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
IgorC [24]
3 years ago
9

The Allowance for Doubtful Accounts account has a year-end credit balance, prior to adjustment of $500. The bad debts are estima

ted at 7% of $60,000, the outstanding accounts receivable. After the appropriate adjusting entry to recognize the bad debt expense, what will be the balance of the Allowance for Doubtful Accounts?
Business
1 answer:
Elan Coil [88]3 years ago
6 0

Answer:

Estimated balance of Doubtful Account after adjusting entry = $4,200

Explanation:

Given:

The credit balance of Doubtful Account = $500

Computation of estimated balance of Doubtful Account after adjusting entry:

Estimated balance of Doubtful Account after adjusting entry = 7% of $60,000

Estimated balance of Doubtful Account after adjusting entry = $4,200

After adjusting entry , Total amount credited in Allowance for Doubtful Accounts is $4,200

You might be interested in
Le Jouet is a profit-maximizing firm that produces toy trains. In France, its home country, it enjoys unchallenged market power
marysya [2.9K]

Answer:

The demand that Le Jouet faces for toy trains in France is less elastic than in Russia.

Explanation:

This is the statement that best describes the panorama that Le Jouet faces in France. When comparing the markets of France and Russia, we learn that the demand for toy trains in France is less elastic than the demand in Russia. Price elasticity refers to a measure of responsiveness of consumers. This measures how responsive consumers are to a price change.

6 0
3 years ago
What is the incremental manufacturing cost incurred if the company increases production from 20,000 to 20,001 units? 2. What is
sergiy2304 [10]

Answer:Answer:

ik it is it is

Explanation:

ik it is is is Answer:

ik it is it is

Explanation:

ik it is is is

Explanation:

Answer:

ik it is it is

Explanation:

ik it is is is

4 0
2 years ago
"Which type of report would help the company study available options and how should it be organized?"
oksian1 [2.3K]

a yardstick report would be used. it would be organized indirectly, describing the problem, explaining alternatives, establishing criteria for comparison, evaluating each alternative in terms of the criteria, and making recommendations.

6 0
3 years ago
Which of the following material events occurring subsequent to the December 31, Year 1, balance sheet date will not ordinarily r
Nookie1986 [14]

Answer:

<em>Acquisition of a subsidiary on January 23, Year 2. Negotiations had begun in December of Year 1.</em>

Explanation:

An entity acknowledges <em>events that occurred in the financial reports which provide data on conditions that exist at the income statement date,</em> including calculations that are inherent in the preparation of the statement.

The holding company's sale did not take place until the end of the year.

Therefore, the transaction only included disclosure of the note, not acknowledgement in the statements.

5 0
4 years ago
Suppose the government wants to reduce cigarette consumption to 200 billion packs per year. The government could achieve this by
irakobra [83]

The government could achieve reduction of cigarette consumption to by imposing a per-unit tax on cigarettes of 200 billion packs per year

<h3>What can Taxation achieve?</h3>

A taxation refers to compulsory levies on individuals, business by the governments on their income, operation etc.

In conclusion, apart from the revenue that tax generates for the government official, its also serves as tool for controlling consumption.

Read more about taxation

<em>brainly.com/question/25783927</em>

5 0
2 years ago
Other questions:
  • One of the unique problems that banks face is: A. they hold illiquid assets to meet liquid liabilities. B. they hold liquid asse
    13·1 answer
  • Which is one of the best ways to avoid credit problems​
    12·1 answer
  • In terms of team rewards and recognition, skill-based pay works well with ______.
    9·1 answer
  • Eagle, Inc. is a manufacturer and distributor of consumer products in the U.S. It has a wholly owned foreign subsidiary, El Rio,
    13·1 answer
  • Anton believes his company's overhead costs are driven (affected) by the number of machine hours because the production process
    8·1 answer
  • ​The manager of an ice-cream parlor decides to introduce a new ice-cream flavor in his Dallas, TX based restaurants to compare t
    11·1 answer
  • True or false: A decision tree is an analytical tool that can help managers to understand the possible consequences of their dec
    6·1 answer
  • A company had a beginning balance in retained earnings of $430,000. It had net income of $60,000 and declared and paid cash divi
    15·1 answer
  • A law passed increasing the minimum wage by 10%.
    5·1 answer
  • If a firm has debit of 40%, a tax rate of 35%, free cash flows of $31, a change in capital expenditures of $20, and a change in
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!