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rosijanka [135]
3 years ago
14

Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $3

,700 uncollectible account of its customer, A. Hopkins. The entry or entries Gideon makes to record the write off of the account on May 3 is:
Business
1 answer:
Zepler [3.9K]3 years ago
4 0

Answer:

The entry will be:

May 3

Dr Allowances for doubtful debt               3,700

Cr Account Receivable                             3,700

(to record written-off of receivables)

Explanation:

As the company uses the allowance method of accounting for uncollectible accounts, the company would actively review and book bad debt expenses for any debt in doubt of collection. The entry would be: Dr Bad Debt Expenses & Cr Allowance for doubtful debt.

When there is sufficient evidences that these debts go default, no more expenses will be recorded, instead, the account receivable will be written off ( Cr) with the offsetting entry is Dr Allowance for doubtful debt.

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When producers of beer brands, such as Coors Light, Bud Light, and Miller Lite depict their brands being consumed in festive par
agasfer [191]

Answer:

<u>Affective</u>

Explanation:

Affective level of branding relates to tapping a customer's emotional or affectionate side, and thereby developing his relation with the brand. This aspect takes into account a customer's own perception i.e what he/she feels about the brand.

It conveys that customers get attached with their perceptible brand attributes and how those attributes affect their buying behavior. Such attributes can act as driving forces for a customer in forging brand loyalties.  

In the given case, the beer brands showcase how people are happily enjoying (emotions) while consuming their brands at a party. Here the emotion of enjoyment is being tapped by the producers.

This may arouse an effect in a consumer and he may relate the brands to that emotion of enjoyment, which may drive his buying behavior towards a brand, depending upon how it affected his perception of the attributes, such a brand provides.

4 0
3 years ago
While different natural resources and the theory of comparative advantage can explain many trade patterns, they cannot explain a
kakasveta [241]

Answer:

Intra-Industry Specialization

Dynamic Comparative Advantage

Product Life Cycle Theory

Explanation:

Ice wine is a special spirit that can only be made during a few months in the winter. The nations of Fruzenton and Grappovia are in different hemispheres, and each produces ice wine. During each nation’s winter, its ice wine industry produces enough to meet domestic demand and export to the other country. The ice wine exchanged between the two nations is nearly identical.  Intra-Industry Specialization

For many years, the nation of Stilettopia’s high-heel shoe producers have struggled in the international market because strict labor laws have made it hard to get productivity out of Stilettopians. In an effort to stimulate its industry, legislators in Stilettopia approve a bill that reduces the minimum wage and extends the number of hours shoe laborers can work in a day. Once the new policies take effect, Stilettopian high-heel shoe makers have lower costs than international competition and are able to reduce prices to the point that there is demand to export their shoes.  Dynamic Comparative Advantage

Since the turn of the century, nearly all X-ray machines purchased by hospitals have been made in Alloway. However, engineers in Osteoville recently designed an X-Ray machine that produces much more accurate results, leading to fewer malpractice cases and more reliable diagnoses. These new X-ray machines quickly become the industry standard. As a result of this, the production of X-ray machines is thriving in Osteoville, while firms in Alloway lose market share and begin trying to develop a new source of advantage Product Life Cycle Theory

7 0
3 years ago
When a company makes earnings or a profit ,and they share this profit with the stockholders it’s calle____ options : 1). Interes
I am Lyosha [343]

Answer:

njkjkljn

Explanation:

ffkjljn

7 0
3 years ago
Read 2 more answers
Champagne, inc., had revenues of $12 million, cash operating expenses of $8 million, and depreciation and amortization of $1.5 m
Hoochie [10]

The free cash flow can be calculated as below:

Revenue 12000000

Less: Expense (8000000)

Less: Depreciation (1500000)

Earnings Before Tax 2500000

Less Tax (750000)

Earnings after tax 1750000

Add Depreciation 1500000

Total Cash Earnings 3250000

Less: Change in Working Capital (500000)

Less : Purchase of Asset (700000)

Free Cash Flow 2050000

Thus Free Cash Flow can be calculated as above.

4 0
3 years ago
medicaid is intended for the needy, yet few middle-class families can afford to pay the costs of nursing home care. consequently
kipiarov [429]

Many who people enter a nursing home as private-pay patients rapidly deplete their income and assets and thus become poor through a process known as The Spend-Down Process.

When an individual's income is too high to qualify for Medicaid, he or she may use a Medicaid spend down strategy. To be accepted into the program, the individual must spend down some of his or her income to ensure that his or her income is low enough to qualify for Medicaid. You can apply for Medicaid either through your state's Medicaid agency or through the Health Insurance Marketplace.

Individuals frequently must first complete an income or asset spend down in order to qualify for Medicaid. This means that a portion of the individual's income or assets must be spent, typically on health care and medical-related expenses. However, you could spend money on accumulated debt, such as a mortgage, a car, or credit card balances.

Learn more about Medicaid here:

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