Answer:
The amount of Uncollectible Account Expense reported on the income statement will be: $ 64,800
Explanation:
Jumpin Corporation
Percent of Sales method
Net credit sales $ 2 100 000,
Un collectible estimated 3%
Un collectibles Accounts = 3% of $ 2 100,000, = $ 63,000
Unadjusted Allowance for Un collectible Accounts $ 1, 800 Dr.
Required Adjustment = $ 64,800
The amount of Un collectible Account Expense reported on the income statement will be: $ 64,800
In the percent of sales method emphasis is laid on the matching principle in the income statement and amount of bad debts expense is subtracted from the accounts receivables.
Checking your profits vs expense, and seeing which areas generate more profit. From there, you can choose between putting more money into the areas that are more profitable to you & decreasing the amount of money into areas that don't do as well, or continue another season to see if it is the same (as results can vary depending on the supply vs demand)
hope this helps
Answer:
Cashflow from Operating Activities
Net Income $120,400
Adjastment for Non-Cash Items
Depreciation $5,300
Amortization $3,400
Adjastments of Items appearing elsewhere
Loss from the sale of land $4,000
Net Cash flow from operating activities $133,100
Explanation:
Net Income is reconciled in the cashflow statement via the indirect method. Its is adjasted for Non-Cash Items, Items appearing elsewhere in the cashflow statement and Working Capital Movements
Diligence is the idea that consumers and sellers do not meet on an equal footing, and that the interests of consumers run the risk of being particularly harmed by manufacturers who are tempted to purchase their products.
In sales, business, and economics, a customer is someone who buys something for money or other value from a vendor, vendor, or supplier. This person is also called the customer, purchaser, or purchaser.
There are four types of buyer-seller relationships: transactions, functions, partnerships and strategies. His four basic sales strategies used by salespeople are scripted selling, needs-satisfaction selling, consultative selling, and strategic partner selling.
Learn more about consumers here
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