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
faltersainse [42]
3 years ago
6

Nichols Company uses the percentage of receivables method for recording bad debts expense. The accounts receivable balance is $2

00,000 and credit sales are $1,000,000. Management estimates that 4% of accounts receivable will be uncollectible. What adjusting entry will Nichols Company make if the Allowance for Doubtful Accounts has a credit balance of $2,000 before adjustment?
Business
1 answer:
lora16 [44]3 years ago
3 0

Answer:

bad debt expense 6,000 debit

allowance for uncollectible amounts 6,000 credit

Explanation:

expected allowance balance:

account receivable x expected uncollectible amount

200,000 x 4% = 8,000

currently the allowance balance is 2,000

so the amount of the adjustment will be to move the balance to 8,000 from 2,000:  adjusting entry for 6,000

You might be interested in
True or False: Without engaging in international trade, Freedonia and Lamponia would have been able to consume at the after-trad
solniwko [45]

"Without engaging in international trade, Freedonia and Lamponia would have been able to consume at the after-trade consumption bundles" is FALSE.

<u>Option:</u> B

<u>Explanation:</u>

Specialization refers to countries' propensity to focus in certain items they exchange for other commodities, rather than to manufacture all the consumer goods on their own. As the PPF production possibilities frontier displays that production is impractical, Freedonia and Lamponia had to engage in international trade.

Both countries are able to consume the goods they produce.When a country is skilled in manufacturing a good, it can manufacture this good at a lower cost of opportunity than its trading nation. For this comparative advantage, both countries benefit from competing and trading with one another.

7 0
3 years ago
Salon Products recently introduced a new all-natural shampoo. Logan, director of new product development, has just reviewed the
diamong [38]

Answer:

Acknowledge the team for their effort.

Explanation:

By acknowledging the effort of the team that worked on the shampoo, the members of the team are encouraged and motivate, knowing that their efforts are accepted. After so doing, Logan can now tell the team about the dismal results which isn't supposed to have happened and the motivation earlier would have let the team members open to innovation.

Cheers.

3 0
2 years ago
Helen Weeks has worked for Bonne Consulting Group (BCG) as the executive secretary in the administrative department for nearly 1
elena55 [62]

Answer:

1.)  The internal controls which were missing are from the separation of responsibilities. There must have been in place an inner regulator were an individual works with advisers while alternative individual or unit take-care of the expense procedure, then somebody else allow expenses and then office should distribute the expenditures. There is an absence of inner controls as you can realize that the corporation amalgamated with a larger corporation and no one measured other accounts such as Jackson and company any longer.

2.)  With the lack of control, this offered Helen the chance to effect the fraud. With this presence said, she was talented to emulate sign receipts and spend the retailer’s expenditures. She were also the one in responsibility of office the initial and final of accounts. In short, she had several accountabilities that should have remained separated up better and had diverse individuals for the separations of the job. In addition, she needed a bank description from the corporation where she was capable to put the expenditures and pay individual expenditures.

3.)  The method this fraud might be noticed is the inspection squad can ask the bank for reports. They might also conference sellers. The accounting section should have ended sure they were doing the due diligence in dealers and corresponding the receipts with statements and expenditures.

5 0
3 years ago
______ effect happens when the place a product was manufactured influences how consumers perceive the product.
stiks02 [169]

Effect happens when the place a product was manufactured influences how consumers perceive the product.  Country of Origin

What benefits do consumer product firms derive by marketing internationally?

Competition with other companies can be maintained. Sales and profits can be enhanced. Life cycles of products can be extended.

Country of origin:

Country of origin represents the country or countries of manufacture, production, design, or brand origin where an article or product comes from. For multinational brands, CO may include multiple countries within the value-creation process.

Learn more about country of origin:

brainly.com/question/19048062

#SPJ4

8 0
1 year ago
Fev and Company has a projected balance sheet that includes the following accounts. Cash $ ? Marketable securities 228,000 Accou
Thepotemich [5.8K]

Answer:

C. $ 344,000

Explanation:

In the balance sheet, the assets, liabilities, and stockholder equity is recorded. In this the accounting equation is used which is shown below:  

Total assets = Total liabilities + stockholder equity  

which equals to

Total assets = $1,570,000 + $2,382,000

                    = $3,952,000

And, the total assets equal to

Total assets = Cash + Marketable securities + Accounts receivable + Inventory + Non-current assets

$3,952,000 = Cash + $228,000 + $860,000 + $490,000 + $2,030,000

$3,952,000 = Cash + $3,608,000

So, the cash would be

= $344,000

7 0
3 years ago
Other questions:
  • Mark is interested in becoming a bio
    7·1 answer
  • Sarah is watching a baseball game and accesses the internet to look up stats for one of the players. In terms of integration of
    6·1 answer
  • Suppose that an economy's labor productivity and total worker-hours each grew by 3 percent between year 1 and year 2. we could c
    6·1 answer
  • What would be the cash balance in the general ledger if a credit of $2,000 is posted to the cash account that had a beginning ba
    13·1 answer
  • Kenneth, the plant manager, was talking with another manager about Brendan, the lead engineer in the corporate R &amp; D departm
    14·1 answer
  • The annual profit from an investment is $ 25 comma 000 each year for 5 years and the cost of investment is $ 75 comma 000 with a
    12·1 answer
  • Which type of markup takes into account the total costs of running the company not just the wholesale cost of the product so tha
    6·2 answers
  • Assume you are given the following relationships for the Haslam Corporation: Sales/total assets 1.6 Return on assets (ROA) 3% Re
    9·1 answer
  • Solutions Group managers suggest that clients consider doing a resonance test when designing advertising, because this will help
    12·1 answer
  • Suppose economists observe that an increase in government spending of $15 billion raises the total demand for goods and services
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!