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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:

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Suggest one project that bricks construction could implement to address each key problem area listed in the scanario above
IgorC [24]
The projects that bricks construction can do are :
- Lack of housing >> They can provide more houses that available for their workers

- Unemployment >> They could teach some finance/entrepreneurial skills to the individuals nearby

- Poor Education and training >> They could build some sort of education center for specific job
7 0
2 years ago
The unique markings and small cuts on the sole of a suspect's shoe are unique because of continued wear and use. these markings
Solnce55 [7]

The answer is: individual characteristics

In forensic, individual characteristics refers to a trail of evidence that could only be made by someone with a specific background or someone who are used to a certain type of behavior.

From markings and cuts and the sole, investigators could predict the general activities that usually done by the owner of the shoe. This would helped them identify the victim and help to unfold what happened to that victim when the crime occurred.

6 0
3 years ago
On July 1, Goblette Company sold some machinery to another company. The two companies entered into an installment sales contract
malfutka [58]

Answer:

The value of all future payments discounted by the interest rate

Explanation:

Since the purchase of the asset is by installments to be paid in the future. The present value to be recognized is the sum of the future payments discounted at the predetermined interest rate.

The first payment due now will not have to be discounted but future payments will have to be discounted to ascertain the present value of the asset to be recognized in the balance sheet.

7 0
3 years ago
Read 2 more answers
Using the constant growth model, Camp Company's expected dividend yield ( D1) is 4% of the stock price, and its growth rate is 6
s2008m [1.1K]

Answer:

Ks = 4%+6% = 10%

Explanation:

so we need  to remember that tax rate doesn't affect Cost of equity

in this case the formula will be:

cost of equity is equal to=dividend yield+Growth rate  or Ks = D1/P + g

Camp Company's expected dividend yield ( D1) is 4%

growth rate is 6%

SO we get Ks = 4%+6% = 10%

5 0
3 years ago
An employee earns $5,550 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,400
Klio2033 [76]

Answer:

$4,713.425

Explanation:

The computation of amount of net pay for the employee for the month of January is shown below:-

Deductions = (Gross earning × Social security tax rate) + (Gross earning × Medicare tax rate) + Federal income taxes + Health insurance + Contribution of retirement plan

=  ($5,550 × 6.2%) + ($5,550 × 1.45%) + $184 + $152 + $76

= $344.1 + $80.475 + $184 + $152 + $76

= $836.575

Net pay = Gross earning - Deductions

= $5,550 -  $836.575

= $4,713.425

Therefore for computing the net pay we simply applied the above formula.

3 0
3 years ago
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