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bezimeni [28]
4 years ago
12

A large account previously written off in a prior year was unexpectedly collected in the current year. as a result, the current

credit balance of allowance for uncollectible accounts is $17,460.00. the december 31 estimate of uncollectible accounts is only $15,450.00. your manager has discussed this transaction with you. you have been instructed not to credit uncollectible accounts expense for this transaction, as this would distort that expense for the current year. you need to determine an appropriate account to credit.
Business
1 answer:
spin [16.1K]4 years ago
6 0

In the given case the accounts were previously written off by debiting the Allowance for doubtful debts accounts now in order to revive these accounts receivable, we should Debit the Accounts Receivable and credit the Allowance for doubtful debts accounts. Hence the account to be credited is Allowance for doubtful debts accounts.

Hence the answer shall be Allowance for doubtful debts accounts


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Compare and contrast Fixed-Order-Quantity and Fixed-Order-Interval systems. What are the characteristics, advantages and disadva
alexandr1967 [171]

Answer:

The Fixed-Order-Quantity method depends on when to order a fixed amount. The order will be placed when the inventory level reaches the reorder point. E.g. a new order is placed every time inventory level is below 100 units.

The Fixed-Order-Interval works differently, since the inventory level is checked every certain amount of time, and an order is made when the level is below an specific reorder point. E.g. inventory is checked every 2 weeks.

The main difference between both systems is that FOQ continuously checks the inventory level, while FOI checks the inventory level following a schedule. The FOQ should result in a more stable inventory level and number of orders.

The FOI requires a larger safety stock because the risk of selling more than expected always exists. E.g. you check inventory every 2 weeks, and you last checked a Tuesday. If suddenly a client places a large order on Wednesday, you are at risk of a stockout for 13 days.

8 0
3 years ago
A company has 5,000 shares of $100 par preferred stock and 50,000 shares of $10 par common stock outstanding. Its total stockhol
Elodia [21]

Answer:

30

Explanation:

The first step is to calculate the preferred stock

= 5,000×100

= 500,000

Therefore the book value per common share can be calculated as follows

= 2,000,000-500,000/50,000

= 1,500,000/50,000

= 30

Hence the book value per common share is 30

7 0
3 years ago
Om is a college student at FSU. He has the option to buy a parking pass at the beginning of the year for $250. If Tom doesn't bu
Marat540 [252]

Answer:

risk seeking

Explanation:

8 0
3 years ago
For a construction project, Yosa was asked to cut a 42-inch chain into three pieces of equal length. She made the first cut corr
alex41 [277]

Answer:

The length of the shorter piece is 11 in

and the longer piece = 17 in

Explanation:

Given:

Total length of the chain = 42 in

When cut in three equal piece the length of each piece = \frac{\textup{42}}{\textup{3}}  = 14 in

Therefore, The length of the first piece = 14 in

Let the length of the shorter piece be 'x' in

Thus,

Length of the longer piece will be  = x + 6 in

also,

14 + x + x + 6 = 42 in

or

20 + 2x = 42 in

or

2x = 22 in

or

x = 11 in

Hence,

The length of the shorter piece is 11 in

and the longer piece is 11 + 6 = 17 in

6 0
3 years ago
Firms may often find that they have different divisions with differing degrees of risk. one way to adjust for this in capital bu
Sunny_sXe [5.5K]

Firms may often find that they have different divisions with differing degrees of risk. one way to adjust for this in capital budgeting is to any cash balances.

A firm is a commercial enterprise, usually set up as a partnership, that provides professional services such as legal and accounting services. Corporate theory assumes that companies exist to maximize profits.

In general, the definition of "company" in the field of economics is any business that seeks to make a profit by producing or selling products or services (or both) to consumers. For example, one of the most common uses of the term is "law firm", which typically provides legal-related services.

Learn more about Firms here:brainly.com/question/25491204
#SPJ4

3 0
2 years ago
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