Delectable, Inc.'s unadjusted trial balance includes Accounts Receivable of $10,000; Allowance for Doubtful Accounts of $50 credit balance; and Sales Revenue of $100,000 (all on credit). Management estimates that 2% of credit sales will be uncollectible. Delectable's financial statements will show ______. (Check all that apply.)

Answers

Answer 1

Delectable's financial statements will show Allowance for Doubtful Accounts of $1,000 on balance sheet and Bad debts expense of $950 on Income statement

Here, we are to determine the records of bad debts expenses on Income statement and Allowance for doubtful accounts on Balance sheet.

Bad debts expense = Estimated bad debts - credit balance in allowance account

Bad debts expense = $1,000 - $50

Bad debts expense = $950

                            Journal Entry

General journal                                  Debit   Credit

Bad debts expense                            $950

Allowance for Doubtful accounts                   $950

(Bad debts expense recorded)

The allowance for doubtful account will be $1,000. ($950+$10) because the Allowance for Doubtful Accounts had $50 credit balance.

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Related Questions

what is it called when government regulations are needed to protect customers

Answers

Answer:

Regulatory compliance 

Explanation:

I think this is what your looking for

At the beginning of the year, Jobs Co. owned one piece of office equipment, a copier. The copier was purchased two years ago for $12,000. At the beginning of the year, the balance in accumulated depreciation was $4,000. Jobs uses straight-line depreciation of $2,000 per year with a zero salvage value. How much is accumulated depreciation at the end of the year

Answers

Answer:

$6,000 is accumulated depreciation at the end of the year.

Answer:

Your answer would be $6,000

Explanation:

Because at the beginning it was $4000 and then every year it added $2000

so the at the end of the year it would be $6000

which option has had the least impact on international business?

Answers

Do you have multiple choice question with this question or not?

in response to a shortage caused by the imposition of a binding price ceiling on a market,

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In response to a shortage caused by the imposition of a binding price ceiling on a market,

a. price will no longer be the mechanism that rations scarce resources.

b. long lines of buyers may develop.

c. sellers could ration the good or service according to their own personal biases.

A binding price ceiling is when the government or an agency of the government sets the maximum price of a good or service below the equilibrium price.

When price of a good is set below the equilibrium price of the good, the producer surplus would decreases and the consumer surplus would increase. This would lead to an excess of demand over supply. As a result, a shortage would occur. As a result of the shortage, black markets would occur.

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which sector has lost more jobs due to technological changes?

Answers

The sector that lost more jobs due to technological change is the Banking sector.

Technological improvement entails the advancement of technology in carrying out business activities supposed to be performed by employees.

The increase in use of software technology means that industries and jobs that relies on employees effort will now rely on computers.

Therefore, the sector which lost more job due to the technological changes is the Banking sector because more software technology are now used, thus resulting to lay-off of bank workers.

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What are the advantages of conducting research in different fields of disciplines?​

Answers

Explanation:

1. research expands your knowledge base

2. research builds your credibility

3. research gives you the latest information

hilton’s vp of talent & inclusion mentioned that the company participates in on-campus recruiting. this is an example of what type of recruiting?

Answers

Answer:

hiring from within

Explanation:

The company looks for internal candidates that exhibit leadership skills and qualities. This type of practice motivates employees and shows there is an opportunity for growth from within the company.

returning workers confront creepy time capsules of pre-pandemic life

Answers

The main idea of this article is to expose the space that workers found when returning to their workplaces after isolation from the pandemic.

The article talks about the workplaces that had particular aspects after having been alone for 18 months of isolation due to the pandemic. For example:

There was spoiled food that was left there 18 months ago.Calendars for the first months of the year 2020.

This situation originated because the workers carried out their daily work routine and did not contemplate being forced to isolate themselves for prevention to acquire the virus of the pandemic of the year 2020.

This question is incomplete because the question is missing. The question is:

What is the main idea of the article?

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allocating the cost of intangible assets to expense is referred to as

Answers

Answer: Amortization

Explanation:

Amortization is the systematic allocation of an intangible asset's depreciable amount over its useful life. The depreciable amount is the asset's cost less the residual value.

What is meant by the allocation of expenses?

When indirect expenses are attributed to cost objects, an expense allocation occurs. Several accounting frameworks demand expense allocations in order to represent the full cost of inventories in financial statements. A cost object is anything that has a cost compiled for it.

Amortization is the act of transferring the cost of intangible assets to expense, and corporations nearly generally utilize the straight-line technique to amortize intangible assets. Patents. Patents grant the exclusive right to manufacture or sell innovative inventions.

