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nata0808 [166]
3 years ago
7

Grey Corporation has $100,000 of accounts receivable on December 31. The unadjusted balance of its Allowance for Doubtful Accoun

ts is a credit of $1,000. Experience suggests 5 percent of its receivables will be uncollectible. The amount that should be debited to Bad Debt Expense and credited to Allowance for Doubtful Accounts in the year-end adjusting entry is:
Business
1 answer:
larisa [96]3 years ago
7 0

Answer: $4000

Explanation:

Amount receivable = $100,000

Allowance for uncolletible account  at 5%= 5% x 100,000 =$5000

Adjusted balance for Allowance for doubtful accounts  = credit of $1000

Bad Debit Expense = Allowance for uncolletible account  - Adjusted credit balance on doubtful accounts=$5000-$1000= $4000

JOURNAL ENTRY

Date          Accounts          Debit            Credit

31 Dec      Bad Debts       $4000

Allowance for doubtful account              $4000

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In a period of rising prices, the inventory method that produces the lowest ending inventory is the:
Dmitry [639]

Answer:

LIFO Periodic method

Explanation:

The LIFO means Last In First Out this means that item that have been stocked today would be sold first although there’s still some inventory from previous periods.

Using LIFO would result in lower ending inventory because closing inventory would be valued at low price which they had been bought assuming that there’s now a hick in price and goods in the warehouse were stocked when prices were low.

LIFO is used for the manipulation of profit.

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3 years ago
Monica is interested in changing careers, and she needs to find a job Web site that lists careers from all industries. What type
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Depending on her area and expertise i would recommend a state website or a government approved agency 
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3 years ago
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An employee starts the execution of an OLAP application that uses a lot of computational resources while executing.​ Normally, t
denpristay [2]

Answer:

(D) denial of service

Explanation:

Denial of service -

It is a type of cyber - attack where offender tries to make the source of network or the machine unavailable for the user via disturbing the service of the of the internet .

The task of denial of service is done by flooding the machine or the source with many requests in a way to overload the system .

Hence , from the question , the example shown in the question is about denial of service .

8 0
3 years ago
Lisa Smith has her age listed on her driver's license as being three years younger than it actually is. This is also how old she
Lubov Fominskaja [6]

Answer:

Misstatement of age

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If the insurance company knows that a person has intentionally lied about his/her age, they will adjust the insurance amount and premium to match the correct age of the insured. E.g. in this case, Lisa will probably be required to pay a higher premium on her policy, and depending on her age, the insurance amount might be lower.

4 0
3 years ago
john’s friend, michael, just got fired from his job as a server at a local restaurant. after michael is done telling his story a
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In a case whereby john’s friend, Michael, just got fired from his job as a server at a local restaurant and narrated the issue to John, and John says "so, your boss took the customer’s words over yours, then John means that his boss do not trust him.

<h3>What is the trust between the employee and employer?</h3>

The trust between the employee and employer can be seen as one that do make the relationship between the employer as well as the employee to be strong.

It should be noted that the Trust in the workplace  implies that there is a culture of honesty as well as psychological safety which exist between the employee as well as the employer, hence in the case whereby the employer is acting against the employee as a result of the comments from the customer without any investigation implies that there is no trust between them which is not adviceable.

Learn more about customer at:

brainly.com/question/1286522

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5 0
1 year ago
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