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krek1111 [17]
3 years ago
14

Twilight Co. started operations in 2017 and has the following information at the end of June, 2021: $420,000 in its Accounts Rec

eivable and $2,000 debit balance in its Allowance for Uncollectible Accounts. Credit sales for the quarter were $3,200,000 and cash sales of $1,440,000. Twilight Co. estimates its bad debts to be 3.5% of credit sales. What is the amount of Bad Debt Expense for the month
Business
1 answer:
Lera25 [3.4K]3 years ago
7 0

Answer:

$114,000

Explanation:

When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.  

To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.

Given that it estimates its bad debts to be 3.5% of credit sales, estimated bad debt

= 3.5% * $3,200,000

= $112,000

If the Allowance for Uncollectible Accounts has a $2,000 debit balance and the estimated allowance balance should be $112,000, allowance for doubtful debt required

= $112000 + $2000

= $114,000

To account for this,

debit bad debit expense $114,000

credit allowance for doubtful $114,000

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_________ management emphasized internal operations because managers were concerned primarily with meeting the explosive growth
xenn [34]

Answer:

Systematic management

Explanation:

Systematic management is an approach of management which focus on the process of the management instead of the final outcome. The objectives of this approach to the management are:

To establish the particular procedures and processes to be used in the completion of the job task.

So, the systematic management is the one which focus on the internal operations as managers are concerned with the growth brought about through the Industrial Revolution.

5 0
3 years ago
Which of the following is a condition necessary to exclude an obligation from current liabilities? Entry field with incorrect an
lutik1710 [3]

Answer:

The answer is: Obligation that has a distant due date exceeding company's operating cycle.  

Explanation:

A current liability is a financial obligation due within one year (or one normal operation cycle).

So a financial obligation that has a due date that exceeds a company´s operating cycle should have been directly classified as a long term liability (or a non current liability) in the first place. It simply is not a current liability that is changed into a long term liability, it always was a long term liability.

The other options represent the steps necessary for turning a current liability into a long term liability.

  1. Intend to refinance the obligation on a long-term basis.
  2. Demonstrate the ability to complete the refinancing.
  3. Subsequently refinance the obligation on a long-term basis.

7 0
3 years ago
Health Care Event Protection
Genrish500 [490]

Answer:

$ 132,500

$4,250

$9000

Explanation:

From the given information:

Christina Haley of San Marcos who's aged 57 years recently suffered from stroke.

She was in intensive care for 3 days and was hospitalized for 10 more days

Total bill = $135,500

After Discharge;

she spent 25 days in a nursing home at a cost of $170 per day

Amount earned by Christiana per month at her work = $4500

She missed 2 months of going to work.

Christina had a health insurance plan through her employer.

The policy had a $1,000 deductible and an 80/20 coinsurance clause with a $2,000 coinsurance cap

1. How much of Christina’s direct medical expenses was paid by her insurance policy?

The amount the insurance policy paid  can be known by the expression:

= Total bill amount for the care - deduction for policy - coinsurance cap

= $135,000 - $1000 - $2,000

= $ 132,500

2. What did Christina have to pay for her nursing home care?

We are being told that She spent 25 days in a nursing home at a cost of $170 per day

Thus; the amount  Christina have to pay for her nursing home care = 25 × $ 170

= $4,250

3. How much income did Christina lose?

We knew she missed two months from work and she collect $4500 per month.

Thus the amount of income she lose =  $4500 × 2

the amount of income she lose = $9000

5 0
3 years ago
Has any questions or problems.
bearhunter [10]

Answer:

Customer relationship management (CRM).

Explanation:

CRM is an acronym for customer relationship management and it typically involves the process of combining strategies, techniques, practices and technology so as to effectively and efficiently manage their customer data in order to improve and enhance customer satisfaction. Therefore, these employees are saddled with the responsibility of ensuring the customer are satisfied and happy with their service at all times.

This ultimately implies that, customer relationship is focused on developing an ongoing connection between a business firm (organization) and all of its customers, as well as potential customers. The fundamentals of customer relationship is based on improving marketing communications, sales support, technical assistance and customer service so as to bring satisfaction to the customers.

Hence, the degree of satisfaction received by customers throughout their lifecycle is largely dependent on customer relationship management.

5 0
2 years ago
. Boeing is incorporated in Seattle, Washington. It has a large facility in Huntsville, Alabama, and is considered a(n) ____ in
umka2103 [35]

Answer:

The answer is: c

Explanation:

A domestic corporation is a company that conducts business in the state or country where the company was incorporated. A foreign corporation is a company that conducts business in a state or country other than the state or country where the company was incorporated. An alien corporation is a company that conducts business in any other country other than the country where the company was incorporated. Boeing was incorporated in Seattle, Washington but conducts business in Alabama which is a different state. In Alabama, Boeing is a foreign corporation but in Washington, it is a domestic corporation.

5 0
3 years ago
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