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juin [17]
3 years ago
10

At the end of the current year, using the aging of receivable method, management estimated that $24,750 of the accounts receivab

le balance would be uncollectible. Prior to any year-end adjustments, the Allowance for Doubtful Accounts had a debit balance of $675. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense
Business
1 answer:
mihalych1998 [28]3 years ago
7 0

Answer:

Dr Bad Debt Expense $25,425

Cr Allowance for Doubtful Accounts $25,425

Explanation:

Based on the information given the appropriate adjusting entry should the company make at the end of the current year to record its estimated bad debts expense will be

Dr Bad Debt Expense $25,425

Cr Allowance for Doubtful Accounts $25,425

($24,750+$675)

(To record estimated bad debts expense )

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A company produces 100 cars in the year 2017 but only manages to sell 90 of the cars. In the year 2018 they sell the 10 cars tha
forsale [732]

Answer:

The question has below options:

A. The unsold cars count as inventory investment for 2017. 2018 GDP is not affected.

B.The unsold cars count as consumption spending in 2018.

C. The unsold cars count in the inventory investment category for both years and count as consumption spending in 2018.

Option B is the correct answer

Explanation:

The unsold stock of 10 cars in 2017 is classified as investment  since  the cost of producing them is expected to yield returns in 2018 when they have been sold.

However, the unsold stock of 2017 becomes 2018 consumption of GDP since it relates to household expenditure in 2018, as a result it is accorded such classification.

It cannot be classified as government expenditure as the government is not the one purchasing the vehicle

Also, the ten cars have nothing to do with import or export as they are trade within the domestic economy

7 0
3 years ago
Which of the following businesses is NOT possible to be rivaled?
Luba_88 [7]

Answer:

A. an electric company

Explanation:

Among all the options given above, it is an electric company that cannot be rivaled due to the fact that, all household definitely need electricity in-order to power their home. Due to the nature of the company and how capital intensive it is, it would always be in demand by the people.

7 0
3 years ago
The profile of five partnerships firms
Ilia_Sergeevich [38]
The 5 Partnership Firms:
(Chronological order)

1) "Contract for Partnership"

2) "Maximum number of Partnership is 20"

3) "Carrying on business with Partnership"

4) "Sharing on profit with Partnership"

5) "Mutual Agency in a Partnership"

These are the five profiles of Partnership in any corporate agency
3 0
3 years ago
Investment A pays 8 percent simple interest for 10 years. Investment B pays 7.75 percent compound interest for 10 years. Both re
Dafna11 [192]

Answer:

$3.344,67

Explanation:

Investment A( Simple interest) =  Cf= Ci x(1+(ixn)) = $10.000 x(1+0,0775*10)=

$17.750

Investment B (Compound interest)= Cf= Ci x(1+i)^n = $10.000 (1+0,0775)^10=

$ 21.094,67

A - B = $17.750 - 21.094,67 =  - $3.344,67

4 0
3 years ago
When individuals or groups are in the process of purchasing a company, this action is known as being a stakeholder.?
Anit [1.1K]
Stakeholders are someone or agroup of ppl that are interested in the business
4 0
3 years ago
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