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
spin [16.1K]
2 years ago
11

In 2022 the Splish Brothers Inc. had net credit sales of $1020000. On January 1, 2022, the Allowance for Doubtful Accounts had a

credit balance of $23100. During 2022, $34200 of uncollectible accounts receivable were written off. Past experience indicates that the allowance should be 10% of the balance in receivables (percentage-of-receivables basis). If the accounts receivable balance at December 31 was $242000, what is the required adjustment to the Allowance for Doubtful Accounts at December 31, 2022
Business
1 answer:
zaharov [31]2 years ago
5 0

Answer:

$35,300 (Credit)

Explanation:

Given that;

Allowance = 10% × $242,000 = $24,200

Amount written off of $34,200 would have made the balance in the allowance for doubtful debts

= $34,200 - $23,100

= $11,100 (Debit)

However, the balance in the account at the end of the year should amount to $24,200 hence the adjustment required

= $24,200 + $11,100

=$35,300 (Credit)

You might be interested in
Question 2 of 10
gavmur [86]

Answer:

C.

Explanation:

The term used to define standards of behavior that governs individual's and companies conduct is ethics.

The term ethics is derived from the Greek word ethos, meaning, way of living. Ethics comes under the rubric of philosophy and is related to the subject of human conduct, especially concerning the actions of humans towards the society.

Ethics are those moral principles in which the conduct of companies and human behaviors are anchored.

Therefore, the correct answer is option C.

3 0
2 years ago
Laura is head of ABC Systems. She needs to allocate a fixed amount of funds to various projects. There are two top projects that
TEA [102]

Answer: A. dialectic method

Explanation:

The DIALECTIC METHOD or DIALECTICS at it's basic level is a sort of debate between people of opposing viewpoints who wish to use the debate to come up with the best viewpoint by stating the facts and truths of their viewpoints.

They speak on whatever misgivings they may have about the other and explain in a logical manner why their views are better.

It is 'sort' of like a debate because unlike debates, it isn't supposed to get emotional but be fact and merit based.

3 0
3 years ago
What happens when the price of a good increases
swat32

Answer:

the value of good increases (goes up)

3 0
2 years ago
Which of the following is NOT a common feature of a
Lyrx [107]

Answer:

Investment trading

Explanation:

Financial institutions' core business is to sell loans. They accept deposits from customers and use those deposits to create loans to firms and individuals. Financial institutions are intermediaries of credit; they connect the demand and the suppliers of credit. Direct deposits are a way of depositing money while ATM's and debits card gives customers access to their deposits.

Investment trading is a service offered by stock exchange markets through stockbrokers and investment banks.

I

6 0
2 years ago
Why is it an advantage to have a several job while you are building your career
krok68 [10]
To show that you have experience in the working field like if you're working in construction, masonry, carpentry, ect. But you want to be a brick welder and your employer will look at your job history and see the experience in the jobs that you worked for in the previous years and he would have a higher percentage of hiring you because of your experience.
6 0
3 years ago
Other questions:
  • Housing prices in a certain neighborhood average at $90.75 per square foot. If one house in this neighborhood is 1100 square fee
    6·1 answer
  • Movie studios use market research to reduce their risk of losses by hiring firms such as the National Research Group to conduct
    14·1 answer
  • What part of a check is the least important
    10·2 answers
  • A company that makes organic fertilizer has supplied the following data: Bags produced and sold 200,000 Sales revenue $ 1,560,00
    7·1 answer
  • In order to be​ effective, a persuasive​ ________ should include a thorough and detailed review of the​ facts, and be written in
    9·1 answer
  • Which of the following best describes the main difference between B2B and B2C transactions? B2B transactions involve transaction
    12·1 answer
  • Your grandparents put $10,200 into an account so that you would have spending money in college. You put the money into an accoun
    13·1 answer
  • Jones Company bought Wood Company in 2020 and appropriately recorded $750,000 of goodwill related to the purchase. On December 3
    11·1 answer
  • Management of Wee Ones (WO), an operator of day-care facilities, wants the company's profit to be subdivided by center. The firm
    7·1 answer
  • Penny Lyman is the owner and operator of Go109, a motivational consulting business. At the end of its accounting period, Decembe
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!