Answer:
$3,355
Explanation:
Accounts receivables = $ 352,000
Debit Allowance for uncollectible accounts = 630
Net Sales = $797,000
The company estimates that 0.5% of net credit sales are uncollectible
Estimates of uncollectible receivables
= 0.5% × $797,000
=$3985
This is the total amount to be recognized at the end of the year as Bad Debts Expense. Since a debit of $630 has been recognized already, additional debit required
= 3985 - 630
= $3,355
The amount to be debited to Bad Debts Expense when the year-end adjusting entry is prepared is $3,355.
Answer:
The answer is: There are different versions of the retail inventory method.
Explanation:
There are several types of retail inventory method:
- the conventional (lower of average cost or market) method,
- the cost method
- the LIFO retail method
- the dollar value LIFO retail method
The retail inventory method is very useful for large retailers (e.g. grocery stores, hypermarkets, etc.). Its greatest advantage is that the inventory balance can be calculated without a physical count.
Part of question attached
Answer and Explanation:
Please find answer and explanation attached
coordination costs which are incurred when pursuing a related-diversification strategy, are a function of the number, size, and types of businesses that are linked to one another.
<h3>What are coordination costs?</h3>
This is the term that has to do with the type of costs that people come about through the fact that they collaborate.
Firms are made to work together so that they would be able to carry out an activity.
Read more on coordination costs here:
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Answer: C.Any percentage less than 50 percent
Explanation:
In relation to the law on meeting the criteria to be treated as an exchange under the "substantially disproportionate" test as stipulated by U.S. Code § 302.Distributions in redemption of stock, Sam must own the lesser of 2 options of Club Corporation stock;
1. Less than 50% of the stock after the redemption
2. Less than 80% of Sam's previous ownership percentage
= 80% * 70%
= 56%
The lesser option is that of owning less than 50% so Sam must own less than 50% of stock after the redemption to meet the requirement to be treated as an exchange under the "substantially disproportionate" test.
