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Mrrafil [7]
3 years ago
15

Allegheny Company ended Year 1 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $82,000 and $4,500, r

espectively. During Year 2, Allegheny wrote off $8,400 of Uncollectible Accounts. Using the percent of receivables method, Allegheny estimates that the ending Allowance for Doubtful Accounts balance should be $6,800. What amount will Allegheny report as Uncollectible Accounts Expense on its Year 2 income statement?
Business
1 answer:
Cerrena [4.2K]3 years ago
3 0

Answer: $10,700

Explanation:

The Uncollectible Account Expense is the Accounting Adjustment made when a Receivable defaults on their debt and it can be calculated using the following formula,

= Uncollectible Amount written off + Closing Balance - Opening Balance.

Now the balances are as follows,

Opening Balance for Year 2 = 4,500

Closing Balance for Year 2 = 6,800

Uncollectible Amount written off during Year 2 = 8,400

Calculating therefore,

= 6,800 + 8,400 - 4,500

= $10,700

Allegheny will report $10,700 as Uncollectible Accounts Expense for Year 2.

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What are the determinants of supply? Instructions: In order to receive full credit, you must make a selection for each option. F
inysia [295]

Answer:

Number of producers

Prices of other goods

Technology

Resource prices

Explanation:

Supply is the total amount of goods and services available to consumers in a market

The higher the number of producers, the higher the number of goods produced and  the higher the supply all things being equal. The reverse would be the case if the number of producers fall.

If the price of other good increases, it would be more profitable to produce the other goods. As a result, the number of producers available to  good would reduce.

Technological progress that reduces cost of production and makes production more efficient, would lead to an increase in supply.

If the price of inputs increases, it becomes more expensive to produce the good and as a result, supply would fall.

7 0
3 years ago
Read 2 more answers
If a company has excess capacity, increases in production level will increase variable production costs but not fixed production
den301095 [7]

Answer; True

Explanation;

When a company has excess capacity, it means that potentially it could produce more than it is producing at the moment. As this potential already takes into account the fixed costs, this means that given the fixed costs it currently has, more goods could be produced on those same fixed costs and they wouldn't increase.

Increasing production level would therefore only increase variable costs which rise whenever production rises as they are directly related to the production of goods.

6 0
3 years ago
There are four resources and four jobs to be done. Assume there must be one-to-one matching between jobs and resources. The time
choli [55]

Answer:

1 → A ; 2 → C ; 3 → D ; 4 → B

Explanation:

From the given information, the table can be better structured as follows:

                       Job (Hours)

Resource               A                B               C                  D

1                              5                8                7                   7

2                             4                9                5                   9

3                             6                9                8                   7

4                             7                 6                6                   9

From the table, the allocation of resources is based on the minimum number of jobs i.e. time(hours) required to do all four tasks appropriately.

These are 1 → A ; 2 → C ; 3 → D ; 4 → B

Then, the time taken by this process is = (5 + 5 + 7 + 6)

= 23 hours

3 0
3 years ago
A favorable balance of trades exists when a country
Shtirlitz [24]

Answer:

D. exports more than it imports

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A favorable balance of payment is a term used in international trade to describe a situation where a country's exports exceed imports. A country will experience a positive balance of payment if its a net exporter.  A favorable balance of payments is when there is a surplus in a country's balance of trade.  

Exports are goods and services manufactured within the borders of a country and sold to foreigners. Imports are products bought from other countries. In calculating the balance of payment,  net income from international assets is also considered.

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