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andrew11 [14]
3 years ago
10

Wheeling Inc. uses the aging of accounts receivable method. Its estimate of uncollectible receivables resulting from the aging a

nalysis equals $7,100. At the end of the year, the balance of Accounts Receivable is $121,000 and the unadjusted debit balance of the Allowance for Doubtful Accounts is $920. Credit sales during the year totaled $192,000. What is the estimated Bad Debt Expense for the current year
Business
1 answer:
Nookie1986 [14]3 years ago
4 0

Answer:

$8,020

Explanation:

estimated uncollectible receivables = $7,100

accounts receivables = $121,000

unadjusted debit balance of allowance for uncollectible accounts = $920

credit sales during the year = $192,000

bad debt expense = unadjusted debit balance + estimated uncollectible receivables = $7,100 + $920 = $8,020

the adjusting journal entry:

Dr Bad debt expense 8,020

    Cr Allowance for uncollectible accounts 8,020

The allowance for uncollectible accounts account is a contra asset account that has a normal credit balance.

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Data for a Poisson with mean 10 A BigJet flight from Philadelphia to Boston has 60 seats. The high fare is $400 and the low fare
barxatty [35]

Answer:

Consider the following calculations

Explanation:

Co = low fare = $ 100

Cu = high fare - low fare = 400 - 100 = $ 300

Critical ratio = Cu/(Cu+Co) = 300/(300+100) = 0.75

In the table, look for F(q) >= 0.75 , that value is 0.792 and corresponding value of q = 12. Therefore,

Optimal protection level = 12

Refer the table for q=12, Expected shortage, L(q) = 0.5

Expected high fare seats to be sold = Mean demand - Expected shortage = 10-0.5 = 9.5

Probability of a full flight = 0.792

6 0
3 years ago
Observation of infants and toddlers entails
Juli2301 [7.4K]

Answer:

observation of infants and toddlers entail. Observation of infants and toddlers entail an ongoing process of thoughtful looking, listening, questioning, and looking again.

Explanation:

8 0
3 years ago
Holding all other forces constant, if decreasing the price of a good leads to an increase in total revenue, then the demand for
ArbitrLikvidat [17]

Holding all other forces constant, if decreasing the price of a good leads to an increase in total revenue, then the demand for the good must be elastic.

<h3>What is total revenue?</h3>
  • Total revenue is the total amount of money a seller can earn from offering clients goods or services.
  • The formula for this is PQ, or the purchase price times the quantity of the products sold.
  • A calculation or equation that describes how certain sources of revenue will behave on a graph.
  • The sum a corporation or business owner earns for the goods or services they sell during a given time period is known as total revenue.
  • The formula for total revenue assists business owners in determining whether to raise prices or provide a discount on their products.

Learn more about total revenue here:

brainly.com/question/13000391

#SPJ4

4 0
2 years ago
In the normal operation of business, you receive a check from a customer and deposit it into your checking account. With your ba
WINSTONCH [101]

Answer:

(B) subtract both values from balance according to books

Explanation:

Provided, that the check deposited in bank is NSF.

Therefore, it will not be cashed,

Although such balance was already added to book balance as per accounting records, therefore, such amount shall be subtracted from accounting balance.

Further bank provides the information of charges which was not considered earlier.

Therefore, such amount shall also be deducted from accounting records.

Thus both such amounts shall be deducted from balance according to books.

5 0
3 years ago
Pina Colada Corp. had the following transactions during 2022:
LenaWriter [7]

Answer:

D. $(254100)

Explanation:

CASH FLOW FROM FINANCING ACTIVITIES:

<em>Cash Receipts From:</em>

1. Issuance of Stock                                                      $302,500

<em>Cash Paid For:</em>

4. Dividend                                                                     $(24,200)

10. Repayment of Loan                                                $(532,400)

Net Cash Flow from Financing Activities                  $(254,100)

2. It is Operational Activity.

3. It is Investing Activity.

5. It is Investing Activity.

6. It is Operational Activity.

7.  It is Operational Activity.

8.  It is Investing Activity.

9.  It is Investing Activity.

7 0
3 years ago
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