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
Brrunno [24]
3 years ago
14

A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the company's una

djusted trial balance reported the following selected amounts: 375,000 debit Accounts receivable 500 debit Allowance for uncollectible accounts 800,000 credit Net Sales All sales are made on credit. Based on past experience, the company estimates that 0.6% of net credit sales are uncollectible. What amount should be debited to Bad Debts Expense when the year-end adjusting entry is prepared? a.$1,275 b.$1,775 c.$4,500 d.$4,800 e.$5,500
Business
1 answer:
Maru [420]3 years ago
8 0

Answer:

Option E is the correct answer

5300$ is the correct answer.

Explanation:

Credit Sales = $800000

Uncollectible net sales = $800000*0.6% = $4800

Hence, balance in Allowance for uncollectible accounts after adjustment should be $4800 credit

Balance already in the account = $500 debit

Hence, adjustment required is $5300 credit

You might be interested in
A retail outlet has received complaints from customers that checking prices, finding out about stock, and checking out takes too
Scilla [17]
Hello
the answer is b
have a nice day
3 0
3 years ago
Read 2 more answers
The task of securing all necessary personnel, space, and financing; supervising all production and promotion efforts; fielding a
Jlenok [28]

Answer:

producer

Explanation:

The producer of a movie, theater play, sitcom, etc., is the person in charge of securing everything that is needed in order for the movie, play, etc., to be properly carried out. That means he/she is responsible for gathering the necessary funds and paying salaries and all other expenses. The producer is also responsible for dividing the money generated by the movie, play, etc., and distributing it to the investors.

5 0
3 years ago
You are the owner of a Comfort Inn and would like to hire a new general manager. In terms of preventing possible agency problems
Elanso [62]

Answer:

To avoid possible agency problems, <em>profit sharing</em> should be included in your offer

Explanation:

<em>Profit sharing</em> has to be included to ensure trust and to also gain the new general manager's trust

3 0
3 years ago
Swifty Corporation has 46,500 shares of $13 par value common stock outstanding. It declares a 15% stock dividend on December 1 w
Olin [163]

Answer:

Common stock dividend distributable = Par * Number of shares * % dividend

= 13 * 46,500 * 15%

= $90,675

Stock Dividend = Number of shares * market price * % dividend

= 46,500 * 18 * 15%

= $125,550

Date          Account Title                                                 Debit               Credit

Dec, 1        Stock Dividend                                          $125,550

                 Common Stock Dividend Distributable                            $90,675

                  Paid in Capital in excess of Par-                                       $34,875

                  Common stock

Date          Account Title                                                 Debit               Credit

Dec, 31      Common Stock Dividend Distributable     $90,675

                 Common Stock                                                                  $90,675

4 0
3 years ago
A small manufacturing firm is currently negotiating with a union, but negotiations are not going well. The firm is concerned abo
padilas [110]
I need answer choices
7 0
3 years ago
Other questions:
  • A(n)______________________ aligns strategic goals, operations effectiveness, reporting, and compliance objectives. a. operationa
    5·2 answers
  • There are different standards for due process in civil and criminal cases. True or False
    6·2 answers
  • What will keeping a running list of new words help you do?
    15·1 answer
  • Soar Incorporated is considering eliminating its mountain bike division, which reported an operating loss for the recent year of
    7·1 answer
  • Can a heat pump switch from heating to cooling and from cooling to heating automatically?
    11·1 answer
  • Computing and Assessing Plant Asset Impairment On July 1, Arcola Company purchases equipment for $330,000. The equipment has an
    6·1 answer
  • Now, consider the situation in which Noah wants to earn a return of 7%, but the bond being considered for purchase offers a coup
    5·1 answer
  • What is the meaning of employee evaluation ​
    14·2 answers
  • Why is it important to find something you’re passionate about when finding<br> a career?
    11·1 answer
  • Click this link to view O'NETS Wages and Employment section for Licensing Examiners and Inspectors. According
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!