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spin [16.1K]
3 years ago
12

Windsor Company reports the following financial information before adjustments. Dr. Cr. Accounts Receivable $145,600 Allowance f

or Doubtful Accounts $3,350 Sales Revenue (all on credit) 834,000 Sales Returns and Allowances 53,540 Prepare the journal entry to record bad debt expense assuming Windsor Company estimates bad debts at (a) 4% of accounts receivable and (b) 4% of accounts receivable but Allowance for Doubtful Acc
Business
1 answer:
Lady_Fox [76]3 years ago
8 0

Answer:

See below

Explanation:

1.

Bad debts ($145,600 × 4/100) = $5,824 - $3,350 = $4,000 Dr

...................To Allowance for doubtful account $4,000 Cr

(To record the estimation of 4% of bad debts on gross account receivable after adjusting the credit balance)

2.

Bad debts ($145,600 × 4/100) = $5,824 + $3,350 = $9,174 Dr

..............To Allowance for doubtful accounts $9,184 Cr

(To record 4% of account receivable but allowance for doubtful account).

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Abused children live in families of all socioeconomic levels, races, nationalities, and religious groups, although child abuse i
Digiron [165]

Answer:

The correct answer is lower-class nonwhite.

Explanation:

The lower class is the poorest population segment of human society. It is characterized by having great gaps in its way of life and limitations in terms of access to economic resources. They are usually unemployed people, who do not own their own home or other goods or properties that are essential for living.

To this socioeconomic class belong people with very low educational levels, barely with primary education and some with secondary education. Some casual or independent workers also enter this class. Lower class families do not have good basic services in their homes.

6 0
3 years ago
If a firm has the market price of the firm's common stock of $500 and its annual earnings per share of $50 , then the firm has a
sweet [91]

Answer:

Price / Earning ratio = 10

Explanation:

the P/E ratio will be determinate as follow:

\frac{Market \: price}{EPS}

Thus, the P/E will be 500/50 = 10

the price earning ratio stand for the amount of time required to payback the investment. In this case, 10 years as the market value is 500 dollars and eahc year the share earn 50 dollars

8 0
3 years ago
During the _____ stage of the product development process, a firm gears up for full-scale production, distribution, and promotio
earnstyle [38]
<span>Commercialization, is the stage in new product development, is the full introduction of a complete marketing strategy and the launch of the product for commercial success.After that only we can come to know whether the product is commercially successful or not.when the product is commercially successful one can go for full-scale production of the product.</span>
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3 years ago
Answer Quick plz<br><br><br>How would you write $25.08 properly on a check?
postnew [5]

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6 0
3 years ago
What should be the current price of a share of stock if a $5 dividend was just paid, the stock has a required return of 20%, and
Gala2k [10]

Answer:

Current Price of the Share Stock is $ 37.86 (D)

Explanation:

Using dividend valuation method with a constant growth rate assumption, share price is calculated as : Po =D1/(Ke-g).

Where;  Po ⇒Market Value excluding any dividend currently payable

            D1= Do(1+g)⇒Expected dividend in one year's time

            Ke =Required rate of return by shareholders

             g= Dividend growth rate

<u>Calculation</u>

D1 = 5(1+0.06)= $5.3

Hence, Po= 5.3/(0.20-0.06)

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The share price is expected to reflect the future expected stream of income i.e  dividends and capital gains ,discounted at an appropriate cost of capital.

Some of the assumptions of dividend valuation method include but not limited to the following:

- it assumed that investors act rationality and in the same way ;

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3 years ago
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