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
Harrizon [31]
2 years ago
6

Historical Art is a new business. During its first year of operations, credit sales were $50,000 and collections from credit sal

es were $34,000. One account for $500 was written off. Management uses the percent-of-sales method to account for bad debts expense and estimates 3% of credit sales to be uncollectible. the ending balance of allowance for bad debts account is?
A. 1,000
B. 2,505
C. 1,500
D. 465
Business
1 answer:
Harrizon [31]2 years ago
8 0

Answer:

C. 1,500

Explanation:

Credit Sales x 3%

$50,000 x 0.03 = $1,500

You might be interested in
The purpose of a W–4 form is to _____. inform your employer how much you paid in taxes at your previous job tell the IRS how muc
BartSMP [9]

Answer:

let your employer know how much to take out of your paycheck for taxes file a tax return

Explanation:

The W-4 Form or the Employee's Withholding Allowance Certificate, must be completed by new employees and its main purpose is to let their employer know how much federal taxes must be withheld form the employee's paycheck. Employers no longer have to routinely submit W-4 Forms to the IRS.

8 0
3 years ago
Matt's retail store offers all products at $2 less than its competitors. The store never runs promotional campaigns or offers sp
olya-2409 [2.1K]

Answer:

5) everyday low

Explanation:

An everyday low pricing policy (or strategy) refers to simply selling your products at a cheaper price than your competitors.

For example, bargain stores usually sell their products at a lower cost than the competition, Walmart, Target and Kmart are supposed to be bargain or discount stores. Another common type of retail store that uses this pricing strategy are outlet stores, specially clothing outlet stores.

8 0
3 years ago
In 2019, Muhammad purchased a new computer for $16,000. The computer is used 100% for business. Muhammad did not make a $179 ele
Len [333]

Answer: His cost deduction would be $3,200

Explanation:

Without the mid-quarter convention Muhammad’s 2019 MACRS deduction would be $3,200 ($16,000 x .20). The mid-quarter convention slows down the taxpayers available cost recovery deduction.

8 0
3 years ago
Which are major situational considerations or variables in determining whether or not to involve a group in the decision-making
Oksana_A [137]

Answer:

The correct answer will be Option B "Organizational complexity ".

Explanation:

  • A Complex organization does indeed have a broader organizational structure or even more personnel in each group, mission, or team.
  • Complexity can sometimes be susceptible to multiple actors, various organizational structures, as well as different service will be produced that would need to be implemented.

The other given choices are not related to the given scenario. So that the above would be the appropriate choice.

5 0
2 years ago
One of Simplex Company’s products has a contribution margin of $44,000 and fixed costs totaling $54,000. If the product is dropp
levacccp [35]

Answer:

Decrease by $27000

Explanation:

Given that

Contribution margin = 44000

Initial fixed cost = 54000

Final fixed cost = 37000

Recall that

Net operating income = Contrubution Margin - Net fixed cost.

NOI = 44000 - (54000 - 37000)

NOI = 44000 - 17000

NOI = $27000

Thus, Net operating income decreased by 27000.

5 0
3 years ago
Other questions:
  • What does credit opening balance mean​
    6·2 answers
  • After three years Remington or $390 and simple interest from a CD into which she initially deposited $4000 what was the annual i
    8·1 answer
  • The first step in process flow analysis is:
    13·1 answer
  • Imagine the following scenario: You have asked respondents to rate a certain product on the scale of 1 to 5. In the survey data
    13·1 answer
  • A portfolio comprises Coke​ (beta of 1.1​) and​ Wal-Mart (beta of 1​). The amount invested in Coke is​ $10,000 and in​ Wal-Mart
    9·1 answer
  • The Boston Consulting Group (BCG) has given specific names and descriptions to the four resulting quadrants in its growth-share
    13·1 answer
  • Explain why it would not be unusual to observe an individual who earns more than​ $100,000, but it would be highly unusual to ob
    9·1 answer
  • Product variety is likely to be greater in
    5·1 answer
  • With respect to the consumer price index, the substitution bias arises because:
    12·1 answer
  • On Dec 1, 2019 ABC purchases a piece of equipment with a total cost of $[YOUR NUMBER] * 1000. The equipment is expected to have
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!