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#SPJ2

the standard deviation is a better measure of risk than the coefficient of variation if the expected returns of the securities being compared differ significantly.

Answers

Answer:

False

Explanation:

Invest in what you know than what you don’t know:

I need 3-4 sentences on this PLEASE HELP ME

Answers

If you don’t know anything about the stock market then it wouldn’t be smart to start investing a lot of money into right? Going into an investment clueless will only set you up for failure. Investing in things you do know is more likely to have a better outcome

I pulled this out my ašš hope it helps :)

studies exploring nurses’ perceptions about using robots to insert ivs found initial resistance, with some nurses concerned about the cost and potential patient harm of these devices. as part of the ________ stage of change, the nurses’ managers are modeling how to use the robots and demonstrating their high level of accuracy.

Answers

Answer:

Explanation:

Refreezing

In the description given above, we see that the nurses have gone beyond resisting the use of robots to insert IVs to modeling the use of robots in this practice. They have undergone a change.

As part of the Refreezing stage of change, the nurses’ managers are modeling how to use the robots and demonstrating their high level of accuracy.

The refreezing stage of change refers to the point when the person who is learning a new concept has started adopting it and making it a part of him or her.

This is what happens to the nurses as they no longer resist the idea of using robots in administering IVs. They are now modeling its use.

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In macroeconomics, _____________________ denotes the relationship between the total quantity of goods and services and the price level for output.

Answers

Answer: aggregate demand

Explanation:

Do you believe that employees communication helps on a business?​

Answers

Answer:

Yea I do cus the more people understand each other the more things go by smoothly, you know there's a saying, ✨communication✨ is the answer

the group of consumers to whom a product is marketed is the

Answers

Answer:

A target market is a group of customers with shared demographics who have been identified as the most likely buyers of a company's product or service.

Task C:
1. What methods of growth
would you suggest to the
owner of a small successful
family hotel that has
accumulated profits for
several years?

Answers

Answer:

First, they assume that a company must grow and pass through all stages of development or die in the attempt. Second, the models fail to capture the important early stages in a company’s origin and growth. Third, these frameworks characterize company size largely in terms of annual sales (although some mention number of employees) and ignore other factors such as value added, number of locations, complexity of product line, and rate of change in products or production technology.

To develop a framework relevant to small and growing businesses, we used a combination of experience, a search of the literature, and empirical research. (See the second insert.) The framework that evolved from this effort delineates the five stages of development shown in Exhibit 2. Each stage is characterized by an index of size, diversity, and complexity and described by five management factors: managerial style, organizational structure, extent of formal systems, major strategic goals, and the owner’s involvement in the business. We depict each stage in Exhibit 3 and describe each narratively in this article.

Explanation:

determine the present value now of an investment of $3,000 made one year from now and an additional $3,000 made two years from now if the annual discount rate is 4 percent.

Answers

The present value of the investment is $5,658.29.

The present value is the value of an investment today. It is determined by adding the sum of the discounted cash flows of the investment.

Present value of year 1 cash flows= $3000 / 1.04 = $2,884.62

Present value of year 2 cash flows=$3000 / 1.04² = $2,773.67

Sum of the discounted cash flows = $2,773.67 + $2,884.62 = $5,658.29

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in the long run a company that produces and sells pizzas incurs total costs of $1,050 when output is 90 pizzas and $1,200 when output is 100 pizzas. the pizza company exhibits

Answers

Answer:

The diseconomies of scale because average total cost is rising as output rises.

Explanation:

to ________, lance, an hr manager, shares his company’s job openings on social media and online job postings.

Answers

Organization does recruitment periodically so as to bring individual with fresh brains and of ideals into the organization. To recruit from outside the organization lance, an HR manager, shares his company’s job openings on social media and online job postings.

A recruit in any organization are often regarded as a fresh or additional newcomer to a specific field. They are the newly enlisted or drafted member of a team.

Organization does recruit people to join them.

Conclusively, by posting their vacancies and openings, organization are able to reach recruit from outside their organization to known about the opening and then apply for it.

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The demand curve facing a perfectly competitive firm is:

Answers

Answer:

A horizontal line at the market price

Explanation:

it's means that the price it receive is the same for every unit sold

Which of the following is a lasting impact resulting from 20th-century banking reforms in the United States

Answers

The lasting impact resulting from 20th-century banking reforms in the United States is "the reforms approved the Board to determine reserve requirements and interest rates for deposits at member bank."

The banking reforms made in the 20th century in the United States are many, and many of these reforms are still applicable today.

Some of the lasting effects of these reforms include the following:

The Board of Governors to determine the monetary policy.

The reforms established the Federal Deposit Insurance Corporation.

