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
Dima020 [189]
3 years ago
13

In the balance sheet at the end of its first year of operations, Dinty Inc. reported an allowance for uncollectible accounts of

$82,600. During the year, Dinty wrote off $30,400 of accounts receivable it had attempted to collect and failed. Credit sales for the year were $2,310,000, and cash collections from credit customers totaled $1,920,000. What bad debt expense would Dinty report in its first-year income statement
Business
1 answer:
SashulF [63]3 years ago
6 0

Answer:

$113,000

Explanation:

Calculation to determine What bad debt expense would Dinty report in its first-year income statement?

Using this formula

Bad debts expense - Write-offs = Change in Allowance balance

Bad debts expense = Change in Allowance balance + Write-offs

Let plug in the formula

Bad debts expense=$82,600+$30,400

Bad debts expense=$113,000

Therefore the bad debt expense that Dinty would report in its first-year income statement is $113,000

You might be interested in
Which example BEST illustrates that GDP (gross domestic product) is not always a good indicator of economic health?
Vaselesa [24]
<span>
 Which example BEST illustrates that GDP (gross domestic product) is not always a good indicator of economic health? </span><span><span>A)<span>The GDP falls when consumer spending declines.
</span></span><span>B)<span>Money spent repairing hurricane damage helps raise the GDP. 
</span></span><span>C)<span>Goods produced for infrastructure projects help raise the GDP. 
</span></span><span>D)<span>The GDP falls because scarcity of materials slows the rate of production.</span></span></span>
6 0
3 years ago
Read 2 more answers
For the following scenario, calculate the surplus and indicate if it is a producer surplus or a consumer surplus. Alice is willi
Sedaia [141]

Answer:

a) consumer

$5

Explanation:

Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.

Willingness to pay is the highest amount a consumer would be willing to pay for a product. The willingness to pay in this question is $30.

The price of the goods is $35 but Alice would pay ($35 - $10) = $25

The consumer surplus is $30 - $25 = $5

Producer surplus is the difference between the price of a product and the lowest price a supplier would be willing to sell his product.

I hope my answer helps you.

6 0
3 years ago
Which type of ad agency is most likely to offer its clients an extensive range of marketing, communications, and promotions serv
aivan3 [116]

Answer: B. Full Service Agency

Explanation: The above agency would provide all the necessary services to its clients -an extensive range of marketing, communications, and promotions services, including planning, creating, and producing the advertising; performing research; and selecting media?

6 0
3 years ago
Workhorse Air Crane Corporation employs aircraft mechanics, computer programmers, outside salespersons, and professionals, inclu
xenn [34]

Workhorse Air Crane Corporation employs aircraft mechanics, computer programmers, outside salespersons, and professionals, including pilots. Employees exempt from the Fair Labor Standards Act's overtime provisions include all of the following except​ (A) aircraft mechanics

Explanation:

Section 13(a)(1) of the <u>Fair Labor Standards Act's-FLSA</u> provides an exemption from both minimum wage and  overtime pay for employees who are employed as<u> bonafide executive, administrative, professional and  outside sales employees. </u>

Section 13(a)(1) and Section 13(a)(17) of <u>Fair Labor Standards Act's </u>also exempt certain computer  employees.

To qualify for exemption under the <u>Fair Labor Standards Act</u> , employees generally must meet certain tests regarding their  job duties and be paid on a salary basis at not less than $684* per week.

6 0
3 years ago
The aggregate demand curve slopes downward indicating that
Likurg_2 [28]

Answer: Diminishing marginal utility.

Explanation: The demand curve tends to slopes downward because of diminishing marginal utility and it also slopes downwards because of the substitution and income effects.

4 0
3 years ago
Other questions:
  • You borrowed $185,000 for 30 years to buy a house. The interest rate is 4.35 percent, compounded monthly. If you pay all of your
    13·1 answer
  • Donaldson's purchased some property for $1.2 million, paid 25 percent down in cash, and financed the balance for 12 years at 7.2
    5·1 answer
  • A lottery claims its grand prize is $10 million, payable over 20 years at $500,000 per year. If the first payment is made immedi
    11·1 answer
  • After teaching a class on game theory. your instructor announces that if every student fails to post on the last discussion boar
    8·1 answer
  • If you invest $5,000 in a simple interest account at 1.8 percent for 5 years, what is the amount in the account at the end of 5
    8·2 answers
  • What are tax credits?
    6·1 answer
  • YouEye is developing eye tracking technology that works with an individual’s webcam. Instead of needing to spend thousands of do
    12·1 answer
  • Which of the following statements is generally true about arbitration? Group of answer choices Courts may set aside an arbitrati
    7·1 answer
  • A higher rate of investment now will generate Multiple Choice more future inflation. more future production. more current consum
    5·1 answer
  • The federal and most state judicial branches have at least these three levels in the court system:
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!