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
algol13
3 years ago
6

What is the normal balance for the allowance for doubtful accounts (debit or credit), and why?

Business
1 answer:
abruzzese [7]3 years ago
7 0

The allowance for doubtful accounts has a normal credit account.

This account is a contra-asset account. Since assets have a normal debit balance, this account would have a normal credit balance.

You might be interested in
When you widen a column that results in excess row heights, you can eliminate the excess row height by:
melisa1 [442]

Answer:

Using the shortcut keys Alt+O+R+A

Using Home/Cells/Format/Auto Fit Row Height

Double-clicking the bottom of the row number box

Explanation:

The excess row height could be resulted, if you set a row height manually. It can be fixed by some shortcut, or using the functions available in the Tabs.

You can fix this by Entering a short key of Alt+O+R+A. It will automatically adjust you row height according to format and data in the specific row.

Use Pathway of Home/Cells/Format/Auto Fit Row Height to adjust the height of the row according to format and data in the specific row.

You can also adjust the row height by Double clicking the bottom of the number box of the row.

8 0
3 years ago
Builder's Outlet just hired a new chief financial officer. To get a feel for the company, she wants to compare the firm's sales
Shkiper50 [21]

Answer:

The answer is: Income statement

Explanation:

As she wants to get information on sales and costs, the Income statement is the statement that she should looking for. With the Balance sheet statement, it only shows information on the financial position reporting the firm's assets, liabilities and owner's equity at a specific point in time rather than the sales and costs firgures during the reporting period.

Furthermore, she should opt for Income statement rather than the common-size income statement because the common-size income statement hardly illustrates any trend during the recent years/ reporting periods, instead, it is only shown each revenue and cost items as percentage of total sales in a specific period.

In the income statement, there should be enough information for the new CFO to find trends on revenues and costs (if any) because the revenue and cost items is detailed enough and at least it should be given the comparision between sales & costs of the reporting period versus the firgures of the previous reporting period.  

8 0
4 years ago
What is a company's market share?
chubhunter [2.5K]
D: because it can't be C, B, A or because they have their own definition
5 0
3 years ago
g A speculator buys a call option for $3, with an exercise price of $50. The stock is currently priced at $49, and rises to $55
azamat

Answer:

$53

Explanation:

Call option is $3

Exercise price is $50

The stock is currently priced at $49

It rises to $55 on the expiration date

Therefore the cost price at which the speculator will break even can be calculated as follows

= ($50-$3)+($55-$49)

= $47 + $6

= $53

8 0
3 years ago
Bloom and Plant organize a partnership on January 1. Bloom's initial investment consists of $800 cash, $1,700 equipment and a $5
Elan Coil [88]

Answer and Explanation:

The journal entry to record the investment of Bloom is as follows:

Cash Dr $2,000

        To Capital $2,000

(Being the investment is recorded)

Here the cash is debited as it increased the asset and capital is credited as it also increased the equity

8 0
3 years ago
Other questions:
  • The Valentine Company has decided to buy a machine costing $14,750. Estimated cash savings from using the new machine amount to
    11·1 answer
  • In a perfectly competitive industry, the existence of positive economic profits induces firms to _______ (enter / exit) an indus
    13·1 answer
  • Suppose instead that an emissions tax is placed directly on consumers. Under what conditions will producers also bear some of th
    14·1 answer
  • Sheridan Corporation traded a used truck (cost $27,600, accumulated depreciation $24,840) for a small computer with a fair value
    13·1 answer
  • The interest rate by corporations to evaluate the attractiveness of economic alternatives is known as the
    8·1 answer
  • Item 4 A coupon bond that pays interest annually has a par value of $1,000, matures in seven years, and has a yield to maturity
    11·1 answer
  • QUESTION 1 Which of the following life insurance policies provides the highest benefit for the lowest premium and is simply a pu
    14·1 answer
  • Mr. Hopper expects to retire in 25 years, and he wishes to accumulate $750,000 in his retirement fund by that time. If the inter
    9·1 answer
  • When using the cost of production report to analyze the change in direct materials cost per equivalent unit compared to conversi
    10·1 answer
  • Marta the public relations manager of a local library is meeting with the news media regarding a new reading
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!