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Vlada [557]
3 years ago
7

Upon completing an aging analysis of accounts receivable, the accountant for Rosco Works prepared an aging of accounts receivabl

e and estimated that $6,300 of the $99,300 accounts receivable balance would be uncollectible. The allowance for doubtful accounts had a $530 debit balance at year-end prior to adjustment. What is the amount of bad debt expense
Business
1 answer:
alisha [4.7K]3 years ago
6 0

Answer:

the bad debt expense is $6,830

Explanation:

The computation of the bad debt expense is shown below:

= Estimated uncollectible amount + debit balance of allowance for doubtful accounts

= $6,300 + $530

= $6,830

Hence, the bad debt expense is $6,830

We simply added the above amount as it represent the bad debt amount

The same is to be considered  

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In a supermarket, a vendor's restocking the shelves every Monday morning is an example of:________
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Answer:

it may be fixed order interval because the vendor is restocking every monday only.

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3 years ago
2 ways that you can simplify 112 over 220
Sidana [21]

Source: Net

Find the GCD (or HCF) of numerator and denominator

GCD of 112 and 220 is 4

Divide both the numerator and denominator by the GCD

112 ÷ 4

220 ÷ 4

Reduced fraction:  

28

55

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3 years ago
According to the video, what do Financial Analysts analyze? Check all that apply.
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The following totals for the month of April were taken from the payroll register of Magnum Company. Use this information to answ
tankabanditka [31]

Answer:

(C) debit to Payroll Tax Expense for $1,148

Explanation:

"employer's payroll taxes" This means we are asked for the entry of the employer, not the employee.

The employer will contribute the same amount for FICA(medicare and social security)  FUTA and SUTA

so the entry will be :

<u>payroll tax expense debit 1148</u>

FICA taxes payable credit 900

FUTA payable credit 32

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7 0
3 years ago
Adam and Alyssa are equal partners in the PartiPilo Partnership. The partners formed the partnership three years ago by contribu
Rina8888 [55]

Answer and Explanation:

Partnership can be defined as a form of business which is often carried out by two or more people with the sole aim of making profit.

a) Adam receives only money in the distribution and the distribution exceeds his basis.

Particular Amount

Distribution $16,000

Less: Basis $12,000

Recognized Gain $4,000

b) Adam has $0 remaining basis in his partnership interest due to the fact that all the money or cash he received in the partnership distribution is allocated in outside basis and not within basis.

c) Alyssa has not recognized any gain or loss from the current distribution due to the fact that the cash Alyssa received in distribution is fully adjusted in the outside basis.

d) After adjusting the money received against the outside basis the remaining outside basis of $4,000 will be adjusted by property, which is why Alyssa will assign $4,000 basis to the property.

e)

Particular Amount

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Less: cash distribution $8,000

Less: Property $4,000

Remaining basis $0

Therefore Alyssa remaining basis in her partnership interest will be $0

4 0
3 years ago
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