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
blsea [12.9K]
3 years ago
8

Allowance for Doubtful Accounts has a debit balance of $533 at the end of the year (before adjustment), and Bad Debt Expense is

estimated at 4% of sales. If net credit sales are $947,400, the amount of the adjusting entry to record the estimate of the uncollectible accounts is
Business
1 answer:
baherus [9]3 years ago
3 0

Answer:

See below

Explanation:

Given the above information, the amount of the adjusting entry to record the estimated uncollectible account receivable is computed as seen below;

= Bad debt expense × Net credit sales

= 4% × $947,400

= $37,896

Then,

=Balance - Allowance for doubtful account (debit balance)

= $37,896 - $533

= $37,363

Then, the amount of the adjusting entry to record the estimated uncollectible account receivable is $37,363

You might be interested in
Which of the items listed below are public services commonly found in societies?
Law Incorporation [45]

public schools and public water supply

8 0
3 years ago
Read 2 more answers
Based on this income statement for Company XYZ for the year ending December 31, 2014, what adjustment would need to be made to N
RoseWind [281]

Answer:

a) Adjustment of (16,000) in the operating section.

Explanation:

While preparing the operating activities section of the cash flow statement, the net income, depreciation expense, amortization expense, loss on sale of an asset should be added and the profit on sale should be deducted

So there is the loss of $30,000 that should be added and the gain on sale should be deducted i.e. $46,000

So there is an adjustment of -$16,000 in the operating activities section

6 0
3 years ago
Read 2 more answers
Cash larceny involves stealing cash from an organization before it is recorded on the organization’s books and records.
viktelen [127]

Answer:

False

Explanation:

Cash larceny is the action of stealing company cash  already been registered in the books of accounts for a specific accounting  period. An employee of the company perpetrates the theft. It involves the employee scheming and executing the taking away of cash recorded in the books without the employer's authority.

Cask larceny happens in the cash register,  in the safe, or from cash deposits in transit. In most instances, larceny involves small amounts of money. As the cash is recorded in the books of accounts, larceny can be detected with proper cash reconciliation.

8 0
3 years ago
Select the TWO True statements about the Selection of Distribution Channels:
sladkih [1.3K]

There are different kinds of distribution channels. The True statements about the Selection of Distribution Channels are:

  • Product price has no effect on the length of a distribution channel.

  • The geographic location of customers does not require different distribution channels

The channel of distribution are classified based on:

  • The Nature of the Product
  • The Nature of the market
  • The Nature of Middlemen
  • The nature and size of the manufacturing etc.

The channel of distribution is also known as marketing channel. They are simply known as different types of interdependent organizations that are engaged in the process of making a product or service available for use or consumption.

Learn more about Distribution channels from

brainly.com/question/25736500

7 0
3 years ago
Its actually Economics(subject)
dimulka [17.4K]
The correct answer is Tariffs, Increase.
Your welcome Like, Rate and Follow.
4 0
3 years ago
Other questions:
  • Any establishment formed to carry on commercial enterprises is a
    10·1 answer
  • ________ feasibility refers to projecting whether the system will operate and be used once it is installed.
    8·1 answer
  • Your manager has asked you to recommend which of two new types of digital camera to buy for your company's publications departme
    12·1 answer
  • On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 60 million, $2.00 par, common shares, t
    8·1 answer
  • 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
    9·1 answer
  • Which statement best summarizes the role of businesses in the flow of
    12·2 answers
  • Trudy’s monthly expenses are outlined in the chart below. Trudy’s job pays her $36,000 annually. Determine Trudy’s DTI (debt-to-
    13·2 answers
  • Pat, an insurance executive, contributed $1,000,000 to the re-election campaign of Governor Stephens, in hopes that Stephens wil
    7·1 answer
  • g A(n. ________ determines which areas of a firm's operations represent strengths or weaknesses (currently or potentially. compa
    15·1 answer
  • Effective managers understand the importance of clear communication using different channels to advance the _________ strategy.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!