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Galina-37 [17]
3 years ago
7

Accounts Randall Company estimates its bad debts expense by aging its accounts receivable and applying percentages to various ag

e groups of the accounts. Randall calculated a total of $3,000 in possible credit losses as of December 31. Accounts Receivable has a balance of $128,000, and the Allowance for Doubtful Accounts has a credit balance of $500 before adjustment at December 31. What is the December 31 adjusting entry to provide for credit losses
Business
1 answer:
Crazy boy [7]3 years ago
8 0

Answer:

Explanation:

The journal entry will be:

Debit: Bad debt expense $2500

Credit: Allowance for doubtful $2500

Then, we will calculate the net amount of account receivable that should be included in current assets which will be:

Account receivable = $128000

Less: Allowance for doubtful = $500 + $2500 = $3000

Net amount of account receivable = $125000

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The short-run aggregate supply curve shows: O Changes in output in an economy as the price level changes, holding all other dete
tankabanditka [31]

Answer:

It show the <em>Changes in output in an economy as the price level changes, holding all other determinants of real GDP constant </em>

Explanation:

<em>The short run aggregate supply curve displays the adjustments in an economy's production as the price level increases, keeping all the other actual GDP determinants constant. </em>

This demonstrates the connection of the price level to the output

Holding all GDP determinants stable as demand shifts with short run prices indicates a strong correlation among price level and output

5 0
4 years ago
Management accountants are MOST likely to feel outside pressure to influence the numbers favorably when the information is used
sesenic [268]

Answer:

The correct answer is letter "B": compensation and promotions.

Explanation:

It is unethical to influence or distort accounting information to benefit an employee over another in front of promotions or at the moment of providing benefits to workers. Sometimes and against the law, manager accountants are pushed to do so for the company to obtain extra income or when the decision of providing a better job position to an employee over another is biased.

8 0
3 years ago
Under the Uniform Securities Act, an investment adviser may share in the profits of a client's account:
omeli [17]

Answer:

D. under no circumstances

Explanation:

An investment adviser uses his investment knowledge to guide his client with respect to investing in stocks and other securities so as to maximize client's gain.

In return for his services, an investment adviser charges a certain fee from the clients.

As per the Uniform Securities Act, an investment adviser is prohibited from sharing the profits of the client which could be in the form of any dividend/interest receipts or capital appreciation.

Thus, under no circumstances, an investment adviser is permitted to share profits of the client.

6 0
3 years ago
Read 2 more answers
What is it called when an identity thief calls or emails you pretending to be someone else in order to get your personal informa
NikAS [45]

the correct answer would be phishing for information

6 0
4 years ago
Read 2 more answers
Taggart Transcontinental pays no dividends, but spent $4 billion on share repurchases last year. Taggart's equity cost of capita
Andrej [43]

This question is incomplete, the complete one was gotten from google.

Taggart Transcontinental pays no dividends, but spent $4 billion on share repurchases last year. Taggart's equity cost of capital is 13% and the amount spent on repurchases is expected to grow by 5% per year. Taggart currently has 2 billion shares outstanding.

Taggart's stock price is closest to:

A. $25.00

B. $12.50  

C. $15.40

D. $20.00

Answer:

Taggart Transcontinental pays no dividends, but spent $4 billion on share repurchases last year. Taggart's equity cost of capital is 13% and the amount spent on repurchases is expected to grow by 5% per year. Taggart currently has 2 billion shares outstanding.

Taggart's stock price is closest to $25 - option A.

Explanation:

Market capitalization = 4/ (0.13 -0.05)

                                   = 4/0.08

Market capitalization = 50

Price per share = 50/2 = $25

Therefore, Taggart's stock price is closest to $25 - option A.

4 0
3 years ago
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