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Olegator [25]
3 years ago
6

At December 31, 2016, Finzelberg Company had a credit balance of $15,000 in Allowance for Doubtful Accounts. During 2017, Finzel

berg wrote off accounts totaling $11,000. One of those accounts ($1,800) was later collected. At December 31, 2017, an aging schedule indicated that the balance in Allowance for Doubtful Accounts should be $19,000.
Prepare journal entries to record the 2017 transactions of Finzelberg Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Business
1 answer:
Setler79 [48]3 years ago
7 0

Answer:. ............$

1. Bad debt Dr. 11.0000

Account receivable Or. 11.000

Narration: Bad debts writing off debtors

2. Cash/Bank. Dr 1800

Profit or loss Cr. 1800

Narration. Bad debt previously written off recovered

3. Profit or loss Dr 4000

Allowance for doubtful debts Cr

4000

Narration. Increase in provision for doubtful debts.

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Presented below are transactions related to Novak Corp.
bearhunter [10]

Answer:

1) December 3, 202x, merchandise sold on account to Sarasota Corp., credit terms 4/10, n/30, FOB shipping point.

Dr Accounts receivable 644,700

    Cr Sales revenue 644,700

Dr Cost of goods sold 363,600

    Cr Merchandise inventory 363,600

2) December 8, 202x, sales allowance granted to Sarasota Corp.

Dr Sales returns and allowances 27,400

    Cr Accounts receivable 27,400

Sales returns and allowances is a contra revenue account that decreases sales revenue.

3) December 13, 202x, invoice collected from Sarasota Corp.

Dr Cash 592,608

Dr Sales discounts 24,692

    Cr Accounts receivable 617,300

Sales discounts is another contra revenue account that decreases sales revenue.

6 0
3 years ago
BI represents a bold new paradigm in which the company's business strategy must be aligned to its business intelligence analysis
nikdorinn [45]

The answer is, False.

  • A collection of tools (technology, applications, etc.) known as business intelligence (BI) is used to enable better business decisions.
  • BI is a tool for achieving goals, not a goal in and of itself.
  • BI is a crucial tool since technology is advancing quickly and steadily.
  • For instance, it took Walmart several decades to overtake Sears as the leading retailer in the United States, but Amazon did so in only a few short years.
  • Our world has radically transformed as a result of new technology, and no organization can afford to fall behind.

<h3>What do you mean by business intelligence?</h3>
  • Business intelligence (BI) is a technology-driven method for data analysis and information delivery that aids managers, employees, and executives in making wise business decisions.

<h3>What is business intelligence give examples?</h3>
  • BI encourages the use of historical data to promote fact-based decision making as opposed to assumptions and intuition.
  • Data analysis is carried out by BI tools, which also produce reports, summaries, dashboards, maps, graphs, and charts to give users a thorough understanding of the nature of the business.

Learn more about  business intelligence here:

brainly.com/question/13339276

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4 0
2 years ago
At market equilibrium, Group of answer choices quantity demanded equals quantity supplied. surpluses are greater than shortages.
Tom [10]

Answer:

quantity demanded equals quantity supplied

Explanation:

The market equilibrium is the price at which the quantity demanded and the quantity supplied cross each other. The intersection could be made by supply and demand curves.

Therefore, there is a direct relationship between the price and the quantity supplied, while the price and quantity demanded have an inverse relationship.

When the quantity demanded and the quantity supplied are intersect at the price so we called market equilibrium

6 0
3 years ago
What market structure has many relatively small buyers and sellers, a standardized product, good information to both buyers and
Ganezh [65]

Answer:

Perfect Competition

Explanation:

Perfect competition is a market characterized by many buyers and sellers that have full information and faces no barrier in entry and exit of the markets. It is the ideal form of market structure where competition is at is greatest possible value. The numerous buyers and sellers are engaged in trade of a homogeneous good in the market. It is also characterized by no long run economic profit and no control over prices.

5 0
3 years ago
Read 2 more answers
What is the opposite of fade-in, when the image goes black?
Flura [38]

Answer:Umm fade out is the opposite if fade in, but it might not be correct.

Explanation:

;)

5 0
3 years ago
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