2. x company has the following accounting balances at the end of the year before adjustments: accounts receivable $ 50,000 allowance for uncollectible accounts (1,000) net sales 150,000 bad debts expense 0 the company estimates that 2% of net sales will be uncollectible. after the correct adjusting entry has been made, which of the following is correct about bad debts expense for the year and allowance for uncollectible accounts at the end of the year? multiple choice bad debts expense will be $1,000 on the income statement and allowance for uncollectible accounts will be $(2,000) on the balance sheet. bad debts expense will be $3,000 on the income statement and allowance for uncollectible accounts will be $(4,000) on the balance sheet. bad debts expense will be $2,000 on the income statement and allowance for uncollectible accounts will be $(3,000) on the balance sheet. bad debts expense will be $3,000 on the income statement and allowance for uncollectible accounts will be $(2,000) on the balance sheet.
Answers: 1
Business, 21.06.2019 12:30
Trinity trucking signs a contract with olsen oil to purchase all of the fuel for its fleet of trucks for the next year from olsen at a price of $3.00 per gallon. at the time trinity and olsen sign the contract, the market price for gasoline was $3.25 per gallon, and trinity had an expert report predicting that the price would rise to at least $4.25 per gallon in the upcoming six months. instead, the price dropped to $2.00 per gallon. may trinity rescind the contract with olsen due to its mistaken belief about the future of the price of gasoline?
Answers: 2
Business, 22.06.2019 02:00
Precision dyes is analyzing two machines to determine which one it should purchase. the company requires a rate of return of 15 percent and uses straight-line depreciation to a zero book value over the life of its equipment. ignore bonus depreciation. machine a has a cost of $462,000, annual aftertax cash outflows of $46,200, and a four-year life. machine b costs $898,000, has annual aftertax cash outflows of $16,500, and has a seven-year life. whichever machine is purchased will be replaced at the end of its useful life. which machine should the company purchase and how much less is that machine's eac as compared to the other machine's
Answers: 3
Business, 22.06.2019 09:30
What is the relationship among market segmentation, target markts, and consumer profiles?
Answers: 2
Business, 22.06.2019 20:00
River corp's total assets at the end of last year were $415,000 and its net income was $32,750. what was its return on total assets? a. 7.89%b. 8.29%c. 8.70%d. 9.14%e. 9.59%
Answers: 3
2. x company has the following accounting balances at the end of the year before adjustments: accou...
History, 31.12.2020 01:00
History, 31.12.2020 01:00
Mathematics, 31.12.2020 01:00
Computers and Technology, 31.12.2020 01:00
Mathematics, 31.12.2020 01:00
Social Studies, 31.12.2020 01:00
English, 31.12.2020 01:00
Physics, 31.12.2020 01:00
Mathematics, 31.12.2020 01:00
Social Studies, 31.12.2020 01:00
Arts, 31.12.2020 01:00
Mathematics, 31.12.2020 01:00