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3 years ago

Under the direct write-off method of accounting for uncollectible accounts Group of answer choices

Business

1 answer:

Temka [501]3 years ago

7 0

Answer:

b.a specific account receivable is decreased for the actual amount of bad debt at the time of write-off.

Explanation:

The journal entry to record the bad debt expense using the write - off method is shown below:

Bad debt expense XXXXX

To Account receivable XXXXX

(Being the bad debt expense is recorded)

So by passing this journal entry we get to know that the bad debt expense should be debited which reflects the actual amount as it increases the expenses while at the same time it reduces the asset account i.e account receivable

Hence, the correct option is b.

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Develop a product service idea.

Alex787 [66]

Answer:

Read the following explanation.

Explanation:

1a- My products idea is the auto-home temperature control system which will benefit the customers to control the temperature of their home in winter time. this product is both automatic means customer can control this system with remote and use of internet as well as manually by changing its settings.

b- The potential customers for this product are based on geographic segmentation in which customers who live in cold countries like Canada, America, Atlanta, Russia will be targeted.

another potential custome segmentation will be based on demographic in which customers who are professionals like doctors, lawyers, or job doers and having average to high income level will be targeted like income level from $50000-above $150000.

2-the three possible way to market my product are-

a-Use of google in which customers will type the name of my product and it will list on top because of SEO and i will rank my product on top list so that customers can click and read about my product on my website easily.

the pro of this that customers will get information easily and place order. this will help to build good image of my product being top at google list.

the con is that this may cost more to put my product on top of search engine list.

b- The use of social media like Fb post, instagram etc in which my product will get advantage of being marketed to wide range of audience at low cost. also there are billions of users on social media so we can reach to them in less time.

the con of this is that use of social media involves other big brands and products already so customers tend to ignore such ads.

c- the third would be use of TV commercials in which we would use celebrity influenece to market my products. the advantage of this is that Customers will be influneced by celebrity power and will order the product. Tv commercials will have customers who are ignored by social media.

the con of this is that this may cost extra to hire celebrity also customers who are to watch Tv shows or movies tend to skip ads.

4 0

4 years ago

Prithi acquired and placed in service $190,000 of equipment on August 1, 2015, for use in her sole proprietorship. The equipment

il63 [147K]

Answer:

d.) $38,000

Explanation:

Given that

Acquired value of the plant = $190,000

Recovery period = 5 years

So according to section 179, the total deduction is limit to the 1 by 5 i.e useful life or recovery period of acquired price or purchase price

So, the amount is

= Acquired value of the plant ÷ recovery period

= $190,000 ÷ 5 years

= $38,000

By dividing the acquired value with the recovery period we can get the maximum deduction

4 0

4 years ago

Which of the following is a false statement regarding a Flexible Spending Account (FSA) (also known as a flexible spending arran

julsineya [31]

Answer: C. The taxpayer can use FSA funds to pay for insurance premiums

Explanation:

The Flexible Spending Account (FSA) is very useful as it provides reimbursement for certain out-of-pocket health care cost and is not taxable saves people money.

However, even though FSA funds can be used to pay off deductibles and co-payments, taxpayers are not allowed to use it to pay insurance premiums.

5 0

4 years ago

How can social media help employers during the hiring process? Check all that apply.

Gelneren [198K]

Answer:

Explanation:

most reasonable answer

7 0

2 years ago

Read 2 more answers

Sandhill Co. purchased machinery that cost $2800000 on January 4, 2019. The entire cost was recorded as an expense. The machiner

Ugo [173]

Answer:

$2,217,777.78

Explanation:

The computation is shown below:

The accumulated depreciation amount till 31 Dec 2013

= ($2,800,000 - $180,000) ÷ 9 × 2

= $582,222.22

Now the expenses recorded as the purchase is $2,800,000

so,

The Retained earnings understated by

= $2,800,000 - $582,222.22

= $2,217,777.78

7 0

3 years ago