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Mama L [17]
3 years ago
5

Cashier's checks Checks Question 5 0/1 pts If Sid Inc. has net sales of $750,000, sales on account of $600,000, and sales return

s and allowances of $50,000, what would be the bad debt expense for the year, assuming that Sid uses an estimate of 12% for bad debts? A. $72,000 B. $66,000 C. $90,000 D. $18,000
Business
1 answer:
IRINA_888 [86]3 years ago
7 0

Answer:

Option A,$72000

Explanation:

Bad debt expense is computed on the net  credit sales amount, in other words, the bad debt expense is 12% of credit sales of $600,000.

Bad debt expense=$600,000*12%

                               =$72000

Option C is wrong because the answer was arrived at by calculating 12% of $750,000 the net sales amount that also has cash sales of $150,000 included in it($750000-$600000)

Option B is wrong as the amount of sales returns and allowances of $50,000 was deducted from $600,000 prior to applying 12% allowance for bad debt

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Firms are organizations that A) take advantage of the public. B) transform resources into products. C) transform outputs into in
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Answer:

B

Explanation:

A firm is an organisation that is created to make profit. They transform resources into products

They include :

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2 years ago
Telstra, Australia's largest telecommunications and media company, has net revenue of more than $ 26 billion (Australian). Some
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The items included in its recent annual consolidated Dividends statement of cash flows presented using the direct method are listed.

1. Receipts from customers ------------- Operating Activities (O)

2. Dividends paid ----------- Financing Activities (F)

3. Payment for share buyback --------- Financing Activities (F)

4. Proceeds from the sale of property, plant, and equipment ------  Investing Activities (I).

5. Repayments of borrowings ------- Financing Activities (F)

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A dividend is a distribution of profits by means of a business enterprise to its shareholders. while a organization earns a profit or surplus, it is able to pay a percentage of the earnings as a dividend to shareholders. Any quantity now not dispensed is taken to be re-invested within the commercial enterprise.

Dividends are bills a business enterprise makes to share earnings with its stockholders. they're paid on an ordinary basis, and they're one of the methods investors earn a return from making an investment in stock.

Learn more about Dividends here:-brainly.com/question/25845157

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4 0
1 year ago
Douglas Industries produced 5,500 units of product that required 2.5 standard hours per unit. The standard variable overhead cos
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Answer:

The variable factory overhead controllable variance is $2,250 favorable.

Explanation:

variable factory overhead controllable variance

= standard variable cost - actual variable cost

= $5500-2.5*3 - $39000

= $2,250 favorable

Therefore, The variable factory overhead controllable variance is $2,250 favorable.

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3 years ago
Dale, a design engineer at a machinery manufacturing company, prepares a plan with a detailed estimate of the overheads and reso
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Answer: Single-use plan

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The budget, program, strategy and also the projects are the different types of single use planning process.

According to the given question, Dale is one of the design engineer in the manufacturing organization and dale is used to preparing the various types of plans with the proper resource and the overhead estimation.

Therefore, The dale is preparing the single use plan.    

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