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ozzi
3 years ago
12

The unadjusted trial balance at year-end for a company that uses the percent of receivables method to determine its bad debts ex

pense, reports the following selected amounts: Accounts receivable $ 431,000 Debit Allowance for Doubtful Accounts 1,390 Debit Net Sales 2,240,000 Credit All sales are made on credit. Based on past experience, the company estimates 2.5% of ending account receivable to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense
Business
1 answer:
TEA [102]3 years ago
6 0

Answer:

Bad Debts Expense $9,385 & Allowance for Doubtful Accounts $9,385

Explanation:

Bad debt expense = ($431,000 *2.5%) - $1,390

Bad debt expense = $10,775 - $1,390

Bad debt expense = $9,385

Adjusted Entry

Debit - Bad Debts Expense $9,385

Credit - Allowance for Doubtful Accounts $9,385

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If 3,000 is invested at 7% for 6 months,how much simple interest is earned
Shtirlitz [24]
I believe the answer would be $126,000 because 3,000*7*6 equals 126,000. I may have done it wrong since I haven't done this in a while.
4 0
2 years ago
Intangible assets derived mostly from human capital are on the rise, according to the advisory firm Ocean Tomo. A study of the S
Neko [114]

Complete/Correct Question:

Intangible assets derived mostly from human capital are on the rise, according to the advisory firm Ocean Tomo. A study of the Standard and Poors' 500 index from 1975 to 2015 demonstrated a 17 percent increase in market value of intangible assets over this time period. Companies such as Stryker get 70 percent of its value from intangibles. Intangible assets are

A. equipment.

B. land.

C. money.

D. Non-physical.

Answer:

D, Non physical

Explanation:

Intangible assets are assets that that cannot be seen with the eyes. That is, intangible assets are assets that are not physical in nature. This means that it can't be seen or touched, etc.

Intangible assets usually comprise of goodwill, brands, patents, etc.

In the case of the question, back in time, say the 20th century, managers or officers usually placed their concentration on tangible assets such as land, equipment, etc. But as time went on, intangible assets like they are mentioned above, intangible assets began to be considered.

Cheers.

7 0
3 years ago
The union and management agreement that allows non-union people to be hired but requires that they join the union after a probat
lisov135 [29]

Hello !

Answer:

The union and management agreement that allows non-union people to be hired but requires that they join the union after a probationary period creates the <u>union</u> shop.

6 0
2 years ago
Read 2 more answers
If you work for a Market-oriented firm, the primarily focus of your efforts would be:
Eddi Din [679]

Answer:

e.

Explanation:

If you work for a Market-oriented firm, the primarily focus of your efforts would be satisfying the wants and needs of their customers. This is because the main goal of a Market-Oriented firm, is exactly that, to increase profitability as much as possible by satisfying the wants and needs of the customers that purchase the products or services that your firm is offering.

7 0
3 years ago
A parcel delivery company delivered 103,600 packages last year, when its average employment was 83 drivers. This year, the firm
Luden [163]

Answer: -3.38%

Explanation:

The percentage change in productivity over the past years will be calculated thus:

The Productivity will be the total packages handled divided by the number of drivers employed.

Last year Productivity will be:

= 103600/83

= 1248.19 packages per driver

This year Productivity will be:

= 112160/93

= 1206.02 packages per driver

Therefore, the percentage change in productivity = (This year Productivity - Last year Productivity) / (Last year Productivity) ×100

= [(1206.02-1248.19) / (1248.19)] × 100

= -42.17/1248.19 × 100

= -3.38%

4 0
2 years ago
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