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SpyIntel [72]
3 years ago
14

Accounts receivable $ 35,000 debit Allowance for uncollectible accounts 500 credit Net Sales 180,000 credit All sales are made o

n credit. Based on past experience, the company estimates that 0.6% of net credit sales are uncollectible. What amount should be debited to Bad Debts Expense when the year-end adjusting entry is prepared? Multiple Choice $2,500 $1,080 $1,775 $1,275 $1,500
Business
1 answer:
SCORPION-xisa [38]3 years ago
5 0

Answer:

$1,080

Explanation:

Calculation for the amount that should be debited to Bad Debts Expense

Using this formula

Bad Debts Expense=Net Sales× Percentage of net credit sales uncollectible.

Let plug in the formula

Bad Debts Expense=180,000 credit×0.6%

Bad Debts Expense=$1,080

Therefore the amount that should be debited to Bad Debts Expense when the year-end adjusting entry is prepared will be $1,080

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In the month of June, a department had 19900 units in beginning work in process that were 75% complete. During June, 90200 units
balandron [24]

Answer:

103,500 units

Explanation:

Equivalent units calculation - conversion costs

Completed and transferred units (99,100 x 100 %)   = 99,100 units

Ending Work in Process units (11000 x 40%)             =  4,400 units

Total Equivalent units                                                  = 103,500 units

therefore,

The equivalent units of production for conversion costs for June were 103,500 units

7 0
3 years ago
A brick fence straddles the property line of two neighbors. The neighbors agree not to damage it in any way. This is an example
Vadim26 [7]

Answer:

A party wall  

Explanation:

A party wall  

A Party wall which sometimes also called a parting wall is referred to that wall which is used or shared by both property owners.  The purpose of this wall is to separate the two adjoining owners, therefore, thickness varies from 9 to 12 inches. Party wall agreement need to signed between both sharing owners to make any repair work on the party wall.

4 0
3 years ago
Ocean Vessels, Inc., and Pacific Harbor Company enter into a contract for a sale of a boat. Ocean is a merchant who deals in goo
UNO [17]

Answer:

d.​regardless of what Ocean knew or could have discovered.

Explanation:

The uniform commercial code are a set of rules that govern transactions involving sale of goods. One of such rules is the implied warranty of merchantability.

When goods are sold there is an implied warranty that the item will perform up to a particular level.

For example if one buys a television not is expected that the television will work. If it does not come on, implied warranty has been breached.

So in this case regardless of what Ocean knew or could have discovered, selling defective goods is a breach of implied warranty of merchantability.

7 0
3 years ago
The credit portion of the adjustment for the depletion of a coal mine was credited to the Coal Mine account. This error would ca
alex41 [277]

its not b. the periods net income to be understated

7 0
2 years ago
As Bart Brownlee approached retirement, he decided the time had come to invest some of his nest egg in a conservative fund. He c
Lunna [17]

Answer:

$1,487.5 is the amount of commission (load) Bart must pay

Explanation:

Commision to be paid :

which is equal to

=$35000*4.25%

which is equal to

=$1487.5.

3 0
3 years ago
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