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Ivanshal [37]
3 years ago
11

An agingminusofminusaccountsminusreceivable indicates that the amount of uncollectible accounts is​ $3,910. The Allowance for Un

collectible Accounts prior to adjustment has a debit balance of​ $600. The Accounts Receivable balance is​ $44,620. The amount of the adjusting entry for uncollectible accounts should be​ for:
Business
2 answers:
nevsk [136]3 years ago
5 0

Answer:

$3,310

Explanation:

An aging of accounts receivable indicates that the amount of uncollectible accounts is​ $3,910.

The Allowance for Uncollectible Accounts prior to adjustment has a debit balance of​ $600.

The Accounts Receivable balance is​ $44,620.

The amount of the adjusting entry for uncollectible accounts should be​ for: $3,910 - $600 = $3,310

Generally, as a rule - Allowance for Uncollectible Accounts has a credit balance, which will be subtracted from the amount estimated to be uncollectible, to get the amount of the adjusting entry.

forsale [732]3 years ago
5 0

Answer:

The question is missing below options:

A) $600.

B) $3,310.

C) $3,910.

D) $4,510.

The correct option is D

Explanation:

The amount of uncollectible debt of $3910 indicates that the allowance for uncollectible debt account  should show a credit balance of $3910 at the end of the period.

Without mincing words, since the allowance for uncollectible debts account already has a debit of $600 already, the adjusting entry needed  is a figure that would change the debit balance of $600 to a credit balance of $3910.

Intuitively, a credit entry of $600 would reverse the earlier debit balance and another credit entry of $3910 would guarantee a final credit balance of $3910,as a result the total credit entries passed equal $4510          ($3910+$600).

The amount of of the adjusting entry for uncollectible accounts should be for $4510

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Answer:

profit sharing

Explanation:

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6 0
2 years ago
Share an example from your life where you had to make a choice knowing that you are giving up opportunities for doing or gaining
Alik [6]

Explanation:

I would have to give up my dream of getting an economics degree because I felt that an economics degree would give me a more stable future. My parents always believed that, after finishing my education, I should pursue my acting career.

I'd make another choice, since I'm happy with my job now. If I choose to perform, I should have struggled a lot.

Consumers C make decisions because each action has a risk cost. You can't do two things at the same time and must choose one.

Individual producers / nations must choose what they are to produce, how they are to produce and how much they are to produce, as their resources are limited and their alternatives are being applied.

7 0
3 years ago
Is Cab Service in the UK is Excellent Choice for Transport?
Andreas93 [3]

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Learn more in: brainly.com/question/23627598

6 0
2 years ago
In a balanced balance sheet, if liabilities are $2,000 and owner’s equity is $3,300, what must assets be ____?
TEA [102]

Answer:

5300

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3 0
2 years ago
A company has outstanding 20-year noncallable bonds with a face value of $1000, and 11% annual coupon, and a market price of $1,
Helen [10]

Answer:

8% and 4.8%

Explanation:

In this question, we use the Rate formula which is shown in the spreadsheet.  

The NPER represents the time period.  

Given that,  

Present value = $1,294.54

Future value or Face value = $1,000  

PMT = 1,000 × 11% = $110

NPER = 20 years

The formula is shown below:  

= Rate(NPER;PMT;-PV;FV;type)  

The present value come in negative  

So, after solving this,  

1. The pretax cost of debt is 8%

2. And, the after tax cost of debt would be

= Pretax cost of debt × ( 1 - tax rate)

= 8% × ( 1 - 0.40)

= 4.8%

6 0
3 years ago
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