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jonny [76]
3 years ago
5

At December 31, Gill Co. reported accounts receivable of $238,000 and an allowance for uncollectible accounts of $600 (credit) b

efore any adjustments. An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 3% of accounts receivable. The amount of the adjustment for uncollectible accounts would be:
Business
1 answer:
Firlakuza [10]3 years ago
5 0

Answer: $7,740

Explanation:

Given, At December 31, Accounts receivable = $238,000

Allowance for uncollectible accounts = 3% of (accounts receivable)

∴ Allowance for uncollectible accounts = 3% of ($238,000 )

=$(0.03 ×238,000)                [3% = 0.03]

= $ (7140)

= $7,140

Allowance for uncollectible accounts (credit) before any adjustments= $600

The amount of the adjustment for uncollectible accounts = Allowance for uncollectible accounts +  $600

= $7,140 +  $600

= $7,740

Hence, The amount of the adjustment for uncollectible accounts would be: <u>$7,740.</u>

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c. Marketing information system​ (MIS)

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3 years ago
Read 2 more answers
Dave and his partner are studying the strengths and weaknesses of their construction business, Ajax Construction, as well as res
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Answer:

SWOT Analysis.

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Dave and his partner are studying the strengths and weaknesses of their construction business, Ajax Construction, as well as researching the opportunities and threats in the external environment. Dave and his partner are conducting a SWOT analysis. In SWOT analysis, we analyse our strengths and weaknesses, which comes from inside and we evaluate outside environment which can pose opportunities and threats on us. SWOT analysis is one the basic tool which can tell us what needs to be corrected and where we have to perform better and what segments we should serve, what new product we should enter in our portfolio. It also tell us what business we could be in and what business we should be in.

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Suppose that you just purchased 150 shares of XYZ stock for $60 per share. a. If the initial margin requirement is 71.00%, how m
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$2,610

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