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
sattari [20]
3 years ago
8

Gregg Company uses the allowance method for recording its expected credit losses. It estimated credit losses at three percent of

credit sales, which were $900,000 during the year. On December 31, the Accounts Receivable balance was $150,000, and the Allowance for Doubtful Accounts has a credit balance of $12,200 before adjustment.
Required:
a. Prepare the adjusting entry to record the credit losses for the year
b. Show how Accounts Receivable and the Allowance for Doubtful Accounts would appear in the December 31 balance sheet.
Business
1 answer:
Burka [1]3 years ago
8 0

Answer:

ftyvybbybthhhhhfhfhfhfhf

You might be interested in
It costs Sunland Company $28 of variable costs and $18 of allocated fixed costs to produce an industrial trash can that sells fo
Usimov [2.4K]

Answer:

The effect that will happen on the net income is an increase in $6,000.

Explanation:

For this product, we have:

Price: $90.

Variable cost: $28

Allocated fixed cost: $18

There is an opportunity to sell 3,000 units at $30, and the firm has excess capacity.

As the allocated fixed cost only counts for the existing level of production (before accepting the 3,000 additional units), they don't matter in the decision.

With excess capacity, the firm only incurs in the variable cost of $28 per unit. If the price is $30, the variation in the net income will be:

\Delta NI=Q(P'-VC)=3,000*(30-28)=3,000*2=6,000

The effect that will happen on the net income is an increase in $6,000.

3 0
3 years ago
Pascal is a customer-service representative who handles phone inquiries. He has a goal of handling 12 calls per hour. When he ge
Montano1993 [528]

Answer:

A. Ill-conceived goals

Explanation:

Ill-conceived goals refers to setting of goals or incentives in order to promote a desired behavior whereas indirectly encouraging a negative one.

When setting ill-conceived goals, the unintended effects of these goals should duly be taken into consideration.

7 0
3 years ago
Read 2 more answers
Which of the following is not included in the heading of a cover letter
eduard
Since no choices are presented, I'll just list down the parts of a cover letter.

A cover letter is a one page document that is attached to a resume. It has 5 parts.

1) The Salutation : Dear Hiring Manager,
2) The Grab - Opening Paragraph - introduction about yourself and your immediate qualification on the position you are applying
3) The Hook - Second Paragraph - examples of work performed and its results
4) Paragraph of Knowledge - Third Paragraph - knowledge you have about the company and its needs in connection with your application.
5) The Close - Fourth Paragraph - quick summary of what you are offering and how they can contact you.
3 0
3 years ago
Read 2 more answers
Consider three investment plans at an annual rate of 9.38%.
PolarNik [594]

Answer:

Investor A = $545216 .

Investor B = $352377

Investor C = $897594

Explanation:

Annual rate ( r )  = 9.38%

N = 41 years

<u> Calculate the balance at age of 65</u>

1) For Investor A

balance at the end of 10 years

= $2000 (FIA, 9.38 %, 10) (1 + 0.0938) ≈ $33845

Hence at the end of 65 years ( balance )

= $33845 (FIP, 9.38 %, 31) ≈ $545216 .

2) For investor B

 at the age of 65 years ( balance )

= $2000 (FIP, 9.38%, 31) = $322159 x (1 + 0.0938) ≈ $352377

3) For Investor C

at the age of 65 years ( balance )

= $2000 (FIP, 9.38%, 41) = $820620 x (1 + 0.0938) ≈ $897594

7 0
2 years ago
Your investment banker has presented you with the following list of business characteristics of a small company your company is
wariber [46]

Answer:

A

Explanation:

The list contains more weaknesses than strengths

The list of weaknesses are:

Excess manufacturing capacity relative to market; If you are producing more than you are selling then its a weakness

Large inventories; that dont sell its a weakness

Lack of management depth; means that management does not have a proper foundation

Management turnover; if you keep changing management it will affect the company as skilled workers will be leaving

The list of strengths are:

Cost advantages; cost advantage against your competitors is an added strength

Market leadership; having a large market share is equally an advantage

6 0
3 years ago
Other questions:
  • Why is looking at cash flow an important step in a good financial plan?
    11·2 answers
  • An organization that has a relatively diverse employee population and makes an effort to involve employees from different gender
    11·1 answer
  • Give brief definitions of the following concepts: Game theory, cooperative equilibrium, noncooperative equilibrium, dominant str
    11·2 answers
  • If a company is concerned about lending money to a risky customer, which one of the following would it not want to do? Require t
    10·1 answer
  • Martin, an employee at a boutique store, is required to handle store displays and also ensure that all the sales records tally a
    15·1 answer
  • What organization or program interests you the most?
    7·2 answers
  • GPB's contribution margin ratio is 85% ( or .85) and its fixed monthly expenses are $63,000. Assume that the cost structure of G
    7·1 answer
  • Superior Company has provided you with the following information before any year-end adjustments: Net credit sales are $131,750.
    6·1 answer
  • The practice of using team selling to focus on important customers so as to build mutually beneficial, long-term, cooperative re
    14·1 answer
  • in a management information system, structuring the data component to define what type of data is collected and in what form is
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!