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3 years ago

When the media decides to have a "breaking"

Business

2 answers:

Alona [7]3 years ago

3 0

I think it would be impact

SVEN [57.7K]3 years ago

3 0

B; impact this is the one I think it is

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The Allowance for Doubtful Accounts: Multiple Choice Is credited when bad debts expense is estimated and recorded. All of the op

antiseptic1488 [7]

Answer: All of the options are correct.

Explanation:

The Allowance for Doubtful Account is a contra account because it reduces the value of the Accounts Receivable Account and does so in order to account for the possibility that some customers will not pay the amounts they owe.

It is credited when Bad debts are estimated and recorded; that way this reduction in Accounts receivable does not have to go out of the Accounts Receivable account directly.This will ensure that the Accounts Receivable Account is not volatile as it attempts to keep up with all the bad debts incurred.

6 0

3 years ago

Assume that a firm reports net income of $45,000 prior to making adjusting entries for the following items: expired rent, $3,500

tigry1 [53]

Answer:

The errors have resulted in the overstatement of net income by $9,400. Actual net income is $35,600

Explanation:

Expired rent is usually accounted for by debiting rent expense and crediting prepaid rent account. As such this is an additional expenses that will be deducted from sale to get the net income.

Depreciation expense on asset is recorded by debiting depreciation expense and crediting accumulated depreciation. Again, it is an additional expenses that will be deducted from sale to get the net income.

Supplies used is a debit to supplies expense and a credit to the supplies account (B/s). Hence, it is an additional expenses that will be deducted from sale to get the net income.

Hence the total additional expense to be recorded

= $3,500 + $4,100 + $1,800

= $9,400

When recorded, net income

= $45,000 - $9,400

= $35,600

3 0

3 years ago

If you decide to hunt for your next job while you are still employed, you should be careful to a. Only search for jobs in other

shepuryov [24]

Answer:

D. Keep the information to yourself.

4 0

3 years ago

Read 2 more answers

Question 1:

olga_2 [115]

Answer:

D) Store all chemicals in a well-lit, warm area

5 0

3 years ago

Pronghorn Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures we

Leokris [45]

Answer:

The interest rate for capitalization purposes will be of 11%

Explanation:

The company will average all the debt oustanding during the year

1,050,550 x 13% = 136,571.5

2,080,800 x 10% = 208,080

6,962,550‬ 766,083.5

a debt of 6,962,550 dollars generates 766,083.5 dollars of interest:

principal x rate = interest

rate = interest / principal

766,083.5 / 6,962,550 = 0,110029 = 11%

4 0

3 years ago