When did banks of deposit first arise?

In accounting for uncollectible receivables, the balance in Allowance for Doubtful Accounts will directly impact the amount of t

andriy [413]

Answer:

c. the analysis of receivables method.

Explanation:

In accounting for uncollectible receivables, the balance in Allowance for Doubtful Accounts will directly impact the amount of the adjustment when applying the analysis of receivables method.

The uncollectible account for receivables includes loans, credit sales or other debts that the business isn't expecting payment for and they are recorded as bad debt expense on the balance sheet.

The allowance for doubtful account method is used to account for the bad debt expense, and recorded before the bad debt occurs.

Basically, there are two (2) main methods of determining uncollectible accounts for receivables under the allowance method, these are;

1. The analysis of receivables method.

2. The percentage of sales method.

In this scenario, we are more concerned with this;

The analysis of receivables method is used to determine uncollectible account for receivables based on the age of respective accounts receivable.

4 0

3 years ago

Negative feedback received during the final evaluation of the decision indicates:______A. the decision was a bad one. B. impleme

kumpel [21]

Answer:

E) Any of the above may be possible.

Explanation:

Negative feedback means any of following reasons are possible:

1. The decision was a bad one (most probably)

2. More information and new suggestions should be incorporated since the more input better will be the output

3. More time, resources, effort and thought are needed

4. Manager may have to re-start the decision process from beginning

8 0

3 years ago

Read 2 more answers

Now you must decide who should be on the team. Kelly will be on the team as a matter of course, and you must choose three other

Maurinko [17]

Answer: The best choices would have been Deepak Menon, Ruby Coulbury, and Ethan Atkinson

Explanation:

Team work requires the best of those not only coming to the team with their talent and idea but those who'd be willing to put their everything to make sure the project being carried out is a success, failure to do so would just be having bunch of talented people with no passion but woould rather work for personal gain and fame. Choosing the best shouldn't just be what they can do but also how passionate are they. That's why the best choices would have been Deepak Menon, Ruby Coulbury, and Ethan Atkinson based on their passion accompanied with their talent.

7 0

3 years ago

Using the following end-of-year information, calculate the number of days' sales in receivables for Year 2.

victus00 [196]

Answer:

The number of days' sales in receivables for Year 2 is 48.7

Explanation:

The formula that is applicable to this scenario is the accounts receivable divided by sales multiplied by 365 days

The number of days' sales in receivables=$11,000/$82,500*365=48.67

The correct option is D, since the 48.67 was simply rounded down to one decimal place.

6 0

3 years ago

During the year, Belyk Paving Co. had sales of $2,560,000. Cost of goods sold, administrative and selling expenses, and deprecia

scoundrel [369]

Answer:

Net income -$268,000

Operating Cash Flow $511,000

Explanation:

A. Calculation for the Net income

INCOME STATEMENT

Sales $2,560,000

Cost of goods sold $1,364,000

Other expenses $685,000

Depreciation $477,000

EBIT $34,000

Interest $302,000

Taxable income -$ 268,000

($34,000-$302,000)

Taxes (24%) 0

Net income -$268,000

CALCULATION FOR EBIT

Sales $2,560,000

LESS:Cost of goods sold ($1,364,000)

Other expenses ($685,000)

Depreciation ($477,000)

EBIT $34,000

Based on the information given we were told that we should ignore any tax loss which was why Taxes (24%) was $0

The taxes are zero since we are ignoring any carryback or carryforward provisions.

Therefore NET INCOME is -$268,000

B. Calculation for operating cash flow

Using this formula

Operating Cash Flow = EBIT + Depreciation - Taxes

Let plug in the formula

Operating Cash Flow= $34,000 + $477,000 - 0

Operating Cash Flow = $511,000

Therefore Operating Cash Flow is $511,000

3 0

3 years ago