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
Zanzabum
3 years ago
11

Under the allowance method, a.bad debt expense is recorded when specific customer accounts are determined to be uncollectible. b

.the allowance account and estimates are used. c.the allowance account is used, but estimates are not. d.primary users are small companies with few receivables.
Business
1 answer:
solniwko [45]3 years ago
6 0

Answer:

B) the allowance account and estimates are used.

Explanation:

When a company uses the allowance method, it will record an adjusting entry for the losses it anticipates from bad credits given to customers. The bad debts expense account is debited and the allowance for doubtful accounts (contra asset) is credited. Then as time passes and the amount of bad debts is  exactly determined, another adjusting entry is necessary depending whether the estimate was correct or not, or if it was under or over estimated.

You might be interested in
Define interest rates and explain how they have changed since March 2020. What impact have these changes had on businesses?
Masja [62]

Answer:

When interest rates change, there are real-world effects on the ways that consumers and businesses can access credit to make necessary purchases and plan their finances. It even affects some life insurance policies. This article explores how consumers will pay more for the capital required to make purchases and why businesses will face higher costs tied to expanding their operations and funding payrolls when the Fed changes the interest rate. However, the preceding entities are not the only ones that suffer due to higher costs, as this article explains.

Explanation:

5 0
3 years ago
Purchasing office supplies on account will: Multiple Choice Not change assets. Increase assets and decrease liabilities. Increas
Kobotan [32]

The correct option is C - Increase assets and increase liabilities

<u>Explanation:</u>

When anorganization purchases office supplies on account then it becomes essential to record such supplies as supplies on hand. Generally, in a business organization, the supllies on hand are used up within the span period of one year which means that they are to be recorded as current asset in the financial statement ( balance sheet). As no cash has been paid to merchandise, so it increases the liabilities also.

Therefore, it will increase the current assets and current liabilities.

3 0
3 years ago
Which of the following is recorded in a country’s balance of payments accounts?
nalin [4]

Answer:

Considering there are no options to pick from, the following accounts are recorded in a country’s balance of payments accounts:

1. the current account

2. the capital account

3. the financial account.

Explanation:

Therefore;

1. The current account is part of the country’s balance of payments accounts to define the inflow and outflow of goods and services into a particular country.

2. The capital account is also a country’s balance of payments account that documents all the international capital transfers of a country.

3. The financial account is part of the country’s balance of payments accounts where the international monetary flows concerning the investment in the business, real estate, bonds, and stocks are fully recordsd.

3 0
3 years ago
Gambrinus is a large company that owns and operates the breweries that produce Moosehead Lager, Bridgeport Ale, Pete's Wicked Al
svlad2 [7]

Answer:

The answer is departmentalization by product.

Explanation:

Departmentalization refers to the divisions of different work areas. Each one specializes in a specific job, most companies use departmentalization and train their employees, making them specialists in their role.

The main objective of departmentalization is to specialize in activities and facilitate processes while maintaining control in the organization. The departmentalization is usually divided by product, function, process, project, clients, and territory.

For example, in the case of departmentalization by-products, it is used by large companies to divide the area where the product is developed and those in charge of product delivery, thus obtaining better control, organization, and production.

<em>I hope this information can help you.</em>

7 0
3 years ago
The Hi-Stakes Company has a number of importing and exporting transactions. Importing activities result in payables and exportin
Lorico [155]

Answer:

The Hi-Stakes Company

a. If the direct exchange rate increases, the dollar strengthens relative to the other currency.

b. If the indirect exchange rate increases, the dollar also strengthens relative to the other currency.

Explanation:

When the exchange rate increases, it means that more of the other currency is required in order to embark on importing and exporting transactions.  However, the increases will weaken the ability of the importing currency to afford the dollar-based goods, which have then being made more expensive.

3 0
2 years ago
Other questions:
  • International Imports (I2) pays an annual dividend rate of 10.20% on its preferred stock that currently returns 13.67% and has a
    10·1 answer
  • Diane, a police officer, stops Tim's car for a traffic offense. While talking to Tim, she shines a flashlight into the passenger
    15·1 answer
  • Banking is a general term of what
    5·1 answer
  • The local supermarket buys lettuce each day to ensure really fresh produce. Each morning any lettuce that is left from the previ
    8·1 answer
  • Betty needs to understand the interest rate for her savings account in order to calculate how much the account will earn in inte
    15·1 answer
  • What is the amount of money you still owe to their credit card company called?
    10·1 answer
  • Which of the following statements is CORRECT?
    6·1 answer
  • Oxidants such as hydrogen peroxide have the ability to release?
    8·1 answer
  • For investors, changes made to the tax code by the government are known as a form of:______.
    15·1 answer
  • purchased goods for Rs 10000 and paid Rs 4000 in cash. The balance amount is paid through cheque after receiving discount Rs 500
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!