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Ahat [919]
3 years ago
6

Information related to Mingen back Company for 2015 is summarized below: Instructions: A. What amount of bad debt expense will M

ingen back Company report if it uses the direct write-off method of accounting for bad debts? B. Assume that Mingen back Company estimates its bad debt expense to be 2% of credit sales. What amount of bad debt expense will Mingen back record if it has an Allowance for Doubtful Accounts credit balance of $4,000? C. Assume that Mingen back Company estimates its bad debt expense based on 6% of accounts receivable. What amount of bad debt expense will Mingen back record if it has an Allowance for Doubtful Accounts credit balance of $3,000? D. Assume the same facts as in (c), except that there is a $3,000 debit balance in Allowance for Doubtful Accounts. What amount of bad debt expense will Mingen back record? E. What is the weakness of the direct write-off method of reporting bad debt expense?
Business
1 answer:
Alex Ar [27]3 years ago
5 0

Answer:

jhgiojhugfvcpokjhgfuhjkm,l;/;.l,kmjbh

Explanation:

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MissTica

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<u>Explanation: </u>

Bank run means many customers of the bank withdraw their deposits due to the fear that the bank might become insolvent. When many customers withdraw their funds then the bank might not be able to meet the withdrawals with the available funds.

This further increases the risk of the bank to default when all the customers withdraw their deposits. This is because the banks hold only little amount as cash in hand while the rest of the bank's wealth is invested in long term assets.

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3 years ago
The optimal solution to a linear programming model that has been solved using the graphical approach:______.
wlad13 [49]

Answer:

Option d would be the appropriate choice.

Explanation:

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5 0
3 years ago
Why did Guardbark want people to not disturb the trees?
vichka [17]

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I found this answer on google so I hope this helps.

3 0
3 years ago
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Temka [501]

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3 0
2 years ago
You bought 200 shares of Stock A at $23.00 per share 6 months ago. It is now worth $47 per share. What was the percent of increa
Nat2105 [25]

Answer:

51 % increase

Explanation:

Stock A price= $23.00

Stock A price after 6 months= $47.00

Increase in price of Stock A= $47 - $23

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Percentage increase in stick price = <u>$24</u>  x  100%

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                                                     = 51%

The percentage increase in the price of Stock A is 51%

Cheers

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3 years ago
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