
7 0

Answer and Explanation:

The Journal entry is shown below:-

Bad debts expense Dr, $2,000

          To Accounts receivable-Hopkins $2,000

(Being write off is recorded)

Here we debited the bad debt expenses as it increased the expenses and we credited the accounts receivable as it reduced the assets so that the proper posting could be done  

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For your business to be successful you will need a strategy for beating the competition, that is, a ________.
Natali5045456 [20]
The answer is the letter "B" Competitive Advantage.
5 0
3 years ago
A market has four individuals, each considering buying a grill. Assume that grills come in only one size and model. Martina cons
artcher [175]

Answer:

Martina

Javier :

Kama

Explanation:

The people that would participate in the market are those whose willingness to pay is higher than the market price for the grill.

The willingness to pay is the highest amount a person would be willing to pay for a good

Martina : $400 > $300  would participate

Javier : $350 > $300 would participate

Kama : $320 > $300 would participate

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5 0
3 years ago
Charu Khanna received a Form 1099-B showing the following stock transactions and basis during 2019 Stock Date Purchased Date Sol
AysviL [449]

Answer:

Charu Khanna

The Net capital loss is:

= $2,000.

Explanation:

a) Stock Transactions and Data during 2019:

Stock                                  Date      Date Sold  Sales Price ($) Cost Basis ($)

                                      Purchased

4,000 shares Green Co. 06/04/07 08/05/19       12,000              3,000

500 shares Gold Co.        02/12/17 09/05/19      54,000            62,000

5,000 shares Blue Co.   02/04/08  10/08/19       18,000            22,000

100 shares Orange Co.     11/15/18   07/12/19       19,000            18,000

Total                                                                   $103,000       $105,000

Net capital loss:

Long-term capital loss = $3,000

Short-term capital gain = $1,000

Net capital loss =            $2,000 ($3,000 - $1,000)

8 0
3 years ago
All quality social media creation for a business has some cost attached to it, therefore business managers have many factors the
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Answer: media share site

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6 0
3 years ago
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zavuch27 [327]

Answer:

a. $60.

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