1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
klio [65]
3 years ago
5

Saint John Industries uses the percentage of credit sales method to estimate Bad Debt Expense. The company reported net credit s

ales of $670,000 during the year. Saint John has experienced bad debt losses of 5% of credit sales in prior periods. At the beginning of the year, Saint John has a credit balance in its Allowance for Doubtful Accounts of $5,700. No write-offs or recoveries were recorded during the year. What amount of Bad Debt Expense should Saint John recognize for the year?
Business
1 answer:
photoshop1234 [79]3 years ago
5 0

Answer:

$33,500

Explanation:

Relevant data provided

Total Credit Sales = $670,000

Percentage of bad debts = 5%

The computation of Bad Debt Expense is shown below:-

Bad Debt Expense = Total Credit Sales × Percentage of bad debts

= $670,000 × 5%

= $33,500

Therefore for computing the bad debt expenses we simply multiply the total credit sales with percentage of bad debts.

You might be interested in
A company fails to do a background check that would have revealed that a person it has hired has the potential to harm others. T
padilas [110]

Answer:

The correct answer to the following question is negligent hiring .

Explanation:

Negligent claim can be defined as a legal claim made by an individual ( who can be an employee or customer ) against the employer, because the individual has been injured by the employee who has a history of doing such incidents with others. This hiring claim ( negligent ) argues that the employer should have know about the history of such employees who are threat to other employees and customers.

6 0
3 years ago
One recurring problem in supply chain management is when information about the demand for a product gets distorted as it passes
vfiekz [6]

Answer: Bullwhip Effect

Explanation:

The Bullwhip Effect occurs as a result of changes in the original information about the demand of a product as the information passes across the supply chain.

In the Bullwhip Effect small changes at the customers end of the supply chain leads to large variation in the manufacturing end of the chain.

8 0
3 years ago
What are some of the ways in which the government is involved in the economy? what are the advantages and disadvantages of gover
ArbitrLikvidat [17]
The government can control tariffs and can limit how much can be imported into the usa.
The government can provide subsidies to certain producers, typically farmers.
The government can put a ceiling and a floor on prices as they wish. They can control the lowest and highest price a commodity can sell for.
The government can own public works such as a water company if they feel they can provide the service for a lower cost than the local competitors.
The government can decide which companies are monopolies and which companies are violating federal policies regarding trade. The government has the power to break up monopolies.
Each of these has advantages and disadvantages. For example, for farmers, when prices on their crops are too low, the government "gives" them money for their crops so they can stay in business.
A monopoly business controls the price and supply. If the monopoly is broken up, then competitors can enter the field- this can help drive down prices.
If the government can provide utility services for cheaper, that is good.

5 0
3 years ago
The first three steps to allocating manufacturing overhead are taken before the year begins and include all of the following exc
maks197457 [2]

Answer: D. Allocating some manufacturing overhead to each individual job

Explanation:

The first three steps to allocating manufacturing overhead are taken before the year begins does not involve allocating some manufacturing overhead to each individual job as this would affect the manufacturing process.

5 0
3 years ago
Fergie has the choice between investing in a State of New York bond at 4.1 percent and a Surething Inc. bond at 6.8 percent. Ass
iragen [17]

Answer:

The state of New York should offer bonds at 4.76% to make indifference to purchase their bonds than Surething Inc.

Explanation:

the corporation has to pay income taxes while the State of New York do not pay for income taxes thus his yield is after-tax.

Surething Inc after tax rate:

pre-tax x (1 - tax-rate) =6.8% x ( 1 - 30%) = 0.068 x (1-0.30)  = 0.0476 = 4.76%

Currently the corporation bond yield a higher rate than the State of New york (4.76% against 4.10%)

7 0
3 years ago
Other questions:
  • Which of the following is the best way to learn about a company culture?
    9·1 answer
  • Dane is a stockholder in smallworld, inc., a c corporation that manufactures amusement park rides. the company recently lost a m
    14·1 answer
  • Which of the following would not be considered an external user of accounting data for the Julian Company?
    9·1 answer
  • Why would stable prices be a goal of the US government? A. Inflation hurts borrowers. B. The government doesn't want to pay high
    9·2 answers
  • A watch manufacturing company has priced its goods at a rate which is higher than what other companies offer. the watches made b
    8·2 answers
  • Jordan wants to retire in 35 years. She wants to have $75,000 per year in retirement and she expects retirement to last for 35 y
    13·1 answer
  • What are some positive ways you can impact your Family Circle?
    12·1 answer
  • Just half a decade after the 2008 global financial crisis, an estimated 50 _______ individuals were, from a statistical point of
    13·1 answer
  • If the market interest rate is greater than the contractual interest rate, bonds will sell
    11·1 answer
  • How can I convince a friend to invest in a good manner
    13·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!