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
Makovka662 [10]
3 years ago
9

Under the allowance method, writing off an uncollectible account Group of answer choices affects both balance sheet and income s

tatement accounts. is not acceptable practice. affects only balance sheet accounts. affects only income statement accounts.
Business
1 answer:
marishachu [46]3 years ago
4 0

Answer:

Under the allowance method writing of uncollectible account will only affect Balance sheet accounts

Explanation:

Uncollectibles when write of under allowance method will create reduce account receivable one side and also results in reduction of allowance for receivable on other side created previously, thus having impact only on balance sheet:

Entry will be:

Dr: Allowance for Doubtful Debts (Balance Sheet Item)  

Cr: Account Receivable (Balance Sheet Item)

You might be interested in
Use two correctly labeled side-by-side graphs of the loanable funds market in the United States and China to show how a higher i
dusya [7]

Answer:

Figure is given below.

Explanation:

The graph of United states and china is as follows :

3 0
3 years ago
When you seek to define an issue, you should try to frame it in positive terms.
zloy xaker [14]
The answer would be True.
3 0
3 years ago
What is known as a capital income,with examples​
OLEGan [10]

Answer:

Capital income is income generated by an asset over time, rather than from work done using the asset.

Explanation:

Capital income is the income generated through the possession of wealth, such as rental income, gains from selling an asset, dividend income, certain interest income, proceeds from a life insurance contract, and the share of profits of an investment fund.

5 0
3 years ago
Read 2 more answers
A customer with a long option position sells an option in the same series. This is referred to as a:(A)Opening sale(B)Opening pu
Lelechka [254]

Answer:

Opening purchase

Explanation:

This happens when a buyer buys a stock or security with the aim of sustaining or increasing the long position in the stock market.

Buy to open informs the participant about the opening of new market rather than  closing out on the old market.This remains open until an opposition trade takes place.

It is good to also note that a position can be open and close within a very short period.

4 0
3 years ago
Which is an example of a marketing function for a business? 1.Preparing income statements for the business 2. Obtaining new prod
Alex_Xolod [135]

Answer:

4. Creating a banner ad for the company website

6 0
3 years ago
Read 2 more answers
Other questions:
  • About eight months ago, 14-year-old shelley went on a drastic weight-loss diet that caused her to drop from 110 to 80 pounds. al
    13·1 answer
  • Coronado Industries had the following inventory transactions occur during 2018:  Unit Cost/unit 2/1/18Purchase56$503/14/18 Purch
    14·1 answer
  • Define Justice as it relates to Business
    9·1 answer
  • Luis mayo is an accountant at ralston purina. however, he is currently working with a group to determine the feasibility of a ne
    9·1 answer
  • Chik’s Chickens has accounts receivable of $6,333. Sales for the year were $9,800. What is its average collection period?
    14·1 answer
  • Alfalfa Company developed the following information about its inventories in applying the lower-of-cost-or-market (LCM) basis in
    7·1 answer
  • During soil testing, soil samples are obtained from
    13·1 answer
  • If an increase in income results in a leftward shift of the demand curve for product X, then X is a (anGroup of answer choices(a
    9·1 answer
  • What is the role for a clothing factory
    9·1 answer
  • Andrew Industries purchased $165,000 of raw materials on account during the month of March. The beginning Raw Materials Inventor
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!