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Tanya [424]
2 years ago
7

What is the cost driver for rent expense? ​

Business
1 answer:
LuckyWell [14K]2 years ago
4 0
Ahhhhh please help me thanks
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Management estimates that 1% of the $100,000 of credit sales will be uncollectible. The Allowance for Doubtful Accounts has a $1
Vitek1552 [10]

The Adjustment entry to record the estimated bad debts include debit to Bad Debt Expense of $900 and credit to Allowance for Doubtful Accounts of $900. Thus 2nd and 5th options are correct.

<h3>What is Bad debt?</h3>

Bad Debt refers to the amount of loan which cannot be recovered. It is an outstanding balance which is irrecoverable. Thus in simply words it means the amount which will not be paid by the customer.

According to the given question, The credit balance is $100  in Allowance for Doubtful Accounts.

The credit sales method a specific percentage of credit sales represent bad debts of the previous period. Thus the difference amount comes under Allowance for Doubtful Accounts.

Journal Entry for the estimated bad debts is as follows:

DR. BAD DEBT EXPENSE                                           $900

To CR. ALLOWANCE FOR DOUBTFUL ACCOUNTS                     $900

Learn more about Bad Debt here:

brainly.com/question/13794933

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7 0
1 year ago
Ayesha is a strategist for the firm Optiks Inc., which produces high-quality HD movie cameras. This company needs a specific mat
aniked [119]

Answer:

Optiks should acquire Expert Technology.

5 0
2 years ago
Sarah purchased 75 sweaters from a wholesaler for $16 each. She wants the markup percentage to be 18 percent. How much will Sara
MakcuM [25]
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3 0
2 years ago
Were Social Security and Medicare the largest contributors of revenue for the federal government in Fiscal Year 2019? Explain.(1
Bingel [31]

It is false because the individual income taxes contributed about $1.718 trillion in Fiscal Year 2019 while Social Security and Medicare taxes only contributed $1.242 trillion.

<h3>What is an Income tax?</h3>

These are tax imposed on earned income by people in a country while the Social Security and Medicare taxes are imposed on people income while working as well.

However, the individual income taxes contributed about $1.718 trillion in Fiscal Year 2019 while Social Security and Medicare taxes only contributed $1.242 trillion.

Therefore, the Option C is correct.

Read more about Income tax

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5 0
2 years ago
Read 2 more answers
Wilson Enterprises applies overhead based on direct labor cost. The company estimates that their overhead for the year will be $
Tcecarenko [31]

Answer:

Applied Overhead is higher than actual overhead. Hence, manufacturing overhead is $ 4,000

Explanation:

Given data:

estimated overhead = $2,40,000

Labor cost =$2,80,000

Direct labor cost = $3,00,000

Overhead\  rate = \frac{Estimated\  Overhead}{Estimated\ direct\ labor\ cost}

                        = \frac{2,40,000}{3,00,000}      

                         = $ 0.80 per direct labor cost      

Applied\ Overhead = Actual\  Labor\ cost\times Overhead\ rate      

                             = $ 2,80,000\times $ 0.80 Per direct labor cost  

                             =$ 2,24,000        

Actual Overhead cost = $ 2,20,000        

Applied Overhead is more than actual overhead. Hence, manufacturing overhead is $ 4,000.

6 0
3 years ago
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