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Sever21 [200]
3 years ago
8

Ryan's Express has total credit sales for the year of $189,000 and estimates that 3% of its credit sales will be uncollectible.

Record the end-of-period adjusting entry on December 31, in general journal form, for the estimated bad debt expense. Assume the following independent conditions existed prior to the adjustment:
a. Allowance for Doubtful Accounts has a credit balance of $925.
b. Allowance for Doubtful Accounts has a debit balance of $385.
Business
1 answer:
VikaD [51]3 years ago
8 0

Answer:

a. Date  Account title                             Debit    Credit

              Bad debt expenses                 $4,745

              (3%*189,000 - $925)

                     Allowance for doubtful account    $4,745                

              (To record the adjusting entry)

a. Date  Account title                             Debit    Credit

              Bad debt expenses                 $1,505

              (3%*189,000 - $385)

                     Allowance for doubtful account    $1,505                

              (To record the adjusting entry)

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Zielflug [23.3K]

Answer: $66.25

Explanation:

What should the per unit selling price be to make a 25% profit this year?

First, we'll calculate the total cost which will be:

= $100,000 + $5000(33)

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= $265000

%profit = 100(revenue - cost)/ cost

25% = 100(revenue - 265000)/265000

Therefore, revenue will be:

265000(1 + 25%) = 331250

265000(1.25) = 331250

Revenue = $331250

Selling price per unit will be:

= $331250/5000

= $66.25/unit

7 0
3 years ago
Runner's warehouse purchased digital watches for $92.99. its markup rate is 25% based on the selling price. what is the selling
Mkey [24]
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4 0
3 years ago
Darrin’s employees are highly skilled, so he allows them free rein to do their jobs.
Oxana [17]

Answer::Leader-Member exchange , Out group members

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The  created relationship can either succeed   when there is trust and mutual respect leading to effective employees  or  fail by producing  undesired result in terms of a hostile relationship leading to low efficiency and productivity from employees

According to the leader member exchange theory, leaders tend to  create  different relationships with followers by forming two groups----- in group members  and out group members

of which the outgroup members are  given less responsibilities with less attention and work outside  the leaders inner circle of communication and therefore are less likely to engage in organizational citizenship than other employees.

4 0
3 years ago
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Ratling [72]

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<h3>
What is the real estate license fee?</h3>

The real estate license fee in Florida costs $83.75.  This amount is paid to the Florida Real Estate Commission (FREC).

FREC is the government office regulating real estate education and licensure in Florida.  FREC is under the supervision of the Florida Department of Business and Professional Regulation (DBPR).

License fees of $3.50 are imposed as soon as the Real Estate Recovery Fund drops below $500,000.

Thus, the amount of Alec's license fee that went into the Real Estate Recovery Fund, which just received his Florida broker license, is <u>$3.50.</u>

Learn more about real estate license fees at brainly.com/question/26067240

8 0
2 years ago
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777dan777 [17]

Answer:

The answer is "Option C".

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In the given question, the numbering of the choices is missing, which is defined in the attached file please find it.

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6 0
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