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aalyn [17]
3 years ago
5

The allowance method of estimating uncollectible accounts receivable based on an analysis of receivables shows that $839 of acco

unts receivable are uncollectible. Allowance for Doubtful Accounts has a debit balance of $198. The adjusting entry at the end of the year will include a credit to Allowance for Doubtful Accounts in the amount of ______.
Business
1 answer:
In-s [12.5K]3 years ago
6 0

Answer:

$1,037

Explanation:

Allowance for doubtful accounts is a contra asset account that must have a credit balance since it reduces the value of accounts receivable. In this case, since the account had a debit balance of $198, and the ending balance of the account should be $839, then we must credit = $839 + $198 = $1,037

The adjusting entry should be:

December 31, adjusting entry allowance for doubtful accounts

Dr Bad debt expense 1,037

    Cr Allowance for doubtful accounts 1,037

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Instruments had retained earnings of $ 390 comma 000 at December​ 31, 2017. Net income for 2018 totaled $ 220 comma 000​, and di
VashaNatasha [74]

Answer:

The retained earnings should Quartz report at December​ 31, 2018 is $570,000

Explanation:

In this question, we apply the retained earnings equation which is shown below:

Ending retained earnings balance = Beginning retained earning balance + net income - dividend paid

= $390,000 + $220,000 - $40,000

= $570,000

The net income should be added while dividend should be deducted for finding out the ending retained earnings balance

3 0
3 years ago
As lynn is working on writing the text that will be incorporated into a new magazine ad for her company’s line of handbags, she
bulgar [2K]

As Lynn is working on writing the text that will be incorporated into a new magazine ad for her company’s line of handbags, she is engaging in the encoding stage of the communication process.

<h3><u>What is encoding?</u></h3>
  • Humans primarily communicate through encoding and decoding messages. The individual who creates and transmits the message is known as the encoder.
  • The encoder must ascertain how the audience will interpret the message and make necessary changes to ensure that the audience interprets the message as intended.
  • Encoding is the process of converting ideas into language. The message is transmitted by the encoder using a "medium" such a phone call, email, text message, in-person meeting, or other communication method.

Different signals require different levels of conscious thought when they are encoded. The encoder should also care for any "noise"—such as other messages, distractions, or influences—that could obstruct their message.

Know more about encoding with the help of the given link:

brainly.com/question/19586679

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7 0
1 year ago
Milo Clothing experienced the following events during 2016, its first year of operation: 1. Acquired $12,000 cash from the issue
Serga [27]

Answer:

Explanation:

The four transactions  will be recorded in the general journal as follows:

1) Debit cash                 $12,000

             Credit common stock                       $12,000

(To record the sale of common stock)

2) Debit purchases                 $5,600

            Credit   cash                 $5,600

(To record purchase of inventory in cash)

3) Debit cash                 $5,712

           Credit sales                        $3,360

            Credit gross profit              $2,352

(To record the sale of inventory in cash)

4) Debit advertising expenses                   $650

          Credit cash                     $650

(To record the payment of advertising expenses in cash)

5 0
3 years ago
The independent cases are listed below that includes all items relevant to operating activities: Case A Case B Case C Sales reve
Mekhanik [1.2K]

Answer:

Cash flow :

For Case A = $27,450

Case B = $14,000

Case C = $25,000

Explanation:

As per the data given in the question,

                                                                Case A          Case B         Case C

Cash collected from customers            $712,000      $555,000     $97,500

Cash payment to suppliers                  -$40,000      -$25,500      -$65,200

Cash payment for operating expense -$3,750        -$16,000       -$7,300

Net cash provided by operating activities $27,450 $14,000         $25,000

Where,

Cash received from customers = Net sales + dec. in account receivable - inc. in accounts receivable

Cash paid to suppliers = COG sold + inc. in inventory + dec. in accounts payable - dec. in inventory - inc. in accounts payable

Cash paid for operating expense = operating expense - Depreciation + inc. in prepaid expense + dec. in accrued expenses payable - inc. in accounts payable - inc. in accrued expenses payable

6 0
3 years ago
Jason is shopping for a new car. He completes new credit applications at four different dealerships. Will this affect his credit
trasher [3.6K]

Applying for a loan in each of the dealerships he visited will have negative consequences on his credit score.

The credit score is a term to refer to the score that people have toward the financial system. The credit score is a kind of business card for each person regarding their financial life.

One of the most common mistakes people make is when they make multiple credit applications when they intend to buy something because this is a bad practice for their credit score.

For example, if Jason completed credit applications in four different dealers, his score may drop because the entities that are going to lend him the money consider this activity as something negative.

In addition, people who apply for loans in different entities are generally forced to do so because they are denied the possibility of credit, that is, they have an unfavorable history to access a loan.

Learn more in: brainly.com/question/16663880

8 0
3 years ago
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