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
Crazy boy [7]
4 years ago
8

Kingston Co. uses the percentage-of-receivables basis to record bad debt expense.

Business
1 answer:
Troyanec [42]4 years ago
4 0

Answer:

Explanation:

The journal entry to record the bad debt expense is shown below:

Bad debt expense A/c Dr  $2,700

      To Allowance for doubtful debts $2,700

(Being bad debt expense is recorded)

The computation of the bad debt expense is shown below:

= (Accounts receivable × estimated percentage given ) - (credit balance of Allowance for Doubtful Accounts)

= ($420,000 × 1%) -  ($1,500)

= $4,200- $1,500

= $2,700

You might be interested in
There are hundreds of highly targeted, upstart sites on the Internet along with magazines created by users. Initially, the main
Artyom0805 [142]

A news reading app is a type of advertising in an online publications that consisted of hundreds of highly targeted on Internet along with magazines created by users.

<h3>What is the Flipboard?</h3>

A news-reading app gathers articles from around the web and delivers them to one's device in attractive Smart Magazines that you can tailor to your own interests.

In conclusion, it is a true statement that the news reading app is a type of advertising in an online publications that consisted of hundreds of highly targeted on Internet along with magazines created by users.

Read more about Flipboard

<em>brainly.com/question/26293415</em>

3 0
2 years ago
Choose the correct alternative regarding tax revenue:
insens350 [35]

The correct alternative regarding tax revenue:

<u>B-Personal income tax is currently the largest source of government revenue in South Africa.</u>

<u>Direct </u><u>Taxes</u>

  • it is levied on earnings and activities conducted.
  • the burden of tax cannot be shifted in case of direct tax.
  • it is paid directly by individual concerned.
  • it is paid after the income reaches in the hands of the taxpayer
  • Tax collection is difficult.
  • instance income tax, wealth tax etc.

<u>Indirect </u><u>Taxes</u>

  • it is levied on product or services.
  • the burden of tax shifted for indirect taxes
  • It is paid by way of one man or woman however he recovers the same from another person i.e. person who actually bear the tax ultimate consumer.
  • it is paid before goods/service reaches the taxpayer.
  • Tax collection is exceptionally easier
  • Example GST, excise duty custom duty sale tax carrier tax

Learn more about Tax brainly.com/question/16423331

#SPJ9

5 0
2 years ago
Stock A has an expected return of 8%, stock B has an expected return of 2%, and the return on Treasury-Bills is 4%. You buy $200
Tomtit [17]

Answer:

The expected return of your portfolio is 6.02%

Explanation:

Stock     Value     Expected Rate of return   Weightage

  A          $200                   8%                      $200/$300 = 0.67

  B          $100                    2%                      $100/$300 = 0.33

Expected Rate of return = ( Expected rate of return Stock A x Weightage of Stock A ) + ( Expected rate of return Stock B x Weightage of Stock B )

Expected Rate of return = ( 8% x 0.667 ) + ( 2% x 0.33 )

Expected Rate of return = 0.0536 + 0.0066 = 0.0602 = 6.02%

3 0
3 years ago
It is estimated the national cost of overweight and obesity combined each year is:________
Evgen [1.6K]

It is estimated the national cost of overweight and obesity combined each year is <u>113 billion dollars</u>

<u></u>

<h3>What are Obesity and overweight?</h3>

According to the definition of obesity and overweight in the United States, these conditions are characterized by an increase in the size and number of fat cells in the body. Many things contribute to becoming overweight or obese, including habits including eating habits, lack of sleep or exercise, some medications, genetics, and family history.

Obesity is a long-term medical condition that increases the risk of heart disease, the number one killer in the US, and is associated with a wide range of other health issues, for example type 2 diabetes and cancer.

In the US, about a third of adults (20 and older) are either overweight or obese. Between the ages of 2 and 19, over 1 in 5 kids and teens are obese.

Learn more about obesity

brainly.com/question/1646944

#SPJ4

5 0
2 years ago
Lindsey’s college will cost her a total of $6,000 a year for the next 3 years. She is also foregoing making $26,000 a year at th
Alex_Xolod [135]

Answer: Lindsey's total investment in education is $18,000.

Since Lindsey's college will cost a total of $6000 per year for the next three years, her total investment in education will be  6000*3 = 18,000.

The $26000 per year that's given in the question is the value of Lindsey's earnings if she chose to work at the local mall. This is the gain Lindsey foregoes in each of the three years in order to learn, and represents her opportunity cost or alternate costs.


5 0
3 years ago
Read 2 more answers
Other questions:
  • With recent reports of identity theft, mr. Jones, the ceo of a construction company, is concerned about his employees' privacy,
    5·1 answer
  • Blank is a tool of monetary policy in which the Federal Reserve buys and sells blank
    10·1 answer
  • A company pays its employees $4,000 each Friday, which amounts to $800 per day for the five-day workweek that begins on Monday.
    9·1 answer
  • The system that sorts packages in the FedEx Super Hub is called _________________________.
    6·2 answers
  • Which one of these statements is fasle? A. Ownership of common stock gives the owner a voting right. B. The stockholders' equity
    13·1 answer
  • Apply Six-Sigma quality standards and devise a plan for the hotel to monitor and control future process performance.
    14·1 answer
  • Consumed to fuel day to day expenditure
    14·1 answer
  • How would an increase in demand affect the equilibrium price in a​ market? A. The equilibrium price decreases. B. The equilibriu
    6·1 answer
  • Brenda likes to download her music from a(n ____ site and then transfer it to her portable digital media player so that she can
    5·1 answer
  • What is the economic order quantity if annual demand is 100 units, the order placement cost is $25, and the holding cost per uni
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!