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
Who might benefit from a Traditional Economy?
nikitadnepr [17]

Answer:

722

Explanation:

7272

4 0
3 years ago
Corinne believed in solving issues between managers and employees by talking and finding solutions together, so when a group of
FromTheMoon [43]

The correct answer is 2;  Corinne would use the process of integration and sit everyone down together to talk it through.

Further Explanation:

Since this type of issue needs to be addressed immediately, Corinne would need to sit everyone down and talk it through to get to the bottom of the sexual advances. When she does this it is called the process of integration. During this process, she will discuss the employees concerns and take their statements.

During the discussion, the employees will be guaranteed anonymity. The complaints will all be taken seriously, and an investigation will be started immediately. The supervisor may be put on administration leave while the investigation is ongoing.  

Learn more about sexual harassment in the workplace at  brainly.com/question/10185961

#LearnwithBrainly

7 0
3 years ago
The following information has been taken from the ledger accounts of Bridgeport Corporation.
stealth61 [152]

Answer:current balance of retained earnings=$206,000

Explanation:

Net Retained Earnings =  Total Income since Incorporation−

Total Cash Dividend Paid−  Value of Stock Dividend distributed

Where

cash dividends distributed among the stakeholders= $55,000

 value of stock dividends distributed  = $31,000

Total Dividend Distributed = $86,000

Net Retained Earnings = $292,000 -($86,000)=$206,000

5 0
3 years ago
Bad Debts account has a credit balance of $8,000 before the adjusting entry for bad debts expense. After analyzing the accounts
White raven [17]

Answer:

$14,300

Explanation:

Based on the information given we were told that the​ management of the company estimated that the amount in the uncollectible accounts will be the amount of $14,300 which means that the amount of $14,300 will be the balance of the Allowance for Bad Debts that should be reported on the company balance​ sheet.

5 0
3 years ago
Park Sung Inc. is a fictional South Korean manufacturer of refrigerators. The company produces at its manufacturing plant in Bus
Murrr4er [49]

Answer:

The answer for each requirement is given separately below.

Explanation:

What is the economic production quantity (EPQ)?

EPQ = ((Annual Requirement * setup cost *2)/Carrying cost per unit)^(1/2)

         = ((30,000 * 50 *2)/3^(1/2)

         = 1000 Units

a. What is the average inventory level for this optimum production quantity?

Average Inventory level = EPQ/2 = 500 units

b. How many production setups would there be in a year?

Production setups = Annual Usage /EPQ = 30 set ups

C. What is the optimal length of production run in days

length of production = Total Requirement/production per day

                                   = 30,000/275

                                   =110 days approx

d. What would be the savings in annual inventory Cost if setup costs can be reduced to US$40 per setup?

If set up cost reduce to $40  than EPQ = 895

So Set up cost = 30,000/ 895 * 40 = 1,360

Carrying cost = 883/2 *3                  = 1,325

Total Cost                                          = $ 2,685 -A

If set up cost  $50  than EPQ = 1000

So Set up cost = 30,000/ 1000 * 50   = 1,500

Carrying cost = 1000/2 *3                  = 1,500

Total Cost                                          = $ 3,000- B

Saving = B-A = 315 Dollars

4 0
3 years ago
Other questions:
  • Keyshawn is a player on a professional football team. Because of this, his play every week is scrutinized by fans and media, as
    15·2 answers
  • Tim is the ceo of doc.com, an information search internet company. a manager comes in saying that he's been trying to get the in
    5·1 answer
  • Present valuelong dash—Mixed streams   Consider the mixed streams of cash flows shown in the following​ table,
    13·1 answer
  • Two mutually exclusive alternatives are being considered for the environmental protection equipment at a petroleum refinery. One
    7·1 answer
  • Coastal Shores Inc. (CSI) was completely destroyed by Hurricane Fred on August 5, 2021. At January 1, CSI reported an inventory
    9·1 answer
  • On January 1, Year 1, Willette Company sold $240,000 of 6% ten-year bonds. Interest is payable semiannually on June 30 and Decem
    10·1 answer
  • When Ernesto needed to learn what his employees really think about his company's new pension plan, he approached Vonnie, a long-
    10·1 answer
  • The T-account showing the manufacturing overhead activity for Alfred Corp. for 2020 shows a debit of $195,000 and a credit of $2
    7·1 answer
  • The general ledger journal entry in the General Fund to record actual expenditures and reversal of the associated encumbrance wo
    6·1 answer
  • 2. How important it is to create a prototype before launching a certain product in the market? What is the
    6·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!