There are a couple of questions in this:

Bramble Company uses the percentage of receivables method for recording bad debt expense. The accounts receivable balance is $59

shusha [124]

Answer and Explanation

Given:

Accounts receivable balance = $598,000

Percentage of receivables that are uncollectible = 5% or 0.05

Uncollectible receivables = 0.05 × 598,000 = $29,900

Adjusting journal entry to record bad debt expense is:

Particulars Debit Credit

Bad debts expense XXXXX

Allowance for doubtful debts XXXXX

(Being bad debts incurred)

Noe, Allowance for doubtful debts has a credit balance of $4,800.

Bad debt incurred = 29,900 - 4,800 = $25,100

So adjusting entry :

Particulars Debit Credit

Bad debts expense $25,100

Allowance for doubtful debts $25,100

(Being bad debts incurred)

7 0

3 years ago

How is the russian economy adjusting to the difficulties of a centrally planned economy?

yanalaym [24]

When we say centrally planned economy, this means that the economy is being controlled and managed by the government rather than the individual businesses between the owners and the consumers. There was a time that the Russian economy found it difficult to adjust and the way how they adjusted is by modifying the economy. The modification included free market practices which enabled individual owners to gradually balanced their businesses.

8 0

3 years ago

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An online retailer uses complex data-mining software to evaluate the preferences and buying habits of its customers and makes de

boyakko [2]

Answer:

TRUE - Analytics

Explanation:

Analytics is the systematic process of finding, interpreting and communicating meaningful patterns found in data. Ot involves the examination of data using mathematical methods.

The online retailer used analytics in order to understand the consumers behaviors and then to be able to make decisions from result gotten rather than the use of "gut" feeling or intuition which isn't backed by data or facts.

The use of analytics in business making decisions generally improves profits margins, efficiency and risk management.

7 0

3 years ago

Determine the missing amount from each of the separate situations given below.Assets = Liabilities + Equity(a) x = $84,000 + $47

sdas [7]

Answer:

(a) X = Total assets = $131,000

(b) X = total equity = $90,000

(c) X = total liabilities = $90,000

Explanation:

In this type of question, we use the accounting equation which is equals to

Total assets = Total liabilities + Total equity

This accounting equation is used to balance the financial statements so that proper accuracy and analysis can be made.

(a) X = $84,000 + $47,000

X = $131,000

X here means total assets.

(b) $120,000 = $30,000 + x

$120,000 - $30,000 = X

X = $90,000

Here, X = Total equity

(c) $152,000 = x + $62,000

$152,000 - $62,000 = X

X = $90,000

Here, X = Total liabilities

Hence, (a) X = Total assets = $131,000

(b) X = total equity = $90,000

(c) X = total liabilities = $90,000

4 0

3 years ago

A ___________ to A/P represents cash paid to creditors.

lyudmila [28]

The normal side of account payable is on the credit side which means the supplies, services, or purchases a company bought is on credit terms. This is used as opposed to cash when you can't pay for the purchase yet. So, a debit to accounts payable means there is a payment made to a supplier or vendor.

6 0

3 years ago

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