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lidiya [134]
3 years ago
15

The Reingold Hat Company uses the allowance method to account for bad debts. During 2018, the company recorded $800,000 in credi

t sales. At the end of 2018, account balances were: Accounts receivable, $120,000; Allowance for uncollectible accounts, $3,000 (credit). If bad debt expense is estimated to be 3% of credit sales, the appropriate adjusting entry will include a debit to bad debt expense of:
Business
1 answer:
olasank [31]3 years ago
4 0

Answer:

$24,000

Explanation:

Since in the question it is given that the  3% of credit sales is considered to be a bad debt expense

where,

Credit sales is $800,000

And, the estimated percentage is 3%

So by considering this above information, the amount debited to bad debt expense is

= $800,000 × 3%

= $24,000

All the other information i.e to be given is not relevant. Hence, ignored it

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Ugo [173]

Cost of equity is calculated as -

Cost of equity = Risk free return + Beta * (Market risk - Risk free return)

Given,

Risk free return = 5.3 %

Market risk = 12 %

Beta = 1.05

Cost of equity = 5.3 % + (1.05*(12-5.3%))

Cost of equity = 12.335 % or 12.24 %

6 0
3 years ago
When a contract is deemed against generally accepted public policy, the courts will determine the agreement to be _____?
Evgesh-ka [11]

Based on the statement above, the courts will determine the agreement to be likely as unenforceable and it is likely to be not voided. The agreement is likely to be impossible to be enforced by the higher authorities thought it is not voided or considered to be valid.

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Answer:

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4 0
2 years ago
Sorenson’s march 2020 video for marriott employees exhibited characteristics of ________ leadership.
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5 0
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kicyunya [14]

Answer:

Since it is the supreme Court that has given this decision, there is nothing much an individual congressman can do alone or even a president.

However, since anti trust laws do not cover those which are not trade or Commerce in nature, a congressman can propose to inact new laws that cover Sports related economic activities. Or they can pass a new law to include the sports related financials in the anti trust laws. But this could change the structure and the purpose of anti trust laws.

Explanation:

6 0
2 years ago
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