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
What is money used by a business for a certain venture or initiative
Dennis_Churaev [7]

A business will employ seed capital to fund a specific project or activity. It is the capital raised to start working on a new product or business idea.

<h3>What kind of capital is invested in a business?</h3>

The money a company has on hand to cover both its ongoing expenses and potential future expansion is known as capital. Working capital, debt, equity, and trade capital are the four main types of financial resources.

<h3>What kind of business venture capital is that?</h3>

Venture Capital (VC) is a term used to describe funding given by investors to start-up or small businesses that have a high potential for growth. A venture capital fund is a type of private equity funded by institutional and private investors, including investment banks, insurance providers, and pension funds.

To know more about seed capital visit:-

brainly.com/question/10110060

#SPJ1

7 0
1 year ago
Chipman Sofware recently reported the following amounts in its unadjusted trial balance at its year-end:
gregori [183]

Answer:

What is allowance for doubtful debt?

This represents management's estimate of the amount of accounts receivable that will not be paid by customers. They are amount owed by debtors, whose likelihood of collection is not certain.

1 Bad debts expense Dr   ($18,000 × 0.25%)  $45  

              To Allowance for Doubtful Accounts $45

(Being the bad debt expense is recorded)

2.  Bad debts expense $45        

          ($72 - $27)

              To Allowance for Doubtful Accounts   $45

(Being the bad debt expense is recorded)

3 Bad debts expense    $105      

           ($72 + $33)

           To Allowance for Doubtful Accounts $105

(Being the bad debt expense is recorded)

4 Allowance for Doubtful Accounts $15  

           To Accounts Receivable  $15

(Being the allowance for doubtful accounts is recorded)

Learn more about allowance for doubtful debts here : brainly.com/question/25687295

Explanation:

4 0
2 years ago
Suppose that when a student is caught lying about completing his homework, he is not allowed to participate in afternoon recess
Gala2k [10]
<span>The correct answer should be D. Negative punishment.</span>
4 0
3 years ago
Kamath-Meier Corporation's CFO uses this equation, which was developed by regressing inventories on sales over the past 5 years,
charle [14.2K]

Answer:

$71.5

Explanation:

Inventory forecast is a way of predicting the volume of inventory required to fulfill future orders based on the existing production capacity and other plans relating to production

equation for forecasting inventory = $22 + 0.125 sales

Current sales = $300 million

Annual sales growth rate =32%

sales for next year = 300 + (300*32%)

300 + 96= $396 million

Applying the equation

Inventory = $22 + (0.125*396)

$22 + $49.5 = $71.5 million

7 0
3 years ago
A sample of gas occupies 575 ml at 1.50 atm and 125 degrees celsius. if temperature is changed to 20 degrees celsius and volume
Anastaziya [24]

A sample of gas occupies 575 ml at 1.50 atm and 125 degrees Celsius. If the temperature is changed to 20 degrees Celsius and the volume is changed to 0.300 L. The will be a new pressure at 2.12 atm.

Temperature is the measure of hotness or coldness expressed in phrases of any of numerous scales, including Fahrenheit and Celsius. Temperature shows the route wherein heat energy will spontaneously waft—i.e., from a hotter frame (one at a higher temperature) to a less warm body (one at a decreased temperature).

The common body temperature is ninety-eight.6 F (37 C). however normal frame temperature can vary between ninety-seven F (36.1 C) and 99 F (37.2 C) or more. Your frame temperature can range depending on how active you are or the time of day.

The heat of an item is the entire strength of all of the molecular motion interior of that item. Temperature is the degree of the thermal energy or average warmth of the molecules in a substance. SI Unit

V₁ = 0.575L

P₁ =1. So atm.

T₁ =125 + 273=398 k

√2 =0.300 L

P₂ =?

T₂ = 20 +273= 293K

P1XV 1=T2

1.50 X 0.575 lit=398 K

P2 x 0.300 lit =293K

1-50 atm x 293KX 0.575 lit

0. 300 lit X 396 K

P₂ =2.1165 atm

Learn more about temperature  here brainly.com/question/24746268

#SPJ4

8 0
2 years ago
Other questions:
  • Indicate whether each of the following statements is true or false. 1. The corporation is an entity separate and distinct from i
    5·1 answer
  • A company that wishes to increase the quality of its products should opt for _____, a branch of management science that provides
    7·1 answer
  • A source for conducting formal research would include _____. a. observations b. interviews c. written reports d. personal ideas
    15·2 answers
  • Daniel is planning to earn money over the summer mowing lawns in the neighborhood to buy a scooter. The scooter he wants costs $
    9·1 answer
  • For each of the scenarios below, determine whether the employer is likely to be discriminating against a person because of age:
    9·1 answer
  • If country a allocates more resources to producing capital goods than does country​ b, _________.
    7·1 answer
  • William Welsh, a former Air Force pilot, decides to operate a helicopter tour company to provide customers with breathtaking vie
    11·2 answers
  • Elite Trailer Parks has an operating profit of $200,000. Interest expense for the year was $10,000; preferred dividends paid wer
    13·1 answer
  • After obtaining the dried weight of your product, you ran two irs. One of them is of the product. Briefly explain which was the
    6·1 answer
  • the excluding organization, the passive club, and token acceptance symbolic equity, substantial equity, and the including organi
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!