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Ahat [919]
3 years ago
14

True or false: The allowance method of accounting for bad debts records the loss from an uncollectible account receivable when i

t is determined to be uncollectible. No attempt is made to predict bad debts.
Business
1 answer:
PSYCHO15rus [73]3 years ago
7 0

Answer:

false

Explanation:

The allowance procedure estimates bad debt expense before an uncollectible account receivable has been purposed to be uncollectible.

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The Mobile Share Plan: $150 monthly fee for up to 10 devices, unlimited talk and text for all the lines, and data charges of $10
kherson [118]

Answer: 150+10p

Explanation:

From the above question, The Mobile Share Plan: $150 monthly fee and data charges of $10

Finding the model of the total cost

= 150+10p

8 0
2 years ago
Which of the following was the fourth leading cause of deaths in the construction industry in 2005? A. Being struck by something
artcher [175]
I think the correct answer from the choices listed above is option D. The fourth leading cause of deaths in the construction industry in 2005 would be getting <span>caught or between two objects. Number one would be due to falls. Hope this answers the question. Have a nice day.</span>
7 0
2 years ago
In 2019, Wesley has a fairly simple tax situation with moderate wage income and a modest amount of interest income. Wesley, age
asambeis [7]

He may file Form 1040.

Explanation:

Form 1040 is the IRS standard form which is used by individual taxpayers to file their annual tax reports.

Form 1040 is the IRS tax form used mostly for personal tax returns submitted by US citizens by the federal government. Form 1040 is a form. The method estimates the taxpayer's gross taxable income and specifies how much the government has to pay or repay.

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3 0
3 years ago
Kingston Co. uses the percentage-of-receivables basis to record bad debt expense.
Troyanec [42]

Answer:

Explanation:

The journal entry to record the bad debt expense is shown below:

Bad debt expense A/c Dr  $2,700

      To Allowance for doubtful debts $2,700

(Being bad debt expense is recorded)

The computation of the bad debt expense is shown below:

= (Accounts receivable × estimated percentage given ) - (credit balance of Allowance for Doubtful Accounts)

= ($420,000 × 1%) -  ($1,500)

= $4,200- $1,500

= $2,700

4 0
3 years ago
North Division has the following information:
VLD [36.1K]

Answer:

due to elimination

income will decrease by $526000

Explanation:

Given data

Sales =  $1180000  

Variable expenses = $654000  

Fixed expenses =  $620000

to find out

incremental effect on net income

solution

we know here total sale is $1180000 and Variable expenses is  $654000

so contribution  if the division is dropped is sales - Variable expenses

put these value

contribution = 1180000 - 654000

contribution = 526000

so we say that due to elimination

income will decrease by $526000

5 0
3 years ago
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