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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

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Analysis of the general environment enables a firm to identify: a. capabilities b. opportunities and threats c. strategic resour
attashe74 [19]

Option B

Analysis of the general environment enables a firm to identify: opportunities and threats

<u>Explanation:</u>

The general environment usually has a sturdy impact on a firm's level of achievement, officials must pursue biases and circumstances as they emerge and attempt to envision the associations of these biases and circumstances.

The environmental inquiry is an imperative tool. It is a manner to distinguish all the outside and subjective factors, which can influence the organization’s execution. The review involves valuing the level of threat, an opportunity the determinants might impersonate. These determinants are succeeding rendered into further means.

6 0
3 years ago
On December 31, 2020, McDaniel Company had $1,200,000 of short-term debt in the form of notes payable due February 2, 2021. On J
icang [17]

Answer:

Current Liabilities:Notes Payable 250,000

Long-term Debt:Notes Payable 950,000

Explanation:

Calculation to Show how the $1,200,000 of short-term debt should be presented on the December 31, 2017, balance sheet.

Hattie McDaniel Company

Partial Balance Sheet

December 31, 2017

CURRENT LIABILITIES

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($1,200,000-$950,000)

LONG-TERM DEBT

Notes Payable 950,000

Therefore how the $1,200,000 of short-term debt should be presented on the December 31, 2017, balance sheet is:

Current Liabilities:Notes Payable 250,000

Long-term Debt:Notes Payable 950,000

4 0
3 years ago
Marketing links producers to
satela [25.4K]
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What is the maximum limit for discount on issue of debentures?
Dmitry [639]

Answer:

A company may issue shares at a discount i.e at a value below its par value. The following conditions must be satisfied in connection with the issue of shares at a discount :

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Issue of the shares at discount must be authorised by resolution passed in the general meeting of company and sanctioned by the company law board.

The resolution must also specify the maximum rate of discount at which the shares are to be issued

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The discount must not exceed 10 percent unless the Company Law Board is of the opinion that the higher percentage of discount may be allowed in special circumstances of case.

Hope this helps

6 0
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Your employer withholds money from each paycheck. what is this money used for?
sukhopar [10]
some of their employees' pay in order to cover payroll taxes and (((income tax))).Money may also be deducted, or subtracted, from a paycheck to pay for retirement or health benefits.
6 0
2 years ago
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