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
mojhsa [17]
3 years ago
9

Morrow Inc. uses the percentage of credit sales method of estimating doubtful accounts. The Allowance for Doubtful Accounts has

an unadjusted credit balance of $3,700 and the company had $190,000 of net credit sales during the period. Morrow has experienced bad debt losses of 3% of credit sales in prior periods. After making the adjusting entry for estimated bad debts, what is the ending balance in the Allowance for Doubtful Accounts account
Business
1 answer:
Black_prince [1.1K]3 years ago
7 0

Answer:

$9,400

Explanation:

The computation of ending balance in the Allowance for Doubtful Accounts account is shown below:-

The ending balance in the Allowance for Doubtful Accounts account = Net credit sales × Bad debt losses + Unadjusted credit balance

= $190,000 × 3% + $3,700

= $5,700 +$3,700

= $9,400

Therefore for computing the ending balance in the Allowance for Doubtful Accounts account we simply applied the above formula.

You might be interested in
In his​ report, Wade described the strengths and weaknesses of each of his subordinates. He made a note of their past performanc
elixir [45]

Answer:

Written essay

Explanation:

Written essay method is an approach of performance appraisal, where appraiser prepare a written statement about the strength and weekness of employee to appraise their performance, these strength and weekness are evaluated on the basis of past performance at the employment. It also suggest solution for performance improvement. It is one of the effective method of performance appraisal, however, it is time consuming.

In the given case, Wade have described strength and weekness of  each subordinates and also suggested technique to improve performance, therefore, wade is using Written essay method of performance appraisal.

6 0
3 years ago
Enok, a prospective franchise owner, is looking to keep his monthly costs as low as possible. The franchisor he is checking out
slamgirl [31]

Answer:

Option (3) is correct.

Explanation:

Given that,

Enok, a prospective franchise owner,

Royalty payments = 8 percent of sales could be as high as $300,000 per month

Therefore, the franchiser is claiming that a franchisee can expect monthly sales to be as high as:

= $300,000 × (100 ÷ 8)

= $300,000 × 12.5

= $3,750,000

Option (3) is correct.

4 0
3 years ago
Ramon did not have health insurance in 2019, how does that affect his return? A. He must pay a $695 shared responsibility paymen
Sever21 [200]

Answer:

<em><u>The answer is</u></em>: <u>B. It has no effect on his Form 1040. The "Full-year health care coverage or exempt" box is eliminated from Form 1040 because the shared responsibility payment is reduced to zero for tax year 2019.</u>

Explanation:

<u>Health insurance coverage is no longer mandatory at the federal level, as of January 1, 2019,</u> so the shared responsibility payment is reduced to zero for the 2019 fiscal year.

So it has no effect on your 1040 form, because the entire year of health care coverage or the exempt box is removed from the 1040 form.

<em><u>The answer is</u></em>: <u>B. It has no effect on his Form 1040. The "Full-year health care coverage or exempt" box is eliminated from Form 1040 because the shared responsibility payment is reduced to zero for tax year 2019.</u>

4 0
3 years ago
BRAINLIEST The process you use to make your business more successful is known as
lina2011 [118]

Answer:

Marketing assessment

Explanation:

Marketing assessment is the best process you can use to make a business successful in the long run because marketing assessment is the comprehensive assessment of all the potential and risks involved in a new or existing business idea or project that is to be undertaken by a business entity.

In marketing assessment the effects of external barriers like environmental forces, market trends, competition in the market, taxes involved in the running of the business and even the resources to make the business flourish is comprehensively covered in details.

Financial Management is part of the whole process and not the process of making a business successful on its own.

8 0
3 years ago
Mogul ships inventory with a cost of $80,000 to Ski Outfit and pays shipping costs of $8,000. By the end of the year, $60,000 of
Bezzdna [24]

Answer:

D $22,000.

Explanation:

Mogul ships inventory

Cost of goods = $80,000+$8,000=$88,000

Cost of goods old = $60,000+$6,000=$66,000

Inventory =$88,000-$66,000

=$22,000

Therefore the amount of inventory will Mogul report at year end will be $22,000

4 0
3 years ago
Other questions:
  • Diane heads an event management company called Venus Inc. The company encourages an innovative and creative approach to work. Di
    6·1 answer
  • Producer surplus is the difference between the _____ price and the minimum price at which a producer would be willing to sell a
    6·1 answer
  • On december 1, milton company borrowed $480,000, at 8% annual interest, from the tennessee national bank. interest is paid when
    10·2 answers
  • Meredith is a passive 30% member of the MNO LLC. She is not a managing member and she does not participate in any activities of
    10·1 answer
  • A microeconomist might study which of the following? how inflation changes over time for several countries how money supply aggr
    13·1 answer
  • name some differences between the requirements and responsibilities between volunteer,intern, and paid jobs
    10·1 answer
  • In a research experiment, Priya hears the following list of words:
    7·2 answers
  • The best life insurance policy for the payment of federal estate taxes for a 55-year-old couple with illiquid assets is:________
    12·2 answers
  • Sherry owns a car business. She just received a shipment of Volkswagen SUVs. She paid $60,000 for each vehicle and wants to make
    15·1 answer
  • Explain how the adjust row amounts feature helps in creating qb accountant budgets
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!