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nika2105 [10]
3 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]3 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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Han Cho has served in the US Army Reserves for two years. He is currently on active duty, stationed outside of the U.S. and is g
sashaice [31]

Answer:

Once Han returns to the US, his civilian employer is required to take him back.

Soldiers who are no longer in active duty and return to civil life again, have the right to return to their previous civilian jobs. Serving in the military is a very important task and soldiers should not be economically hurt because they served their country and employers are required to give them back their old job.

5 0
3 years ago
Tript Corporation has a process costing system and uses the weighted-average method. The company had 3,000 units in work in proc
Alekssandra [29.7K]

Answer:

11,600 units

Explanation:

Equivalent units for conversion costs :

Equivalent units = 10,000 x 100 % + 4,000 x 40 % = 11,600

The equivalent units for February for conversion costs were: 11,600 units

6 0
3 years ago
Suppose Kendall's had cost of goods sold during the year of $ 260 comma 000. Beginning merchandise inventory was $ 20 comma 000​
kiruha [24]

Answer:

Inventory turnover = 9.45

Explanation:

Inventory turnover is defined as the ratio between Cost of good sold and average inventory.

Average inventory is defined as follows, where BI = Beginning merchandise inventory and EI = Ending merchandise inventory:

Average Inventory = \frac{BI + EI}{2}

Average Inventory=\frac{20000+35000}{2}=27500

then:

Turnover = \frac{260000}{27500} \\Turnover = 9.45

6 0
3 years ago
A manufacturing company reports the following items:
QveST [7]

Answer:

The cost of goods sold is  $ 4,800.

Explanation:

This problem requires us to calculate cost of good sold. The opening and closing balance of finished goods is given in the question. The cost of good manufactured is also provided in the question.

The cost of good sold can be calculated by finding the amount transferred from finished good account. Detail calculation is given below.

Finished good inventory begining       $ 1,000

Cost of good manufactured                  $ 5,000

Finished good inventory ending           ($ 1,200)

Cost of good sold                                   $ 4,800

5 0
3 years ago
Janie has a joint account with her mother with a balance of $562,000. Based on $250,000 of Federal Deposit Insurance Corporation
vaieri [72.5K]

Answer:

$31,000

Explanation:

Given:

Janie holds joint account with her mother that has a balance of $562,000. They are covered up to $250,000 each under Federal Deposit Insurance Corporation.

It is assumed by FDIC that all co-owners' shares are equal.

So, Janie's share in the balance = 562,000 ÷ 2

                                                       = $281,000

Amount insured = $250,000

Uninsured amount = 281,000 - 250,000

                               = $31,000

Therefore, Janie's savings worth $31,000 will not be covered by deposit insurance.

4 0
3 years ago
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