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
Ymorist [56]
3 years ago
7

Sanders Company has a debit balance of $7,000 in its Allowance for Doubtful Accounts before any adjustments are made. Based on a

review of its accounts receivable at the end of the year, Sanders estimates that $70,000 of its receivables are uncollectible. The amount of bad debt expense which should be reported for the year is $70,000. $7,000. $77,000. $63,000. $70,000.
Business
1 answer:
Bess [88]3 years ago
8 0

Answer:

$77,000

Explanation:

Calculation to determine what The amount of bad debt expense which should be reported for the year is

Using this formula

Bad debt expense=Allowance for Doubtful Accounts debit balance +Estimated uncollectible receivables

Let plug in the formula

Bad debt expense=$7,000+$70,000

Bad debt expense=$77,000

Therefore The amount of bad debt expense which should be reported for the year is $77,000

You might be interested in
An organization accused of illegal discrimination may be able to successfully defend its employment practices by showing that th
alexgriva [62]

Answer:

a bona fide occupational qualification

Explanation:

Bona Fide Occupational Qualification is a term used to describe a type of discrimination that is not illegal, even if it seems. It is a positive discrimination used by companies to hire new employees, when necessary, based on factors that are considered discriminatory such as gender, religion, nationality, among others.

An example of this can be seen when the film recording industry needs to hire an Asian actor to play a character of Asian origin. This industry uses nationality as a discriminatory factor to hire someone, but in this scenario, this does not discriminate.

8 0
3 years ago
Read 2 more answers
Colorado Real Estate Commission Rule E-4 and E-5 give direction about retaining the needed contracts after closing a transaction
lana [24]

Answer:

According to Colorado Real Estate Commission Rule E-4 and E-5, copies that are exceptions to the rule include; notes, mortgages, deeds and trust deeds.

Furthermore, settlement sheets, listings, and any other document that it is required for the parties to impend their signatures, have to be retained for a period of four years even after closing a transaction or a contract.

Explanation:

3 0
3 years ago
Pool Perfection provided pool maintenance services worth $1,600 during July; in June, the customers had paid in advance for thes
arlik [135]

Answer:

$1,600

Explanation:

It is important to note that the company uses accrual basis accounting. The Service Revenue account should be credited for $1,600

7 0
3 years ago
Select the correct answer.
nasty-shy [4]
It’s debtor because of the user
5 0
2 years ago
Krepps Corporation produces a single product. Last year, Krepps manufactured 20,000 units and sold 15,000 units. Production cost
slega [8]

Answer:

Under variable costing, the company's net operating income for the year would be $60,000 lower than under absorption costing.

Explanation:

The computation of the operating income under variable costing is shown below:

But before that following calculations need to be done

Fixed manufacturing overhead per unit is

= $240,000 ÷ 20,000 units

= $12 per unit

Ending Inventory units is

= 20,000 units - 15,000 units

= 5,000 units

Now Cost of ending Inventory deferred under absorption costing is

= 5,000 units × $12

= $60,000

So, the second option is correct

5 0
3 years ago
Other questions:
  • A taxpayer who claims the standard deduction will not be subject to the 2 percent floor on unreimbursed employee expenses.
    7·1 answer
  • The Company deposits $6,900 in an account that earns interest at an annual rate of 8%, compounded quarterly. The $6,900 plus ear
    6·1 answer
  • g "With respect to the types of information systems used in organizations, financial, operations, and human resource management
    14·1 answer
  • Which of the following transactions would be least likely to have an effect on the net income for 2020? A : Stock purchased in 2
    12·1 answer
  • Patterson Brothers recently reported an EBITDA of $16.5 million and net income of $2.6 million. It had $2.0 million of interest
    14·1 answer
  • Two studies found a link between exchange rates and the stock prices of U.S. firms; a. this suggests that exchange rate changes
    11·1 answer
  • Why does a comma need to follow the word rain in this sentence?this is the following question, The weather guy said that it was
    8·1 answer
  • Assume that you are a new analyst hired to evaluate the capital budgeting projects of the company which is considering investing
    11·2 answers
  • Which of the following statements is​ false?A. In a​ make-to-order environment, the forecasts tend to be for groups of products.
    9·1 answer
  • On July 1, 2020, Swifty Company purchased for $6,120,000 snow-making equipment having an estimated useful life of 5 years with a
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!