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sweet [91]
3 years ago
12

On December 31, 2021, Coolwear Inc. had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $47,500 and

$2,000, respectively. During 2022, Coolwear wrote off $650 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $4,300 at December 31, 2022. Bad debt expense for 2022 would be:
Business
1 answer:
olchik [2.2K]3 years ago
8 0

Answer:

Bad debt expense for 2022 would be $2,950.

Explanation:

Bad debt expense for 2022 can be calculated as follows:

Bad debt expense for 2022 = Allowance for uncollectible accounts of  at December 31, 2022 - (Balances in Allowance for Uncollectible Accounts on December 31, 2021 - Accounts receivable written off) = $4,300 - ($2,000 - $650) = $2,950

Therefore, Bad debt expense for 2022 would be $2,950.

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You have recently been hired as the operations manager by a small, but growing distributor for industrial products. After your f
Tamiku [17]

Answer:

An important issue to address because the new ratio suggests the product sales of these strategically important products has slowed significantly.

Explanation:

Since in the question it is mentioned that the inventory turnover ratio would be decreased from 6 to 2 so here this means that the new ratio would be significant for that products who has fall significantly as there is a more inventory as compared with the sales of the company

Also the inventory turnover ratio represents the problem that show the fall in the sales & overstocking

6 0
3 years ago
Michael (single) purchased his home on July 1, 2009. He lived in the home as his principal residence until July 1, 2017 when he
Nadya [2.5K]

Answer:

correct option is C. $250,000

Explanation:

given data

sold the home and gain = $300,000

to find out

amount of the gain allowed to exclude from gross income

solution

we know that Michael owned the property for the 10 years

so here Michael is not allowed to exclude the gain = 10 % that is $30,000

and The maximum gain exclusion permitted =  $250000

so here Michael will recognize $50,000 because amount exceed $250,000 for a single taxpayer and exclusion of gain on sales of property tax payer need to own and occupy the property as principle residence for the  2 out of 5 year immediately preceding the sales

so here correct option is C. $250,000

5 0
3 years ago
What is a Technical Writer?<br><br> Please be fast! Thank you!
juin [17]

A technical writer is a professional information communicator whose task is to transfer information between two or more parties.

5 0
4 years ago
Read 2 more answers
HELP PLZ NO DOWNLOADS OR LINKS IT WILL BE REPORTED AND ANY UNHELPFUL ANSWERS
pochemuha

far left = top left

middle left = top right

left middle = bottom right

far left = bottom left

6 0
3 years ago
Eric is a loan assistant, but wants to become a commercial lender, so he engages in self-directed learning, seeks out feedback f
geniusboy [140]

Answer:

Competence

Explanation:

One of the best ways to learn new ideas and work is to self-learn them. It helps to engage and learn new things, Eric wants to become a commercial lender that is why he tries to seek out feedback from his manager and he manages his own workload. Eric is trying to build his own competence to work effectively and effectively.

8 0
3 years ago
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