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AlexFokin [52]
3 years ago
5

Tanning Company analyzes its receivables to estimate bad debt expense. The accounts receivable balance is $354,000 and credit sa

les are $1,000,000. An aging of accounts receivable shows that approximately 4% of the outstanding receivables will be uncollectible. What adjusting entry will Tanning Company make if the Allowance for Doubtful Accounts has a credit balance of $1,400 before adjustment
Business
1 answer:
Dmitry_Shevchenko [17]3 years ago
4 0

Answer:

Dr Bad Debt Expense $12,760

Cr Allowance for Doubtful Accounts $12,760

Explanation:

Based on the information given the adjusting journal entry that Tanning Company will make if the Allowance for Doubtful Accounts has a credit balance of the amount of $1,400 before adjustment will be :

Dr Bad Debt Expense $12,760

Cr Allowance for Doubtful Accounts $12,760

[(4%*$354,000)-$1,400]

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Which of the following statements is true of control? Control through rules, procedures, and budgets is generally not very costl
Roman55 [17]

Answer:

The second one

Explanation:

Control through rules and budgets can lead to rigidity and loss of creativity in an organization in a way that it limits change. When all available funds are allocated to specific operational budgets, it may be impossible to procure additional funds, when an opportunity arises elsewhere. Some organizations are therefore working in a way to back their budgeting systems.

3 0
3 years ago
Your sister just deposited $14,000 into an investment account. She believes that she will earn an annual return of 10.5 percent
Ilia_Sergeevich [38]

Answer:

You must deposit $14,824.07

Explanation:

Giving the following information:

Sister:

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You:

Investment=?

Interest rate= 9.8%

Number of years= 9

First, we need to calculate the future value of your sister:

FV= PV*(1+i)^n

FV= 14,000*(1.105^9)= $34,386.55

Now, we can determine your deposit:

PV= FV/(1+i)^n

PV= 34,386.55/ (1.098^9)= $14,824.07

3 0
3 years ago
Choose the answer.
Brrunno [24]

Answer:

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What should the accumulated depreciation equal at the end of the asset's useful life?
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What should the accumulated depreciation equal at the end of the asset's useful life The Balance In Accumulated Depreciation Will Be The Same Amount Under all the depreciation methods.

The depreciation of an asset up to one point in its life is referred to as accumulated depreciation. Since accumulated depreciation is a counter asset account, its natural equilibrium is a credit that lowers the asset's total value. General accepted accounting principles (GAAP) require that expenses be matched to the same accounting period in which the relevant revenue is generated. This is known as the matching principle. A business will depreciate a portion of a capital asset's value over the course of each year of its useful life. This implies that the expense related to using up an asset that has been capitalised is reported every year the asset is put to use and generates income.

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brainly.com/question/15085226

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