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
timofeeve [1]
2 years ago
13

In august, Johns Co.’s account receivable balance was written off using the direct method. In November, Johns pays the balance i

s full. The Journal entry to record the reinstatement of the account receivable must include a credit to the ________ account before recording a debit to the Cash account.
Business
1 answer:
rosijanka [135]2 years ago
8 0

Answer: Bad debts Expense

Explanation: Bad Debts Expenses occur when qccount receivable has been written off initially and may be recovered in full or in part.

For the journal entry, the accounting treatment of recovered amount will require two journal entries with the first entry being made to reinstate the recovered account , and the second one being made to record the receipt of cash from that receivable..

Therefore, when a previously written off account is recovered and the cash is received from the related receivable, the Journal entry to record the reinstatement of the account receivable must include a credit to the Bad debts Expense account before recording a debit to the Cash account.

You might be interested in
You bought some shares of stock and, over the next year, the price per share increased by 5 percent, as did the
FinnZ [79.3K]

Answer:

<u>d. a nominal gain, but no real gain, and you paid taxes on the nominal gain. </u>

Explanation:

<u>Nominal gain:</u> In business, the term "nominal gain" is described as the increase or hike in the price or cost of an asset as per the "federal tax code" and is also denoted as "nominal amount" and is considered as non-adjustable for inflation. However, when a specific product or asset or stock is being sold more than its "actual price" or above its "purchase price" then a gain or profit is noted and hence is taxed.

<u>In the question above, the correct answer is option D.</u>

<u></u>

3 0
3 years ago
A court-ordered ______________ was imposed on fairlawn city employees who worked on the city's streets and bridges. although the
melisa1 [442]

A court-ordered injunction was imposed on Fairlawn city employees who worked on the city's streets and bridges.

A court order which require a person to do or stop doing any specific action is called injunction and it has three types Permanent Injunctions,<span> Temporary restraining orders</span> and preliminary injunctions<span>.</span>

8 0
3 years ago
An expanding economy puts stress on the manufacturing ability of a company. When a firm turns business down during periods of ec
Len [333]

An expanding economy puts stress on the manufacturing ability of a company. When a firm turns business down during periods of economic expansion, a problem exists in the area of <u>capacity utilization</u>.

The capacity usage rate measures the proportion of a company's potential output this is truly being found out. The capability usage price of an organization or a national economy may be measured so one can provide perception into how nicely its miles reach their capacity.

Efficiency is commonly expressed as a percent of the actual output to the anticipated output. capacity usage, on the other hand, is a degree of ways well an organization makes use of its efficient capability. it's the relationship between capability or theoretical most output and the real production output.

Ability utilization is a degree of the extent to which the productive potential of a commercial enterprise is getting used by potential users may be calculated by way of: real. output / maximum output x a hundred. results of operating beneath capability.

<u></u>

Learn more about capacity utilization here: brainly.com/question/24203215

#SPJ4

5 0
1 year ago
Which tag tells the browser that the document is in html format?
MatroZZZ [7]

Answer:

<HTML> tag

Explanation:

5 0
3 years ago
Royal Lawncare Company produces and sells two packaged products, Weedban and Greengrow. Revenue and cost information relating to
asambeis [7]

Answer:

\left[\begin{array}{ccCc}&$Weedban&$Greengrow&$Total\\$Sales&90,000&210,000&300,000\\$Variable&-36,000&-147,000&-183,000\\$Traceable Fixed&-45,000&-21,000&-66,000\\$Business Fixed Cost&&&-33,000\\$ Income&9,000&42,000&18,000\\\end{array}\right]

Explanation:

\left[\begin{array}{ccCc}&$Weedban&$Greengrow&$Total\\$Sales&90,000&210,000&300,000\\$Variable&-36,000&-147,000&-183,000\\$Traceable Fixed&-45,000&-21,000&-66,000\\$Business Fixed Cost&&&-33,000\\$ Income&9,000&42,000&18,000\\\end{array}\right]

We will multiply the sales price by the production of each segment

Then, we do the same for the variable cost

Next, we write the traceable fixed cost

On the total we post the common fixed cost

finally the income per segment and for the company as a whole.

4 0
3 years ago
Read 2 more answers
Other questions:
  • SilverFinn makes high-end jewelry for women. This jewelry is manufactured and patented in Italy. Manufacturers in Argentina crea
    14·1 answer
  • The monitoring step of the mission and vision statements development process is analogous to which step of the principles of man
    15·1 answer
  • Morris Company had the following adjusted trial balance:
    10·1 answer
  • A company's 2019 financial records included the following: Jan. 1, 2019 Dec. 31, 2019 Accounts Receivable $100,000 $80,000 Inven
    7·1 answer
  • Lots of Stuff Company reports the following data for its first year of operation. Cost of goods manufactured $455,000 Work in pr
    10·2 answers
  • Which of the following does NOT increase food intake?a) serotoninb) beta-endorphinsc) decreased blood glucose levelsd) neuropept
    7·1 answer
  • For february, sales revenue is $700,000; sales commissions are 5% of sales; the sales manager's salary is $96,000; advertising e
    13·1 answer
  • Which of the following comes closest to the value at the end of year 6 of investing $600 today (year 0) and then investing anoth
    7·1 answer
  • _____ cannot monitor personal email accounts.
    9·2 answers
  • An enabling statute and which legislation are key elements in the formation of an agency?​
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!