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Korvikt [17]
3 years ago
5

At the end of the year, Brinkley Incorporated’s balance of Allowance for Uncollectible Accounts is $2,300 (debit) before adjustm

ent. The company estimates future uncollectible accounts to be 5% of credit sales for the year. Credit sales for the year total $118,000. What adjustment would Brinkley record for Allowance for Uncollectible Accounts using the percentage-of-credit-sales method? (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.)
Business
1 answer:
Taya2010 [7]3 years ago
4 0

Answer:

bad debt expense   5,900 debit

  allowance for uncollectible amount 5,900 credit

Explanation:

5% of credit sales for the year.  are uncollectible.

this means we adjuste the allowance directly by this value.

credit sales: 118,000

expected uncolectible 5%

bad debt expense: 118,000 x 5% = 5,900

we will recognize the expense and credti the allwoance by this maount

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Which of the following is true of flow shop processes? a. They use different sequence of processing steps for different orders.
gtnhenbr [62]

Answer:

The answer is Letter D.

Explanation:

They are large-scale customized initiatives with wide variations in tasks.

Because the process is reapted over and over again. It is always the same process with easier mechanization, higher quantity production, which allows faster continuous improvement.

4 0
4 years ago
Developing nations have formed international commodity agreements (ICAs) between leading producing and consuming nations of comm
Stella [2.4K]

Answer: increase the income of farmers in developing nations.

Explanation:

Due to having weaker currencies, a lower standard of living and supplying raw materials, the farmers in developing nations are not paid a lot and so have to produce a significant amount of produce in order to get paid better.

International Commodity Agreements (ICAs), recognize that this is exploitative towards these farmers and so is working to increase the income that these farmers get in line with the fair trade system.

6 0
3 years ago
Cheyenne Corp. took a physical inventory on December 31 and determined that goods costing $200,000 were on hand. Not included in
tamaranim1 [39]

Answer:

$247,800‬

Explanation:

Inventory December 31

physical inventory on December 31                           $200,000

Add: Goods purchased FOB shipping point                $26,400

Add: Goods sold FOB Destination                               <u> $21,400</u>

                                                                                      $247,800‬

FOB Shipping Point - the purchaser gains title to the inventory at the shipping point, so when Pelzer shipped the goods, they belonged to Stallman.

FOB destination - means the seller maintains title until the merchandise reaches its destination, so since the goods have not reached their destination, the goods still belonged to Stallman

7 0
3 years ago
The maximum fine for a first non-driving alcohol-related offense of possession or consumption of alcohol by a minor is? $1,500 $
White raven [17]

The maximum fine for a first non-driving alcohol-related offense of possession or consumption of alcohol by a minor is $500. Option C

This is further explained below.

<h3>What is minor?</h3>

Generally, A person who has not yet reached the age of majority is considered a minor under the law. While the legal age of the majority varies by country and context, it is typically 18 years of age.

An amount that must be paid as restitution for an infraction The driver was required to make a monetary payment for the speeding ticket. Furthermore, forfeiture or penalty is paid to an injured party in a civil lawsuit where that party was found to be at fault. it may also be: a settlement reached in a made-up lawsuit that serves as a method of transferring property ownership.

In conclusion, Option C imposes a maximum punishment of $500 for a first offense of underage alcohol possession or consumption that does not include driving.

Read more about minor

brainly.com/question/14894571

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7 0
2 years ago
Which of the following statements holds true for electronic social networks? Their key use is to anonymously share ideas in an u
slamgirl [31]

Answer:Their key use is to discover and reinforce affiliations, identify experts, message individuals or groups, and virally share media.

Explanation:Social networks are networks that imbibe or encourage sharing media while developing strong interactive sessions over time.

Electronic social networks help different users of a particular network maintain contacts, discover and discuss a common topic, share updates and encourage diversity.

Social networks supports messaging services either private or public/ group discussions.

Websites for social networking and microblogging form the atmosphere through which users are able to create groups online to share information and ideas,then Social Networking helps to create and maintain a balance of personal and general discussions in the network space.

8 0
3 years ago
Read 2 more answers
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