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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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Sam was recently promoted to the production manager of a busy shoe factory. he was chosen because prior to his promotion he had

Lorico [155]

The answer to this question is Directive style
Leaders with directive style tend to like setting clear objectives for every member of the organization.
This type of leader usually will impose specific rules and expectations for the members so each members will understand what that leader is trying to achieve.

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3 years ago

Net working capital decreases when: A. a dividend is paid to current shareholders. B. a new 3-year loan is obtained with the pro

dsp73

Answer:

A. Dividend is paid to current shareholders.

Explanation:

This is simply said to be the aggregate amount of all current asset and also all current liability of an investment. It is used in measuring the short term liability of a business by subtracting the current liability from the current asset.

In some cases, it can be tagged a company’s current assets, such as cash, accounts receivable, inventories of goods etc. Many companies sum their's by calculating cash plus accounts receivable plus inventories, less accounts payable and less accrued expenses. This is why it is seen to decrease when dividend is paid to current shareholders.

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3 years ago

How do sales skimming schemes leave a victim organization's books in balance, - despite the theft of funds?

erastovalidia [21]

The money is skimmed before the transaction is processed. In a casino the casinos winning are moves to a count room during the movement money is removed before being counted.

3 0

3 years ago

Barbara's Bakery purchased three new 7-year assets last year. She chose NOT to use Section 179 immediate expensing or take bonus

frez [133]

Answer:

$ 4,748

Explanation:

The depreciation expenses = $(\$ 15000 \times 17.85 \%) + (\$ 6000 \times 10.71 \%)+(\$ 40000 \times 3.57 \%)$

$= \$ 2677.50 + \$ 642.6 + \$ 1428$

= $ 4748

Generally we have use half year convention for assets that are purchased during the year but here we used the mid quarter as of more than the 40% of the assets are being purchased in last quarter of the year

$=\frac{\text{assets purchased in last quarter}}{\text{total assets purchased in the year}} \times 100$

$=\frac{40000}{61000} \times 100$

$=65.57 \%$ (it is more than 40%)

Thus we can use the mid quarter mars depreciation rates for the 7 years assets that are purchased this year.

8 0

2 years ago

A study finds that the noise from rock concerts is harmful; hence, the government imposes a $30 tax on the sale of every unit. T

Fed [463]

The correct answer is: decrease; $195; $190; $165.

A study found the noise from rock concerts to be harmful.
To correct the externality created by the concerts, the government imposes a tax $30 on sale of each unit.
The price of tickets was initially $190.
After the imposition of the corrective tax, the price increased to $195.
This increase in price will cause the demand for tickets to decrease. As a result, the number of concert tickets sold will decrease.
The socially optimal price of the tickets is $195, as this price eliminates externalities.
The private market price is the price which was creating externalities, in this case, it is $190.
We can find the price received by the firms by deducting the tax amount from the new price.
The price received by the firms is
= $195 - $30
= $165

4 0

3 years ago