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
bixtya [17]
3 years ago
11

On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $31,000

and $500, respectively. During Year 2, Kincaid reported $72,500 of credit sales, wrote off $550 of receivables as uncollectible, and collected cash from receivables amounting to $74,550. Kincaid estimates that it will be unable to collect one percent (1%) of credit sales.
What effect will recognizing the uncollectible accounts expense for Year 2 have on the elements of the financial statements?
a) Increase total assets and retained earnings
b) Decrease total assets and increase retained earnings
c) Decrease total assets and net income
d) Increase total assets and decrease net income
Business
1 answer:
Diano4ka-milaya [45]3 years ago
3 0
D Increase total assets and decrease net income
You might be interested in
Two or more organizations that join forces in order to achieve advantages that neither can perform as well alone are known as __
SpyIntel [72]

Answer:

correct answer is Strategic allies

Explanation:

Strategic allies is a arrangement between 2 or more than 2 organization for undertaking mutual beneficial projects even both retain their independence.

as they have less complex than a joint venture  

and for improving their product and development competitor in the market , they can enter into a strategic alliance

so as that both organizations can work on common coal with benefit

so correct answer is Strategic allies  

5 0
3 years ago
when sending a claim to the insurance company for services provided by the physician why are both ICD-10 and CPT codes required
SSSSS [86.1K]

When a patient receives services from a licensed doctors, these services are recorded and assigned codes by the medical coder. ICD codes are used for diagnoses, while CPT codes are used for various treatments. The summary of these services, through these code sets, make up the bill. Medical Claim Billings are rejected when Diagnostic code (ICD-10 code) and procedure code (CPT code) are missing, not complete, or do not match to the treatment given by the physician.

8 0
3 years ago
Great Lakes Steel Supply is losing significant market share and thus its managers have decided to decrease the firm's annual div
Colt1911 [192]

Answer:

There's an error in the numbers for this question; I found the correct one and pasted it below;

"Great Lakes Steel Supply is losing significant market share and thus its managers have decided to decrease the firm's annual dividend. The last annual dividend was $1.30 per share but all future dividends will be decreased by 2.75 percent annually. What is a share of this stock worth today at a required return of 15.5 percent? "

Explanation:

Use dividend discount model (DDM) to calculate the stock price

P0 = \frac{D0(1+g)}{r-g}

whereby,

P0 = Current price

D0 = Last dividend paid = 130

g = growth rate = -275% or -2.75 as a decimal

r = required return = 155% or 1.55 as a decimal

Next, plug in the numbers to the DDM formula above;

P0 = \frac{1.30(1-0.0275)}{0.155 + 0.0275} \\ \\ = \frac{1.2643}{0.1825} \\ \\ =6.9277

Therefore this stock is worth $6.93

6 0
3 years ago
Integrated marketing communications is a strategic approach designed to achieve the objectives of a marketing campaign using the
MakcuM [25]
<h2>The given statement is true.</h2>

Explanation:

  • In marketing this is a holistic approach for communicating product promotion to the customer
  • Available in both offline and online
  • Used for creating seamless customer experience
  • Applicable for One-to-one-marketing, direct marketing and mass marketing
  • It consists of advertising, public relation sales promotion, etc
  • This is done to attract customer and bring more business
  • This has an ability to reach many customers through variety of channel
  • It can attract all types of customers
4 0
3 years ago
Quantity (Units) Private Value (Dollars) Private Cost (Dollars) External Cost (Dollars)
bija089 [108]

Answer:

c. there is a negative externality.

Explanation:

At the time when one individual actions develops the benefits for others but at the same time they dont pay so it is to be known as positive externality

At the time when one individual action develops loss but the other who received the loss because of the action of the person so for this they didnt get the compensation so it is the negative externality

As we can see that there is three types of values so the correct option is c.  

3 0
3 years ago
Other questions:
  • An investment firm recommends that a client invest in bonds rated​ AAA, A, and B. The average yield on AAA bonds is 4​%, on A bo
    14·1 answer
  • The first step of the financial planning process is to: A. develop financial goals. B. implement the financial plan. C. analyze
    6·2 answers
  • If the agreement between Elijah and the Canadian buyer was never written down, could Elijah be liable to the Canadian buyer for
    10·1 answer
  • Unlike consumer-focused salespeople, business-focused salespeople:​ question 23 options: ​require customers to come directly to
    10·1 answer
  • An entrepreneur takes a risk to create a new product or a better way to operate a business.
    9·2 answers
  • An 85-year old risk averse investor is not happy about the minimal return she is earning on her current investments. She is stre
    8·1 answer
  • Buyers in country X prefer to use the older, cheaper version of Firm A's product although it is bulkier and less user-friendly.
    10·1 answer
  • During the current year, the Guileman Manufacturing Company signed a noncancelable contract to purchase 1,000 lbs. of a raw mate
    8·1 answer
  • The manager of the Quick Stop Corner convenience store (which is open 360 days per year) sells four cases of Stein soda each day
    7·1 answer
  • When merchandise sold is assumed to be in the order in which the purchases were made, the company is using.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!