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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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Answer:

The correct answer is D) offers growth in revenues and profits by discovering or inventing a new industry or distinct market segment that renders rivals largely irrelevant and allows a company to create and capture altogether new demand.

Explanation:

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4 years ago
In the year 2020, a divorced woman under age 50 collects $50,000 of alimony and child support as her sole source of income. The
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The available options are:

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B. A contribution of up to $6,000 is permitted, but the contribution is not tax deductible.

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No contribution can be made because the woman does not have earned income

Explanation:

Unlike in the previous years before 2019, concerning divorce agreements, alimony is now declared to be no longer deductible by the payor and at the same time is considered to be a tax-free income to the recipient. In essence, this indicates that alimony is no longer qualifies as earned income and therefore, cannot be utilized to fund an Individual Retirement Account.

Hence, in this case, since it is , year 2020, the correct answer is "No contribution can be made because the woman does not have earned income."

8 0
3 years ago
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jek_recluse [69]

Answer:

The correct answer is option c.

Explanation:

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The market for wheat is a pure competition as there is a large number of sellers who are producing identical products. The firms are price takers and the price is determined by market forces.

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Answer is C , when you actually listen to the person it saves to,e for them because they don't really have to go over it again ; and for you , you don't have to sit there confused or have to ask for more help . Good luck <3
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