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3 years ago

To record estimated uncollectible accounts using the allowance method, the adjusting entry would be a

Business

1 answer:

GenaCL600 [577]3 years ago

7 0

Answer:

Bad debt expense

To Allowance for doubtful accounts

(Being the bad debt expense is recorded)

Explanation:

The adjusting entry using the allowance method for recording the predicted uncollectible account is as follows:

Bad debt expense

To Allowance for doubtful accounts

(Being the bad debt expense is recorded)

Here the bad debt expense is debited as it increased the expenses and credited the allowance for doubtful account as it decreased the assets

Therefore the above represent the bad debt expense

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Both Mia and Mario produce only the item in which they have a comparative advantage. Then they trade one pasta for one pizza. Be

Molodets [167]

The total gains from trade are 66 dishes of pasta and 66 pizzas an hour.

Explanation:

A calculation of the net income from trade is the amount of the surplus of the customer and the earnings of the manufacturer or, more generally, the enhanced efficiency of the specialization of production with the subsequent export.

Trade gains can also apply to the net benefits of reducing barriers to trade, such as import tariffs, for a region.

To measure the income, take the price at which you sell the investment and deduct from it the price you originally charged for it. Now that you've got the income, split the income by the original value of the investment. Finally, subtract the response by 100 to adjust the percentage of your investment.

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3 years ago

Landis Company is preparing its financial statements. Gross margin is normally 40% of sales. Information taken from the company'

tatiyna

Answer:

$5,000= ending inventory

Explanation:

Giving the following information:

Gross margin is normally 40% of sales.

Sales= $25,000

beginning inventory= $2,500

purchases= $17,500

First, we need to determine the cost of goods sold:

COGS= 25,000*0.6= 15,000

Now, using the following formula, we can calculate the ending inventory:

COGS= beginning inventory + cost of goods purchased - ending inventory

15,000= 2,500 + 17,500 - ending inventory

5,000= ending inventory

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3 years ago

One of the first steps that you can take is to place a fraud alert on your credit reports from Equifax, Experian, and TransUnion

astra-53 [7]

This is a true statement

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3 years ago

Read 2 more answers

Worldwide quarterly sales of a brand of cell phones were approximately q = −p + 136 million phones when the wholesale price was

Gre4nikov [31]

Answer:

$51

Explanation:

Data provided:

Sales function as: ( q = −p + 136 ) million phones

here, p is price in dollars

a) supply function as: ( q = 9p - 374 ) million phones

now,

for equilibrium price, the supply should be equal to the sales

i.e

−p + 136 = 9p - 374

136 + 374 = 9p + p

10p = 510

p = $51

Hence, the equilibrium price should be $51

8 0

3 years ago

Tyler Co. predicts the following unit sales for the next four months: April, 3,100 units; May, 4,900 units; June, 7,000 units; a

Naddika [18.5K]

Answer:

Production Budget April 3970 May 5530 June 5740 units

Explanation:

Tyler Co.

Production Budget

For the months of April, May, and June.

Particulars April, May, June July

Sales 3100 4900 7000 2800(given)

+ Desired Ending Inv. 1470 2100 840

Less Beginning Inv. 600 1470 2100

Production Budget 3970 5530 5740 

The Production budget is calculated by adding sales to the desired ending inventory and subtracting the beginning inventory from it. Each month's ending inventory is next month's beginning inventory.

The Ending Inventory is calculated by taking 30% of the next months' sales.

Ending Inventory for April = 4900*30%=1470

Ending Inventory for May = 7000*30%=2100

Ending Inventory for April = 2800*30%=840

7 0

3 years ago