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]
3 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]3 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
What term is used to describe the method that allows coplink to access many different databases of law enforcement agencies with
slamgirl [31]

The term is used to describe the method that allows copy link to access many different databases of law enforcement agencies with varying data fields is a multi-dimensional approach Option A

This is further explained below.

<h3>What is a multi-dimensional approach?</h3>

Generally, Because we are utilizing an appropriate and specialized way to access the data basis of law enforcement under multiple data fields, we are able to state that the described method operates under the term known as a multi-dimensional approach.

This is an approach in which the database is accessed and analyzed via numerous dimensions, or we can call data to feel categories, in order to produce appropriate results and more efficient functioning.

In summary, we may reach the following conclusion after reviewing the information presented above: the choice that was picked is the optimal response to the inquiry that was posed.

The question that was presented before has been addressed and clarified; if you have any other questions, please leave them in the comments area below.

Read more about the multi-dimensional approach

brainly.com/question/14522063

#SPJ1

5 0
1 year ago
When the dollar appreciates relative to foreign currencies, it means that:?
Talja [164]
<span>When the dollar appreciates relative to foreign currency means that the exchange rate will favor the dollar and cause a decrease in the the price of imported goods. It also means that travel abroad from the U.S. to the relative countries will increase due to lowered costs.</span>
6 0
4 years ago
A firm conducted a market analysis and determined that a new wo
forsale [732]
The answer is A the firm should increase output!!!!
4 0
3 years ago
Which of the following are assumptions of the simple CAPM model? I. Individual trades of investors do not affect a stock's price
lisabon 2012 [21]

Answer:

I, II, and III are all correct and part of this model

Explanation:

The CAPM model or Capital Asset Pricing Model indicates the relationship between the amount of risk and the expected profit for a certain investment. This model holds many assumptions, which from the ones provided we can say that assumptions I, II, and III are all correct and part of this model. The only assumption that is not correct is IV, since the level of risk aversion that each investor has depends on how much they know about their investment.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

7 0
4 years ago
Scenario
aalyn [17]

Answer:

GBI

a. Journal Entries

Feb. 2

Debit Supplies Expense $800

Credit Payables-Misc. account $800

To record the purchase of supplies on account.

Feb. 4

Debit Accounts Payable $800

Credit CAsh $800

To record the payment on account.

b. The resulting document numbers are:

FI document number 1: __________ 100001

FI document number 2: __________ 100002

Explanation:

The journal entries are made to initially record the transactions in the books of GBI.  Journal entries identify the accounts involved in every transaction.  They add some brief narrations of the transaction.

4 0
3 years ago
Other questions:
  • Your project requires new software. The IT department is going to research options to identify the best solution to work with yo
    6·1 answer
  • When valuing a stock using the constant-growth model, d1 represents the?
    10·1 answer
  • An employee receives an hourly rate of $27, with time and a half for all hours worked in excess of 40 during a week. Payroll dat
    7·1 answer
  • The Turtle Society, a nongovernmental not-for-profit entity (NFP), receives numerous contributed hours from volunteers during it
    6·1 answer
  • The ________ concept is aligned with the philosophy of continuous product improvement and the belief that customers will choose
    5·1 answer
  • Which of these outcomes become more likely for someone with strong personal finance skills? Check all that apply.
    5·1 answer
  • Metro Inc. has two production departments (Lamination and Molding) and three service departments (Human Resources, Technology Su
    14·1 answer
  • Which is an example of a meta-search engine?
    12·1 answer
  • What is it called whenever there<br> is no shortage or surplus in the<br> market?
    8·2 answers
  • How much is the sales tax on $19.50 worth of goods if the tax rate is 7%? $2.79 $0.14 $1.37 $0.28
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!