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Shkiper50 [21]
3 years ago
12

If Modern Company received $3,650 from Connor Young Company on March 12 for the total amount of an account which had been writte

n off on March 1, the entry to reinstate the account under the allowance method would include
Business
1 answer:
joja [24]3 years ago
3 0

Answer:

Please post the full question together next time.

If Modern Company received $3,650 from Connor Young Company on March 12 for the total amount of an account that had been written off on March 1, the entry to reinstate the account under the direct write-off method would include:______.

a. a debit to Allowance for Doubtful Accounts of $3,650.

b. is the same as it would be under the allowance method.

c. includes a credit to Bad Debt Expense of $3,650.

d. includes a credit to Cash of $3,650.  

Explanation:

Under the direct write-off method ,

the journal entry is Bad debt expense A/c Dr XXXXX      

To Account receivable A/c XXXXX

(Being the bad debt expense is recorded)

For recording this journal entry,  we Debited the  bad debt expense and credited the account receivable

This is the answer. Hence, all the given options are incorrect  

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svlad2 [7]

Answer: The correct answer is "b. comb and sort the fibers.".

Explanation: Once these were complete, the next step would be to <u>comb and sort the fibers.</u>

The first step was to gather and clean the fibers and then comb and classify the fibers according to their nature.

8 0
3 years ago
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NARA [144]

Klamath corporation has insufficient information to find ROE.

Return on equity (ROE) is the degree to of an agency's internet earnings are divided by using its shareholders' equity. ROE is a gauge of a corporation's profitability and how successfully it generates one's income. The better the ROE, the higher an employer is at changing its fairness financing into income.

ROE is used while evaluating the monetary performance of agencies within the identical enterprise. it's far a measure of the capability of management to generate earnings from the equity available to it. A go-back of between 15-20% is considered good.

The return on equity is a degree of the profitability of an enterprise with regard to fairness. Because shareholder's equity may be calculated with the aid of taking all belongings and subtracting all liabilities, ROE also can be the idea of a return on belongings minus liabilities.

ROE=Profit margin*Total asset turnover*Equity multiplier

Hence since Equity multiplier data is not given.

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4 0
1 year ago
A global recession might limit the benefits of diversifying your investments because:________
Natasha2012 [34]

A global recession might limit the benefits of diversifying your investments because most investments may perform poorly if all countries are in a recession

A prolonged period of worldwide economic contraction is referred to as a global recession. As a result of trade links and international financial systems, economic shocks and the effects of recession spread from one nation to the next, causing more or less synchronized recessions in many national economies.

A decline in global per capita gross domestic product (GDP) is one of the factors the International Monetary Fund (IMF) employs to identify global recessions. The IMF defines this decline in global output as having to occur at the same time as a deterioration of other macroeconomic indices, such as trade, capital flows, and employment.

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6 0
1 year ago
Bonnie has decided to begin a retirement savings program where she will contribute to an account that will accumulate tax free t
ahrayia [7]

Answer:

This question is incomplete since the interest rate is not included and so is the requirement.  However, if it asking for the annual contributions Bonnie can make, you can calculate it as shown below and assuming a discount rate of 10%;

Explanation:

Since Bonnie's goal is $300,000, this will be the future value and you can use a financial calculator to solve for recurring deposits (PMT);

Time to retirement; N = 12

Interest rate; I/Y = 10%

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One time present cashflow; PV = 0

then compute the recurring deposits; CPT PMT = 14,028.995

Therefore, she will need to contribute $14,029 every year to meet her goal.

8 0
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