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RideAnS [48]
3 years ago
13

Allegheny Company ended 2015 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $58,000 and $2,700, res

pectively. During 2016, Allegheny wrote off $4,800 of Uncollectible Accounts. After aging its receivables, Allegheny estimates that the ending Allowance for Doubtful Accounts balance should be $4,400. What will Allegheny report as Uncollectible Accounts Expense on its 2016 income statement?
Business
1 answer:
Nady [450]3 years ago
6 0

Answer:

$6,500

Explanation:

Allowance for doubtful accounts is a reduction in the total amount of accounts receivable given in the company´s balance sheet. Such an allowance is actually and estimate from the management of the accounts receivables that it doesn´t expect to receive.

Ecuation:

Adjustment =  - Beginning balance + Write offs + Ending balance

Adjustment = ($2,700) + $4,800 + $4,400

Adjustment =  $6,500

The estimation of the write off from the previous year must be discounted, the added the write off registered during the year plus the estimate at the end of the period.

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Notification by the bank that a deposited customer check was returned nsf requires that the company make the following adjusting
Montano1993 [528]

If the bank notifies the company of a deposited customer check that was returned NSF, the company would have to Debit Accounts Receivable and Credit cash.

<h3>What happens when a check is returned NSF?</h3>

This means that the check did not clear and so the depositor still owes the company the amount they had written on the check.

The company would then have to debit Receivables to show that the person still owes them, and credit cash to show the cash never reported.

Find out more on NSF checks at brainly.com/question/24260989.

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5 0
2 years ago
All of the following are reasons to stop crashing EXCEPT:
Tema [17]

The statement that does not refer to the reason that aids in project crashing is

(D) there are no critical activities that can be crashed further.

Explanation:

Project crashing basically refers to the method by which the duration of the project is reduced  .This can be done by

  • Reducing the time taken by one or more critical activity
  • By devoting more resources in order to complete the project as early as possible.
  • The cost associated with the project is also increased

In Crashing,<u> the time is inversely related to the cost of the project</u>.It means that if the time of the project increase then the project cost is reduced and if the time o/duration of the project decrease then the cost involved in the project increases

6 0
4 years ago
Taxpayer L has income of $55,000 from Norway, which imposes a 40 percent income tax, and income of $45,000 from France, which im
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Answer:

Listen to drake

Explanation:

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4 0
3 years ago
Vin diesel owns the fredonia barber shop. he employs 6 barbers and pays each a base rate of $1,310 per month. one of the barbers
Ugo [173]
To find the fixed cost, we need add all costs that do not change with the number of haircuts. These are the salaries of the barbers and the manager bonus, the advertisement fees, rent and the magazines. We also have the standard part of the utility payment, the 170$. Those add up to:
6*1310+520+280+980+20+170=9830$. We also have regarding the variable costs:
The utilities variable part are included since they depend on haircuts, barber supplies and the base rate of each barber per haircut. Hence those are:
(5.90+0.38+0.27 per haircut)=6.55$ per haircut
6 0
3 years ago
You should write down everything a speaker says when you take notes. Please select the best answer from the choices provided T F
bagirrra123 [75]

Answer:

the answer is false

Explanation:

it's tedious to copy everything a speaker says. you should paraphrase in your notes, and get the most important points.

8 0
3 years ago
Read 2 more answers
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