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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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________ refers to the superior features of a country that provide unique benefits in global competition, typically derived from
vichka [17]

Answer:

Comparative advantage

Explanation:

Comparative advantage -

It refers to the method used by a company to produce certain goods or services at a much cheaper and better manner than other company , is referred to as comparative advantage .

As the company can sell the similar product produced at much lower price , and thereby earns more profit for the product .

Thereby , the company has the upperhand over the other companies .

Hence , from the given information of the question ,

The correct answer is Comparative advantage .

7 0
4 years ago
The money stock in the economy is:​ a. ​the amount of wealth accumulating in the economy, such as currency and demand deposits.
Rus_ich [418]

Answer: The quantity of money circulating in the economy, such as money market mutual funds and stocks.

Explanation: Money stock also known as the money supply of an economy is the amount of money in circulation in an economy at a specific time, mainly influenced by the central bank of a country. It consists of the value of total money available in an economy in its different forms such as: stocks, mutual funds, and physical cash.

3 0
3 years ago
Burger King developed a new french fry to compete with McDonald's fry-considered the world's best. Burger King's specifications
RSB [31]

Answer:

screen

Explanation:

Based on the scenario it can be said that  It is most likely that Burger King did not screen the idea for both technical and commercial value. Screening refers to when a company reanalyzes something (which in this case would be the idea) in order to make sure that it is good and meets all the requirements and standards that have been placed by the company.

8 0
3 years ago
Payne Company reported the following information for the current year: Sales $ 840,000 Average operating assets $ 340,000 Desire
const2013 [10]

Answer:

Residual income will be $13200

So option (c) will be correct answer

Explanation:

We have given Sales = $840000

Average operating assets = $340000

Desired ROI = 12%

Net income = $54000

We have to find the residual income

Residual income is given by

Residual income = Net income - ( Average operating assets× desired ROI )

= $54000 - ( $340000 ×0.12 ) = $13200

So option (c) will be correct answer

4 0
3 years ago
When the Federal Reserve seeks to contract the money supply, it may Group of answer choices sell securities and raise the target
shutvik [7]

Answer:

Option "Sell securities but instead start raising the federal objective  Rate of funds" is the right response.

Explanation:

  • Across the whole of collective memory, the free-market community had already progressed thru all the boom-and-bust phases.
  • The Federal Reserve must have been designed to assist start reducing this year's injuries caused mostly during depressions but instead provided several other effective features to impact the money supply. Continue reading to learn how well the Fed is managing this same money supply.

Some other decisions are not comparable to the type of situation in question. So that is the correct choice.

8 0
3 years ago
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