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nika2105 [10]
2 years ago
13

When the allowance method of recognizing uncollectible accounts is used, the entries at the time of collection of a small accoun

t
previously written off that was not expected to be collected
A. Have no effect on the allowance for credit losses.
B. Increase net income.
C. Decrease the allowance for credit losses.
D. Increase the allowance for credit losses.
Business
1 answer:
slavikrds [6]2 years ago
6 0

The allowance method of recognizing uncollectible accounts used is one where there is no effect on net income.

<h3>What is the allowance method?</h3>

This is known as a method that entails the use of or the act of setting aside a kind of reserve for bad debts that are seen or foretell to take place in the future.

The reserve is one that is based on a percentage of the sales gotten in a reporting period, in terms of those adjusted for the risk linked with some customers.

Learn more about allowance method  from

brainly.com/question/6993526

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By examining relationships between items in the statement of cash flows, investors and creditors can do all of the following exc
d1i1m1o1n [39]

Answer:

determine cash investing and financing transactions made during the period.

Explanation:

When you analyze the statement of cash flows, you can determine and predict how will operating cash flows be in the future. E.g. a project is generating high amounts of cash, so you can predict that it will continue to do so for some time. But what you cannot predict or even compare is related to the financial and investing transactions that the company will make in the future. E.g. by analyzing a cash flow you cannot know if the company will decide to invest in other projects or will it decide to issue more stocks.

5 0
3 years ago
Alden Trucking Company is replacing part of its fleet of trucks by purchasing them under a note agreement with Kenworthy on Janu
pantera1 [17]

Answer:

The multiple choices are:

A. $1,000,000.

B. $2,790,800.

C.$3790, 800.

D.$4,000,000

The correct optio is C,$3790, 800.

Explanation:

The interest expense on the loan is usually the opening balance multiplied by the market rate interest which is 10% in this question.

In addition,we can deduct the annual repayment in order to know the closing balance of the loan.

Year   opening bal                interest expense at10% repayment   closing bal.

2019    $37,908,000      $3,790,800                $4,000,000

The closing balance is $37,908,000+  $3,790,800-$4000,000

The interest expense is 10% of the present value of $37.908,000 that is  $ 3,790,800.00  

6 0
3 years ago
In your own words, interpret what 33% of all goods and property are owned by 1% of the
Radda [10]

Answer:

Explanation:

It means that there must be a huge number of people that have little or nothing.

The most recent estimate of America's population is 331,000,000 roughly

1% of the population is 331,000,000 * 1/100 = 3,310,000

So that means that 3 million people own 33% of 14 trillion in property alone. These numbers are really hard to imagine.

1 trillion has 12 zeros behind it

so 14 trillion has 12 zeros behind it.

3 million people own 1,400.000,000 = 14 000 000 000 000 dollars worth of property.

That means that each person in that group of 3 million is 1 of 14 , 000, 000 in wealth just in property alone. The goods will dilute this somewhat, but I think you get the idea.

3 million people in the United States are multimillionaires, if they own 100% of the property. Of course that isn't true, but I think it's fair to say that they are not poor either.

6 0
2 years ago
Ken, a transaction broker, worked with both the buyer and seller in the sale of a home. The sale went well and it closed on time
vovangra [49]
Ken, the agent, violated the law of agency  
In this particular instance, when Ken told the the buyer that the seller would take a lower price than what was on the listing in order to close the sale faster and then told the buyer exactly which price they should offer, Ken, who is the agent, has now violated the law of agency
6 0
3 years ago
If a monopolistically competitive firm raises its price, it a. loses all of its customers (sales drop to zero) as your answer lo
borishaifa [10]

Answer:

c. loses some, but not all, of its customers as your answer loses some, but not all, of its customers

Explanation:

In a monopolistically competitive product is a product that has competition in the market, but that are not quite the same product, meaning they can´t be exactly replaced by a cheaper or different brand, when a company like that rises its prices, it eventually ends up loosing some clients, but not all, because of the loyal clients and those that can´t or won´t change brands, a good example of a monopolistically competitive firm, would be Apple, which has a loyal base of costumers that eventhough prices of apple products have been rising are still loyal, they are loosing some customers to other brands but not all of them.

8 0
3 years ago
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