1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Helen [10]
3 years ago
6

Superior Company has provided you with the following information before any year-end adjustments: Net credit sales are $131,750.

Historical percentage of credit losses is 3%. Allowance for doubtful accounts has a credit balance of $400. Accounts receivables ending balance is $43,500. What is the estimated bad debt expense using the percentage of credit sales method
Business
1 answer:
aleksklad [387]3 years ago
5 0

Answer:

$3,553

Explanation:

Credit losses = Net credit sales × Historical percentage of credit losses

= $131,750 × 3%

= $3,953

Allowance for doubtful account has a credit balance of $400

The estimated bad debt expense can therefore be calculated as:

Bad debt expense = Credit losses - Allowance for doubtful accounts credit balance

= $3,953 - $400

= $3,553

Hence, the estimated bad debt expense using the percentage of credit sales method is $3,553

You might be interested in
According to the PMQ Pizza Magazine, an estimate of pizza sales in the United States for the top 100 pizza companies was $44.3 b
shusha [124]

Answer:

PMQ Pizza Magazine

Estimate of Pizza Sales in the United States for top 100 pizza companies

a. Computation of the sales per franchise unit:

Name of company              Units          Sales      Sales per Franchise unit

Domino's                           14,490       12,252           $0.845

Pizza Hut                           16,336       12,034              0.737

Little Caesars Pizza            5365        4,000              0.746

Papa John's International   5071        3,695              0.729

California Pizza Kitchen       260           840              3.231

b. Frequency distribution based on total sales:

Frequency               Sales ($ millions)

O up to 1750                      840

1750 up to 3500                    0

3500 up to 5250           7,695

5250 up to 7000                  0

7000 up to 8750                  0

8750 up to 10500                0

10500 up to 12250     12,034

12250 up to 14000     12,252

Total sales                 32,821

c. Frequency distribution of companies based on per unit sales:

Frequency Per unit sales ($ millions)

0.0 up to 0.5               0

0.5 up to 1                    4

1 up to 1.5                     0

1.5 up to 2                     0

2 up to 2.5                   0

2.5 up to 3                    0

3 up to 3.5                    1

3.5 up to 4                   0

Total                          5

Explanation:

a) Data and Calculations:

Total estimated sales in 2018 = $44.3 billion

Top 5 Companies Total gross sales in $ millions.

Name of company              Units          Sales      Sales per Franchise unit

Domino's                           14,490       12,252           $0.845 (12,252/14,590)

Pizza Hut                           16,336       12,034              0.737 (12,034/16,336)

Little Caesars Pizza           5,365        4,000              0.746 (4,000/5,365)

Papa John's International  5,071        3,695              0.729 (3,695/5,071)

California Pizza Kitchen       260           840              3.231 (840/260)

b. Frequency distribution based on total sales:

Frequency               Sales ($ millions)

O up to 1750                      840

1750 up to 3500                    0

3500 up to 5250           7,695

5250 up to 7000                  0

7000 up to 8750                  0

8750 up to 10500                0

10500 up to 12250     12,034

12250 up to 14000     12,252

Total sales                 32,821

c. Frequency distribution of companies based on per unit sales:

Frequency Per unit sales ($ millions)

0.0 up to 0.5               0

0.5 up to 1                    4

1 up to 1.5                     0

1.5 up to 2                     0

2 up to 2.5                   0

2.5 up to 3                    0

3 up to 3.5                    1

3.5 up to 4                   0

Total                          5

7 0
3 years ago
Would the management of a firm in an oligopolistic or in a competitive industry be more likely to engage in what might be called
sp2606 [1]

Answer: Companies in perfect competition do not usually apply "socially conscious" practices because their cost-benefit relationship does not justify it.

Generally, the administration of an oligopolistic company will carry out "socially conscious" practices, because this differentiation between the other companies would lead to higher than normal profits.

6 0
3 years ago
A Moving to another question will save this response.
Yuri [45]

Based on the question above, the correct answer goes thus:

  • 2. a and b and cand d

<h3>Chart</h3>

  • A chart is a graphical representation for data visualization, in which the data is represented by symbols, such as bars in a bar chart, lines in a line chart, or slices in a pie chart.

  • It can show tabular numeric data, functions or some kinds of quality structure and provides different information.

In conclusion,we can conclude that a chart can show, Comparison, Distribution, Composition and Relationship.

Learn more about Chart here: brainly.com/question/14323743

5 0
3 years ago
Binayak began the business by placing Rs.6,00,000 into a business.<br>​
Mnenie [13.5K]

Answer:

THAT A SENTENCE NOT A QUESTION

Explanation:

8 0
3 years ago
Strum Services provides content management services to major educational publishers. Due to low morale, the level of employee ou
artcher [175]

Answer:

The correct answer is letter "A": The company is on a tight deadline to complete a major project for an important client.

Explanation:

Coercion is the act by which a party forces to act another against its will because of a threat or an adverse situation. In the case given, as employees are underperforming, executives might find and excuse in an upcoming deadline of a major project for an important client to urge employees to hurry up in their jobs, otherwise the goal will not be met.

8 0
3 years ago
Other questions:
  • Which statement best explains the law of demand?
    6·2 answers
  • The liaison role of a manager encompasses relationships with subordinates, including communication and influence, whereas the le
    9·1 answer
  • What was Rutherford's contribution to our knowledge of atoms
    5·1 answer
  • Emil Corp. produces and sells wind-energy-driven engines. To finance its operations, Emil Corp. issued $15,000,000 of 20-year, 9
    12·1 answer
  • The management of Ballard MicroBrew is considering the purchase of an automated bottling machine for $120,000. The machine would
    14·1 answer
  • The president and founder of a high-tech start-up firm contacted the vice president of HR at the company because she wanted to b
    12·2 answers
  • Select the desktop publishing programs.
    12·1 answer
  • Zoogle has the following selected data ($ in millions): (Round your answers to 2 decimal place. Enter your answers in millions (
    13·1 answer
  • In a world with no taxes, MM show that a firm's capital structure does not affect the firm's value. However, when taxes are cons
    10·1 answer
  • Expliquen la siguiente frase:
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!