The reforms also separate commercial banks from investment banks.

Hence, in this case, it is concluded that the many banking reforms made in the 20th century still exist today.

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Answer: Depositer funds are insured against potential loss in the event of a bank failure.

Explanation:

The FDIC enacted the Banking Act of 1935 which persists to today. This act protects depositors from possibility of financial loss. Your funds are legally guaranteed and protected by the government. This insurance protects the likelihood of a bank run, because most depositor funds will not be lost due to the insolvency of any individual firm; it is a fixture of the modern banking system.

write short notes by Napier bone ​

Answers

Answer:

Napier's bones is a manually-operated calculating device created by John Napier of Merchiston, Scotland for the calculation of products and quotients of numbers. The method was based on lattice multiplication, and also called 'rabdology', a word invented by Napier. Napier published his version in 1617.

The notation is Y = GNP = national income C = consumption I = private investment G = government spending X = exports M = imports T = taxes There is an intimate relationship between a country's BCA and how the country finances its domestic investment and pays for government expenditures. Given this, which of the following is a true statement? Multiple Choice All of the options If (S − I) < 0, it implies that a country's domestic savings is insufficient to finance domestic investment. If (T − G) < 0, it implies that a country's tax revenue is insufficient to finance government spending. When BCA is negative, it implies that government budget deficits and/or part of domestic investment are being finance with foreign-controlled capital.

Answers

The true statement is D. When BCA is negative, it implies that government budget deficits and/or part of domestic investment are being financed with foreign-controlled capital.

The above statement is based on the intimate relationship between a country's Balance of the Current Account (BCA) and how the country finances its domestic investments and pays for government expenditure.

Explanation:

National income = Y = GNP

Consumption = C

Private Investment = I

Government spending = G

Exports = X

Imports = M

Taxes = T

Therefore, the BCA = X-M = (S-1) + (T – G)

Where BCA = Balance of Current Account

Thus, the Balance of the Current Account (BCA) should be positive to avoid deficit-financing of government budgets.

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how does the inventory costing methods affect the income statement when costs tend to rise over time?

Answers

Answer:

Cost of Goods Sold on the income statement differs between the methods causing

Income Tax Expense to differ.

Explanation:

Answer:cost of good sold on the income statement

Explanation:

In analyzing the chart, what is the relationship between fees and dollar advanced? What do you think that payday lenders base their fees on?

Answers

Using the information on the chart, there exists a direct proportional relationship between fee and dollar advanced.

From the bar graph, Fee and dollar advanced are represented by the green and brown bars.

Looking closely, the green and brown bars are virtually the same for each of the different number of transactions recorded.

The percentage value of fee, and share of dollar advanced have almost the same percentage in each group.

Therefore, Fee and share of dollar advanced are directly proportional based on the display produced by the bar chart.

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which of the following is an example of capital loss

a) an investor sells a bond on the secondary market above the price she paid for it

b) an investor purchases a bond on the secondary market below its issue price

c) an investor purchases a bond on the secondary market above its issue price

d) an investor sells a bond on the secondary market below the price she paid for it

Answers

Answer:

An investor sells a bond on the secondary market below the price she paid for it.

Explanation:

An example of Capital loss is when an investor sells a bond on the secondary market below the price she paid for it, then she has realized capital loss

Capital loss describes the loss incurred when the capital asset (i.e. investment, real estate) decreases in value.

A typical capital loss is realized when the asset is been sold for the lower amount than the original purchase price.

Therefore, the Option D is correct because when an investor sells a bond on the secondary market below the price she paid for it, then she has realized capital loss

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which type of economy is practiced in the united states today?

Answers

Answer:

mixed economy

Explanation:

1. How does preserving the environment benefit business?

Answers

Answer:

b

Explanation:

by preserving the environment can attract new customers. promoting your environmental friendly methods can set business apart from competitors

PLEASE HELP MEE 50 Pts

Question: What are the local, state, and federal taxes for a healthcare business?

Answers

Answer:

Is health care federal state or local?

The U.S. Department of Health and Human Services is the federal government's principal agency involved with health care services. The states cofund and administer their CHIP and Medicaid programs according to federal regulations. (goo gle)

Explanation:

hope this helps

Who uses the FAFSA once you have submitted it?

Answers

Answer:

Once your FAFSA is processed by Federal Student Aid, your SAR is sent to the colleges that you listed on your FAFSA. Each college will use the information on your SAR to determine your eligibility for federa

Answer:

Once your FAFSA is processed by Federal Student Aid, your SAR is sent to the colleges that you listed on your FAFSA. Each college will use the information on your SAR to determine your eligibility for federal and nonfederal student aid.

Explanation:

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