Answer:
The effect the entry to recognize the uncollectible accounts expense for Year 2 will have on the elements of the financial statements are that it will reduce Accounts Receivable to $15,560 and the Allowance for Doubtful Accounts to $1,900 at the end of Year 2.
Explanation:
Credit sales estimated to be uncollectable = Credit sales * Estimated percentage uncollectable = $215,000 * 1% = $2,150
Ending account receivable = Beginning accounts receivable + Credit sales - Cash collected - Receivales written off as uncollectable - Credit sales estimated to be uncollectable = $76,000 + $215,000 - $271,100 - $2,100 - $2,150 = $15,560
Ending Allowance for Doubtful Accounts = Beginning Allowance for Doubtful Accounts - Allowance for Doubtful Accounts - Receivales written off as uncollectable = $4,000 - $2,100 = $1,900
Therefore, the effect the entry to recognize the uncollectible accounts expense for Year 2 will have on the elements of the financial statements are that it will reduce Accounts Receivable to $15,560 and the Allowance for Doubtful Accounts to $1,900 at the end of Year 2.
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Answer: $22000
Explanation:
The amount of Superior's dividend declarations during its recent year of operation will be calculated thus:
Ending retained earnings ($91000) = Beginning retained earnings ($75000) + Net income ($38000) - Dividend declared
$91000 = $113000 - Dividend declared
Dividend declared = $113000 - $91000
Dividend declared = $22000
Therefore, Superior's dividend declarations during its recent year of operation is $22000
Answer:
Explanation: hey, do your best i think you can do good
Answer:
The correct answer is: Baldridge Performance Excellence Program.
Explanation:
To begin with, the <em>"Baldridge Performance Excellence Program"</em> is the name given to the program that was established by the United States of America in order to encourage the companies of the country to improve their performance regarding the economy and the globalization that was happening at the time the program was created. It receives its name from the ex secretary of commerce Malcom Baldridge and the award gives to the company selected the recognition of having performance excellence in the its field
