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Naya [18.7K]
3 years ago
13

ABC Company uses the allowance method for estimating bad debts. Record the following journal entries:

Business
1 answer:
Luba_88 [7]3 years ago
4 0

Answer:

Date       Account titles and Explanations          Debit     Credit

31 Dec    Bad debts expense                              $5,000

                    Allowance for uncollectible accounts           $5,000

              (To record bad debts expense recorded)

5 Mar      Allowance for uncollectible accounts  $1,200

                    Accounts receivable                                       $1,200

              (To record account written off)

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If a company raises money by issuing new stocks, a current shareholder has the right to purchase new shares on a pro rata basis
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Answer:

d. preemptive right

Explanation:

Preemptive rights refers to the clause that is included in a merger agreement or security that allows an investor to buy a proportionate number of shares to be issued in the future in order to protects him from losing his percentage ownership of a company.

The aim a preemptive right is to avoid a situation whereby the management of the company take over the control of the company by issuing and buying extra shares of the corporation to themselves. It basically aims to prevent the dilution of the value of stockholders.

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3 years ago
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Apple has been known to sell its products at higher rates than competitors, such as Microsoft, as it has been successful at conv
guapka [62]

Answer:

b. market power. 

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3 years ago
The type of shipping paper used in highway transportation is called a
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A company reports the following: Cost of goods sold $660,000 Average inventory 60,000 Determine (a) the inventory turnover and (
rusak2 [61]

Answer:

the inventory turnover is 11

while the average days outstanding is 33 days

Explanation:

<u>inventory turnover:</u>

the amount of times the inventory rotetes (is being sold) during the period

\frac{COGS}{AVERAGE\: INVENTORY }

660,000/60,000 = 11

The company sold his invenotry 11 times

<u>days outstanding :</u>

time to sale the entire inventory

if it rotates 11 times per year and the year has 365 days then:

\frac{365}{inventory_{TO}}

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In March​ 1963, Ironman was first introduced in issue number 39 of Tales of Suspense. The original price for that issue was 12 c
lidiya [134]

Answer:

24.73%

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(1 + i)ⁿ = future value / present value

annual interest rate = i

n = 52 years

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i = 1.2473 - 1 = 0.2473 = 24.73%

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3 years ago
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