All categories

2 years ago

Under the allowance method for estimating uncollectible accounts, the entry to write off an account:

Business

2 answers:

Effectus [21]2 years ago

7 0

$\huge\red{answer}$

DEBIT TO ALLOWANCE for Doubtful Accounts and a credit to Accounts Receivable.

===========================================

When a specific customer's account is identified as uncollectible, it is written off against the balance in the allowance for bad debts account.

HOPE IT HELP

STAY SAFE

STUDY HARD

tekilochka [14]2 years ago

3 0

$\large\rm\color{Brown}Answer:$

Debit to allowance for Doubtful Accounts and a credit to Accounts Receivable.

You might be interested in

The race to the bottom scenario of global environmental degradation is explained roughly like this: a. Companies seek to reduce

irga5000 [103]

Answer:

The answer is "Option c".

Explanation:

When there is racing to a bottom scenario, this should be stated that the multinationals looking for profit are shifting production from such countries with strict environmental regulations to minimize the order, thus generating revenue, that's why the profit-based corporations relocate their manufacturing from strong environmental regulations to low standard countries and thereby lower their costs and increase profits.

7 0

2 years ago

A distribution of scores that is positively skewed will have a small number of scores that:

PilotLPTM [1.2K]

Answer:

A distribution of scores that is positively skewed will have a small number of scores that are very high.

Option C is correct.

Explanation:

A distribution is said to be normal if the value of skewness is equal to zero, this type of distribution is symmetric.

However, if the skewness value is less than zero, then the distribution is negatively skewed and if the skewness value is greater than zero then the distribution is positively skewed.

For a positively skewed distribution, the tail is elongated downward, and the mean value is greater compared with median and mode. Hence, the observations are extremely high and the mean is distributed upward.

4 0

2 years ago

13. Jorge is concerned that something might happen to his most valuable documents such as his passport and Social Security card.

Setler79 [48]

Answer:

A safe deposit box

Explanation:

3 0

2 years ago

Compute the Cost of Goods Sold for 2016 using the following information: Direct Materials, Jan. 1, 2016$50,000 Work-in-Process,

fiasKO [112]

Answer:

COGS= $154,500

Explanation:

<u>First, we need to calculate the cost of goods manufactured:</u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

Direct material used= beginning inventory + purchases - ending inventory

Direct material used= 50,000 + 95,000 - 63,000= $82,000

cost of goods manufactured= 74,500 + 82,000 + 58,500 + 79,500 - 107,000

cost of goods manufactured= $187,500

<u>Now, the cost of goods sold:</u>

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 125,000 + 187,500 - 158,000

COGS= $154,500

3 0

2 years ago

Tennessee Corporation is analyzing a capital expenditure that will involve a cash outlay of $109,332. Estimated cash flows are e

Mazyrski [523]

Answer:

Explanation:

Internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested

IRR can be calculated with a financial calculator

Cash flow in year 0 = $-109,332

Cash flow each year from year 1 to 4 = $36,000

IRR = 12%

To find the IRR using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the IRR button and then press the compute button.

8 0

3 years ago