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Lorico [155]
4 years ago
7

O’Brien Brewery and Delgado Vintage Wines both decided to write off a specific customer’s uncollectible account as a bad debt ex

pense. To record this transaction, O’Brien Brewery recorded a debit to Bad Debt Expense, whereas Delgado Vintage Wines recorded a debit to Allowance for Doubtful Accounts. What is the difference between these two companies?
Business
1 answer:
vlabodo [156]4 years ago
4 0

Answer:

Both uses different methods when handling their accounts. O'Brien Brewery uses the direct write-off method for uncollectible accounts while Delgado Vintage Wines uses the allowance method for uncollectible accounts respectively.

Explanation:

O' Brien method records a debit to Bad Debt Expense and a credit to the specific Accounts Receivable account that is uncollectible. Delgado Vintage Wines' method records a debit to Allowance for Doubtful Accounts and a credit to the specific Accounts Receivable account that is uncollectible.

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Sparks Corporation has 3,000 shares of 8%, $100 par value preferred stock outstanding at December 31, 2017. At December 31, 2017
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Answer:

We can assume that Sparks Corporation is going to pay preferred stockholders first:

preferred stock dividends = $100 x 8% x 3,000 = $24,000

If the corporation doesn't owe any previous dividends to preferred stockholders, then the remaining $81,000 (= $105,000 - $24,000) should be distributed to common stockholders.

Each preferred stock will receive a $8 dividend. I don't know the amount of outstanding common stock, so it is not possible to determine how much dividend will be distributed for each common stock outstanding.

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3 years ago
Prizes and toys in a cereal box as rewards for purchasing the cereal are examples of _____.
miv72 [106K]

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Prizes and toys in a cereal box as rewards for purchasing the cereal are examples of PREMIUMS

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3 years ago
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The process of dividing the potential market into sub-markets with common needs and features is called:________
chubhunter [2.5K]

Answer:

The correct answer is A. Market Segmentation.

Explanation:

The process of dividing the potential market into sub-markets with common needs and features is called market segmentation. The segments created are composed of consumers who will respond similarly to marketing strategies and who share simialr traits.

For example, common characteristics of a market segment include interests, lifestyle, age, gender, etc. Common examples of market segmentation include geographic, demographic, psychographic, and behavioral.

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Creative accountant who DIY their own accounting system go to jail. True or false
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Which action will be least helpful if you’ve been the victim of identity theft?
lina2011 [118]

<u>Ordering your latest credit report</u> is the action that appeared to be the least helpful if you’ve been the victim of identity theft. Therefore, <u>the correct answer is D. </u>

If anyone has been a victim of identity theft, then it is important for such a person to officially report or contact any of the credit reporting companies to place a fraud alert on their credit report.

<h2>Further Explanation</h2>

Identity theft is when someone intentionally steals your information and uses such information without taking your permission. In the US, identity theft has become a booming business for fraudsters

In the US, 15.4 million Americans were a victim of theft, also identity theft tops complain of the consumer to the Federal trade commission. Regardless of how careful you seem to be, you can still fall victim to identity theft.

If you are a victim of identity theft, there are things you do immediately.

Some of the steps you can take to prevent an identity thief to further commit fraud with your details include

  1. Report any issues concerning identity theft to the federal trade commission (FTC)
  2. Ensure you clean up your entire account
  3. Immediately contact the credit Report Company and officially place a fraud alert
  4. In case of Tax-related identity theft, report to the IRS
  5. Place a block on your credit report
  6. Contact the company or the backs where the fraud occurred.

LEARN MORE:

  • Which action will be least helpful if you've been the victim of identity theft  brainly.com/question/1359436
  • Which action will be least helpful if you’ve been the victim of identity theft brainly.com/question/3968427

KEYWORDS:

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