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jek_recluse [69]
3 years ago
8

Sully Corporation uses an allowance method for accounting for bad debt expense. Sully estimates that 2% of sales will eventually

become uncollectible. If Sully has $100,000 of credit sales and $100,000 of cash sales during the year, the adjustment for estimated uncollectible accounts will require a:___________.
Business
1 answer:
il63 [147K]3 years ago
8 0

Answer:

$4000

Explanation:

The total sales would the sum of credit sales and sales on cash basis,in effect total sales is $200,000($100,000+$100,000).

The estimate for allowance for uncollectible debt is 2% of total sales,which is $4000 (2%*$200,0000)

Hence,the correct answer in this case is $4000 and it implies that Sully Corporation intends to receive $96,000 in cash out of the debt to its by customers($100,000-$4,000)

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Juan purchased a property for $420,000 and financed $336,000 of it. The assessed value of the property is $387,000. The property
liq [111]

When it comes to calculating property tax, the most relevant amount is the assessed value of <u>$387,000.</u>

When calculating property tax, the useful figures are:

  • The assessed value of the house
  • The Property tax rate

This assessment is arrived at in various ways but once it is arrived at, it is then multiplied by a figure known as the mill levy and the result will be the property tax.

In conclusion, the assessed value is most useful.

<em>Find out more at brainly.com/question/19643657. </em>

3 0
3 years ago
Suppose the majority of students who are graduating in May from a large university have found jobs and signed employment contrac
Aleks [24]

Answer:

<u>increase </u>, <u>reduce </u>

Explanation:

Assumption: <u>The given problem has been solved upon the assumption that students, who are in the process of entering employment, will lead to the possibility of increased spendings, since such students disposable income rises. </u>

Aggregate demand represents the total demand for all goods and services produced in an economy during a period.

Mathematically, Aggregate Demand is represented as follows:

AD = C + I + Net Exports + G

wherein,

C = Consumption

I = Investment

Net Exports = Exports - Imports

G= Government Spending

In the given case, students which earlier had no income of their own, will now have a disposable income. Owing to which, their consumption spending would increase.

As a result of this, the savings would reduce.

Y = C + I + G

where, Y = National Income

          I = Investment

          G= Government expenditure

Aggregate demand will increase as a consequence.

4 0
3 years ago
Examine the table comparing two individuals.
Jobisdone [24]

Answer:

1- selma

2- tobacco use

3- preexisting condition

Explanation:

I just took it on edge

4 0
3 years ago
Which of the following types on insurance carries a cash value which can be borrowed against?
nydimaria [60]
The answer is life insurance.
3 0
2 years ago
How much money would you have to deposit today in order to have $5,000 in three years if the discount rate is 6 percent per year
Stells [14]

Answer:

$4,198.10

Explanation:

Compounding and discounting are the methods used to determine the present and future value of money.

Compounding shows the Future value of an amount today while discounting shows the present value of a future amount.

Fv = Pv ( 1 + r )^n

where

Fv = Future value

Pv = Present value

r = discount rate

n = time

5000 = Pv ( 1 + 0.06)^3

Pv = 5000(1.06)^-3

= $4,198.10

8 0
3 years ago
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