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
Vadim26 [7]
3 years ago
12

Assume that Simple Co. had credit sales of $258,000 and cost of goods sold of $158,000 for the period. Simple uses the aging met

hod and estimates that the appropriate ending balance in the Allowance for Doubtful Accounts is $3,800. Before the end-of-period adjustment is made, the Allowance for Doubtful Accounts has a credit balance of $330. What amount of Bad Debt Expense would the company record as an end-of-period adjustment?
Business
1 answer:
Sphinxa [80]3 years ago
3 0

Answer: The amount of bad debt expense the company would record would be $3,470.

Explanation: Bad debt expense is an estimate of accounts receivable that is deemed as uncollectible while allowance for doubtful accounts is a balance sheet allowance account that warehouses the total balance of accounts receivable that is deemed irrecoverable.

In this scenario, Simple Co. estimated, using the aging method, that the allowance for doubtful accounts is $3,800. However, it had a credit balance of $330 in the same account. The reinstate the allowance account to $3,800, $3,470 has to be adjusted for by debiting bad debt expense and crediting allowance for doubtful account.

You might be interested in
Billy Thornton borrowed $140,000 at a rate of 7.25%, simple interest, with interest paid at the end of each month. The bank uses
kolbaska11 [484]

Answer:

$845.83

Explanation:

The computation of the interest is shown below:

= Principal × rate of interest × number of days ÷ (total number of days in a year)  

= $140,000 × 7.25% × (30 days ÷ 360 days)

= $845.83

Simply we applied the simple interest formula by multiplying the principal, interest rate and the time period so that it can arrive with the correct amount

3 0
3 years ago
The Nelson Company's radio division currently is purchasing transistors from the Charlotte Co. for $3.50 each. The total number
8_murik_8 [283]

Answer:

The correct answer is C.

Explanation:

Giving the following information:

The Nelson Company's radio division currently is purchasing transistors from the Charlotte Co. for $3.50 each. The total number of transistors needed is 8,000 per month. Nelson Company's electronics division can produce the transistors for a cost of $4.00 each and they have plenty of capacity to manufacture the units. The $4 is made up of $3.25 in variable costs, and $0.75 in allocated fixed costs.

Because there is unused capacity, we will not have into account the fixed costs.

Unitary cost= $3.25

It is more convenient to produce in house. The indifference price is $3.50.

6 0
3 years ago
It is the beginning of the football season for the local college team. Martha redecorates the Coffee Collective with a theme tha
Mamont248 [21]

Answer:

Brand association

Explanation:

Brand equity refers to the value that a product receives from associating with a renowned brand. Brand association is one of the components of brand equity. Brand association refers to those images or symbols that customers identify with a brand.

Organizations try to instill positive image in the minds of customers through brand association. Here, Martha redecorates coffee collective with pictures of players and coaches as way to promote the team as audience will be be able to connect with the team through the images.

5 0
3 years ago
Explain how consumer tastes and preference changes demand for a product
k0ka [10]

Answer: Because  12 = 13 which is not aloud which ends up becoming 14 but is acutally 923

Explanation: Hope that helps1

8 0
3 years ago
"A(n) _________________________ involves the free flow of products and factors of production among member-countries and the adop
melisa1 [442]

Answer:

"An economic and monetary union involves the free flow of products and factors of production among member-countries and the adoption of a common external trade policy, but it also requires a common currency, harmonization of members tax codes, and a common monetary and fiscal policy."

Explanation:

A monetary and economic union is a common market with a common currency. Monetary unions have not necessarily created a common market; in fact, the only monetary and economic union in the world is the Eurozone of the European Union, made up of members of the Union who have adopted the euro as their state currency. It is considered one of the most advanced stages of economic integration.

3 0
2 years ago
Read 2 more answers
Other questions:
  • A person must have how much driving experience to teach a beginner?
    15·1 answer
  • During the recession of 2007-2009, the U.S. economy was experiencing a decrease in home prices and consumer wealth, a credit cri
    10·1 answer
  • In a make-or-buy decision, a. the company must choose between expanding or dropping a product line. b. the company must choose b
    9·1 answer
  • In this business structure a common view of a firm is as a hierarchy organized around a set of functions. Each group has a core
    12·1 answer
  • Century Manufacturing developed the following per-unit standards for its product: 4 pounds of direct materials at $6.40 per poun
    8·1 answer
  • Charles Underwood Agency Inc.’s FCFs are expected to grow at a constant rate of 3.90% per year in the future. The market value o
    10·1 answer
  • On July 15, Piper Co. sold $24,000 of merchandise (costing $12,000) for cash. The sales tax rate is 4%. On August 1, Piper sent
    9·1 answer
  • Liquidity is best defined as the ease of converting an asset into cash. the direct exchange of goods and services for other good
    12·1 answer
  • On her way to a concert, Hermione stopped at a restaurant for dinner. In her purse, she had 12 bills worth a total of $40. She h
    11·1 answer
  • Which internal control procedure is violated when the cashier at the checkout stand also records the daily receipts in the journ
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!