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Ilya [14]
3 years ago
7

Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $2

,000 uncollectible account of its customer, A. Hopkins. On July 10, Gideon received a check for the full amount of $2,000 from Hopkins. On July 10, the entry or entries Gideon makes to record the recovery of the bad debt is:________
A. Accounts Receivable-A. Hopkins 2,000
Allowance for Doubtful Accounts 2,000
Cash
Accounts Receivable-A. Hopkins 2,000
B. Cash 2.000
Bad debts expense 2,000
C. Accounts Receivable-A. Hopkins
Bad debts expense 2,000
Cash 2,000
Accounts Receivable-A. Hopkins
D. Accounts Receivable-A. Hopkins 2,000
Bad debts expense 2,000
Cash 2,000
Accounts Receivable-A. Hopkins 2,000
E. Allowance for Doubtful Accounts 2,000
Accounts Receivable-A. Hopkinse 2,000
Accounts Receivable-A. Hopkins 2,000
Cash 2,000
F. Cash 2,000
Accounts Receivable-A. Hopkins 2,000
Business
1 answer:
deff fn [24]3 years ago
8 0

Answer:

A. Accounts Receivable-A. Hopkins 2,000

Allowance for Doubtful Accounts 2,000

Cash

Accounts Receivable-A. Hopkins 2,000

B. Cash 2.000

Explanation:

Based on the information given if July 10, Gideon received a check for the full amount of $2,000 from Hopkins which means that On July 10, the entry or entries that Gideon makes to record the recovery of the bad debt is:

Accounts Receivable 2,000

Allowance for Doubtful Accounts 2,000

To receive cash

Cash 2,000

Accounts Receivable 2000

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nataly862011 [7]

Answer:

According to the numbers in the article

smoking among adults is inelastic because the percent change in price is less than the percentage change in quantity demanded.

Explanation:

Inelasticity means that price changes do not affect the demand for smoking among adults.  When the habits of consumers to smoke are not determined by the change in the price of the item, the demand is described as inelastic.  In other words, a change in the price of the good or service does not generate a corresponding change in the quantity demanded. Inelasticity, as an economic term, states that the quantity demanded of a good or service remains static when there is a change in its price.

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3 years ago
Question #1
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3 years ago
A publisher for a promising new novel figures fixed costs​ (overhead, advances,​ promotion, copy​ editing, typesetting, and so​
alisha [4.7K]

Answer:

5,409 books

Explanation:

to calculate break even point in units we can use the following formula:

break even point in units = total fixed costs / contribution margin per unit

  • total fixed costs = $53,000
  • contribution margin per unit = sales price - variable costs = $12 - $2.20 = $9.80

break even point in units = $53,000 / $9,80 = 5,408.16 ≈ 5,409 books

in $, that would equal = 5,409 books x $12 per book = $64,908

5 0
3 years ago
Read 2 more answers
Action learning uses challenging, structured outdoor activities, which include difficult sports.A. TrueB. false
mixas84 [53]

Answer: The answer is True.

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3 years ago
Elite Trailer Parks has an operating profit of $307,000. Interest expense for the year was $32,000; preferred dividends paid wer
ollegr [7]

Answer:

a. $8.33

$1.95

b.$136,500

Explanation:

The computation of earnings per share and the common dividends per share is shown below:-

a. Earning per share = Earnings Available to Common Stockholders ÷ Number of Shares of Common Stock Outstanding

= $178,300 ÷ 21,400

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b. Increase in retained earnings = Operating Profit (EBIT) - Interest expense - Taxes - Preferred dividends - Common dividends

= $307,000 - $32,000 - $65,100 + $31,600 + $41,800

= $136,500

We simply applied the above formulas

7 0
3 years ago
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