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
scZoUnD [109]
2 years ago
6

Oceanside Company uses the balance sheet approach in estimating uncollectible accounts expense. Its Allowance for Doubtful Accou

nts has a $2,300 credit balance prior to adjusting entries. It has just completed an aging analysis of accounts receivable at December 31, 2018. This analysis disclosed the following information:
Age Group Total Percentage considered uncollectiable
Not yet due $56,000 1%
1â30 days past due 30,000 4%
31â60 past due 15,000 6%

Required:
What is the appropriate balance for Oceanside's Allowance for Doubtful Accounts at December 31, 2018?
Business
1 answer:
Bezzdna [24]2 years ago
6 0

Answer:

$4,960

Explanation:

The computation of the appropriate balance for  Allowance for Doubtful Accounts but before that first we need to find out the allowance for doubtful debts which are shown below:

= Not yet due × given percentage + past due balance × given percentage + past due balance × given percentage

= $56,000 × 1% + $30,000 × 4% + $15,000 × 6%

= $560 + $1,200 + $900

= $2,660

And, there is a credit balance of $2,300

So, the appropriate balance is

= $2,660 + $2,300

= $4,960

You might be interested in
A firm knows that Mike’s income elasticity of demand for hair ties is 5 while for Sally it is 0.2. A firm can reason that a hair
bonufazy [111]

Answer:

1) Luxury

2) Necessity

Explanation:

1)The hair tie is a luxury good for Mike because Mike has a income elasticity of 5 which means that if mike's income decreases 1% his demand for the good decreases 5%, which shows that his demand for this good is highly sensitive to his income which is a characteristic of luxury goods, as you only buy luxury goods when your income increases.

2) It is a necessity for Sally because her income elasticity to the good is 0.2 which means every 1% change in income changes her demand by just 0.2%, which shows demand is not very sensitive to income and the quantity she buys them in dont rely much on her income, which is a sign of a necessity, you buy a certain amount of necessities regardless of your income.

6 0
3 years ago
In its first year of operations Best Corp. had income before tax of $540,000. Best made income tax payments totaling $177,000 du
hodyreva [135]

Answer:

$378,000

Explanation:

Best Corp. has income before tax of $540,000.

The tax rate is 30%.  the amount of tax will be 30% of $540,000.

= 30/100 x $540,000

=0.3 x 540,000

=$162,000

Tax amount = $162,000.

Net income =  Income before tax - tax amount

=$540,000 - $162,000

=$378,000

8 0
2 years ago
Question 9 of 20
Lubov Fominskaja [6]
Umm what ;-; Imao I don’t get this
7 0
3 years ago
Teams and groups tend to have very rigid rules and consequences. True or false
mr Goodwill [35]
That statement is true

A team or a group usually formed based on one similar goals or point of views among the members and a lot of them set up a couple of rules to be imposed among their members to prove that they're committed to the group and its cause.
8 0
3 years ago
Read 2 more answers
Thao is interested in construction and architecture. She would like to become a Civil Engineer in the future.
Dominik [7]

Building, construction, and maintenance of physical architecture is a profession of civil engineering.

Whenever students would like to continue pursuing their civil and structural careers, they require specific skills to be competent in their choice of job.

The competencies that also conform to the civil engineering career seem to be:

  • Skilled in mathematics, science, and computer design.
  • Likes mechanically inclined to work with her hands.
  • <u><em>Good, patient, </em></u>and <u><em>persistent communicating</em></u>.
  • It could be use to discuss ideas and subjects, defend them and negotiate.

Learn more:

brainly.com/question/11315203

5 0
2 years ago
Other questions:
  • Which task should happen during the planning of a project
    14·2 answers
  • Predict how the price of athletic shorts would change if schools banned their use.
    5·1 answer
  • Explain the chain of cause and effect reactions since the mid-1990s that led to lower book prices for American consumers.
    5·1 answer
  • Google Maps is a web mapping service that provides street maps and directions. A Google Maps component can be added to a busines
    13·1 answer
  • Alert Security Services Co. offers security services to business clients. The trial balance for Alert Security Services Co. has
    9·1 answer
  • A common room pricing strategy used by hotels is to price each day for which this room can be reserved, as discussed in the lect
    6·1 answer
  • Production equipment costing $500,000 has been purchased by a contract manufacturing company to meet the specific needs of a cus
    7·1 answer
  • The revenue manager at the 133-room Big Bluff Bunkhouse Hotel noticed that, based on information from the past several years, th
    13·1 answer
  • How are cost and material estimations used by engineers?.
    7·1 answer
  • The pattern of planned human resource deployments and activities that are intended to enable an organization to achieve its goal
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!