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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.

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Answer:

The management of the flow of goods and services, involved the movement and storage of raw materials of work-in-process inventory and of finished good as well as end to end other fulfilment from point of origin to point of consumption.

8 0
2 years ago
Pompeii, Inc., has sales of $54,500, costs of $24,800, depreciation expense of $2,700, and interest expense of $2,450. If the ta
inysia [295]

the interest equals 47009 because the numbers added together

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2 years ago
Chevron identified their desired outputs and then worked backward by examining the supporting processes. They used a holistic ap
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Answer:

BPR

Explanation:

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7 0
3 years ago
A(n) _____ is a carefully crafted document that reflects the performance specifications of the project deliverables.
patriot [66]

A(n) _____ is a carefully crafted document that reflects the performance specifications of the project deliverables  .A project scope.

What is the project scope?

Project scope is the part of project planning that involves determining and documenting a list of specific project goals, deliverables, tasks, costs and deadlines. The documentation of a project's scope is called a scope statement or terms of reference.

Project scope importance:

Project scope is a part of the project planning process that documents specific goals, deliverables, features, and budgets. The scope document details the list of activities for the successful completion of the project. The scope is defined by understanding the project requirements and the client's expectations.

.What should a project scope include?

Project scope is a detailed outline of all aspects of a project, including all related activities, resources, timelines, and deliverables, as well as the project's boundaries.

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3 0
2 years ago
Suppose that the U.S. government decides to charge cola consumers a tax. Before the tax, 45 million cases of cola were sold ever
Genrish500 [490]

Answer:

Tax on a case of cola is $4 per case.

The burden that falls on consumers is $1 per case.

The burden that falls on producers is $3 per case

False. This is due to the fact that producers already carry a greater share of the tax burden.

Explanation:

Tax on a case of cola = Amount that consumers pay after the tax has been charged - Amount producers receive = $7 - $3 = $4 per case

Burden on consumers = Amount consumers pay after the tax has been levied - Amount consumers pay before tax was levied = $7 - $5 = $1 per case

Burden on producers = Tax on a case of cola - Burden on consumers = $4 - $1 = $3 per case

False. This is due to the fact that producers already carry a greater share of the tax burden.

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2 years ago
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