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
laila [671]
2 years ago
6

On December 31, 2016 before adjusting entries, Accounts Receivable for Nickolas Company had a debit balance of $200,000, and the

Allowance for Doubtful Accounts had a credit balance of $6,000. Credit sales for the year were $1,600,000.
If credit losses are estimated at 1% of credit sales:

a. The balance of the Allowance for Doubtful Accounts will be $10,000 after adjustment.
b. The balance of the Allowance for Doubtful Accounts will be $22,000 after adjustment.
c. The balance of the Allowance for Doubtful Accounts will be $16,000 after adjustment.
d. Bad Debts Expense for the year will be $22,000.
Business
1 answer:
Karo-lina-s [1.5K]2 years ago
4 0

Answer:

b. The balance of the Allowance for Doubtful Accounts will be $22,000 after adjustment.

Explanation:

If credit losses are estimated at 1% of credit sales than balance of allowance for doubtful account after adjustment will be = $6,000 + $1,600,000 * 1%

= $6,000 + $16,000

= $22,000

You might be interested in
6. The split-level home is a variation of the
grigory [225]

Answer:

O C. Victorian house.

4 0
2 years ago
Read 2 more answers
I need this right now.
mamaluj [8]

Answer:

Sorry cant help with this

Explanation:

4 0
2 years ago
Read 2 more answers
you are billed $300 at 5% simple interest for 2 years but given an opportunity to pay only 3% compound interest for 2 years. Whi
balandron [24]
This question is a bit tricky to answer because it does not state how often interest rate is applied so lets say for the simple 5% interest rate the rate of interest was calculated after 2 years you would pay a total interest of $15 since interest was only calculated once but for the 3% calculating every year with compound it would be a total of 18.27 dollars in interest but then you would have to calculate the 5% simple interest the same way which would total to $30 if calculated once a year being more than the 3% compound. But lets say interest is calculated once a month your total for the 5% simple interest would be $360 dollars interest for those 2 years and the 3% compound would be $406.97 dollars in interest. So over all the less amount of times interest compounds the less interest there is making it more worth than the simple but if the compounding occurs more frequently the simple 5% interest is more worth it. In this situation I think it might just be yearly interest which makes the 3% compound more worth taking for this short amount of time.
6 0
2 years ago
When people are led to think about their own _____, they are more attracted to a charismatic leader.
Naily [24]

When people are led to think about their own death they are more attracted to a charismatic leader.

The German sociologist Max Weber invented the idea of charismatic authority. It involves a kind of organisation or leadership where the leader's charisma confers authority. This contrasts with two other sorts of authority, namely traditional authority and legal authority. The three categories of authority that Max Weber identified are comprised of each of the three sorts.

The first time the word "charisma" came into use was in Saint Paul's writings to the fledgling Christian communities in the first century.

Learn more about Charismatic here

brainly.com/question/28099781

#SPJ4

5 0
11 months ago
The acronym now, when used by financial institutions, stands for ________ and is a type of interest-bearing checking account.
ololo11 [35]

The answer is negotiable order of withdrawal or short for the acronym NOW. The acronym NOW, when it is used in terms of financial institutions, in stands for Negotiable Order of Withdrawal, it is a type of interest-grossing checking account wherein a patron or customer is allowed to create drafts against cash held on deposit or in short words, the owner of the account can write an unlimited amount of checks for drafts or to be used.

5 0
3 years ago
Other questions:
  • Which of the following statements is TRUE of employee empowerment? Question 11 options: Jobs must be designed to give employees
    15·1 answer
  • Eastman Company had a $400 credit balance in Allowance for Doubtful Accounts at December 31, 2012, before the current year's pro
    14·1 answer
  • For banquets, meals are placed on plates using a "plating belt" that moves plates past staff who place food on each plate. If pl
    11·1 answer
  • A small business owner visits his bank to ask for a loan. The owner states that she can repay a loan at $2,500 per month for the
    10·1 answer
  • "Total revenue equals the price multiplied by the quantity. The relative change price and quantity is given by the concept of __
    14·1 answer
  • What steps can you take to prevent yourself from being affected by a market correction? Explain.
    10·1 answer
  • In the current year, Jill, age 35, received a job offer with two alternative compensation packages to choose from. The first pac
    14·1 answer
  • Naging malinis ang daan saoanahon ng batas militar​
    10·1 answer
  • Karla bought her dress for the recital not because she liked the color and style, but because it made her feel good about hersel
    5·1 answer
  • With a tax of $4,000 on $20,000 of
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!