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
german
3 years ago
7

Trowel Corp. has outstanding accounts receivable totaling $13,000,000 as of December 31 and sales on credit during the year of $

48,000,000. There is also a credit balance of $24,000 in the allowance for doubtful accounts. If the company estimates that 6% of its outstanding receivables will be uncollectible, what will be the amount of bad debt expense recognized for the year
Business
1 answer:
maksim [4K]3 years ago
5 0

Answer:

$756,000

Explanation:

Allowance for Bad Debts opening        ($24,000)

Allowance for Bad Debts Closing         $780,000

(13,000,000)*6%

Allowance Bad  Debt Expense for the year  $756,000

You might be interested in
Which of the following group of countries is more likely to lag in terms of green practices, according to the IBM study mentione
Alexxandr [17]

Answer:

Correct answer is A. North America

Explanation:

IBM environmental study report the list countries according to their responses to the green practice which indicate that North America is likely to lag in the eco-friendly activities.

4 0
3 years ago
QUESTION THREE
sveta [45]

From the amount of capital that the graduates had, the firms economic depreciation would be $10000

<h3>How to solve for the economic depreciation of the firm</h3>

Original cost of the capital - market value of capital after a year

= $30000 - $20000

= $10000

<h3>How to solve for the partnership costs</h3>

This is the Cost of capital plus cost of office space and cost of interest =  $44,520

<h3>How to solve for economic profit</h3>

Total revenue - partnership cost

100000 - 44520

= $55,480

Read more on economic depreciation here: brainly.com/question/14552090

#SPJ1

4 0
2 years ago
Select the correct answer. Which term describes the ability to use different types of reasoning for different situations and ana
Volgvan
A.
None of the other answers make sense.
Critical thinking involves deep thought into a problem while also factoring other events into play.
8 0
3 years ago
Read 2 more answers
A government makes a contribution to its pension plan in the amount of $10,000 for year 1. The actuarially-determined annual req
miss Akunina [59]

Answer:

$10,000

Explanation:

Based on the information given we were told that the government contribution to the pension plan was the amount of $10,000 for year 1 which simply means the amount of $10,000 will be the pension expenditure for the general fund for year 1.

Therefore the pension expenditure for the general fund for year 1 will be $10,000.

3 0
3 years ago
The preferred debt-to-income ratio is usually: A. 28 percent B. 36 percent C. 40 percent D. 50 percent
krek1111 [17]

the preferred debt to income ratio is usually B 36%

4 0
3 years ago
Other questions:
  • Which of the following would not be used to create a personal balance sheet?
    7·1 answer
  • Some economists suggest that the fed should follow an explicit rule or formula for monetary policy. for​ example, the rule would
    15·1 answer
  • The value of U.S. imports is Multiple Choice
    13·1 answer
  • Portions of the financial statements for Peach Computer are provided below.
    6·1 answer
  • Canada’s economy is dominated by the private sector, though some enterprises (e.g., postal services, some electric utilities, an
    10·1 answer
  • Jerome, a manager at Welford Nonprofit Group, is known for his selflessness and willingness to give to others. He likes working
    6·2 answers
  • It is important to shop around for credit because banks and financial institutions have varying credit histories. charge differe
    14·1 answer
  • Last summer, Fabia applied for three jobs. The first required a resume, but nothing else. The second required both a resume and
    12·1 answer
  • Expliquen la siguiente frase:
    8·1 answer
  • Barton Industries expects next year's annual dividend, D1, to be $2.00 and it expects dividends to grow at a constant rate g = 4
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!