Business, 25.06.2021 22:00 JAYDENJONES0111

In the balance sheet at the end of its first year of operations, Dinty Inc. reported an allowance for uncollectible accounts of $82,000 During the year. Dinty wrote off $32,000 of accounts receivable they had attempted to collect and failed. Credit sales for the year were $2, 200,000, and cash collections from credit customers totaled $1, 950,000. What bed debt expense would Dinty report in its first-year income statement?
A. $50,000.
B. $12,000.
C. $114.000.
D. Can't be determined from the given information.
What accounts receivable balance would Dinty report in its first year-end balance sheet?.
A. $196,000.
B. $211000.
C. $230,000.
D. None of the above is correct
Dim's adjusting entry for bad debts at year-end, which of these would be included?
A. Debit to bed debt expense for SI 14.000
B. Credit to allowance for uncollectible accounts for $82,000
C. Debit to accounts receivable for $32,000
D. All of the above are correct.

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 18:20

Which of the following accurately describes a situation in which consumers have elastic demand? a. a restaurant starts using margarine instead of butter because butter becomes more expensive. b. consumers boycott a restaurant because the waiters aren't paid minimum wage. c. a company starts using sugar instead of corn syrup because its revenues are up. d. people give up eating pasta and bread because they want to lose weight. 2b2t

Answers: 1

Answer

Business, 22.06.2019 02:00

Kenney co. uses process costing to account for the production of canned energy drinks. direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. equivalent units have been calculated to be 19,200 units for materials and 16,000 units for conversion costs. beginning inventory consisted of $11,200 in materials and $6,400 in conversion costs. april costs were $57,600 for materials and $64,000 for conversion costs. ending inventory still in process was 6,400 units (100% complete for materials, 50% for conversion). the total cost per unit using the weighted average method would be closest to:

Answers: 2

Answer

Business, 22.06.2019 12:40

Which of the following tasks would be a line cook's main responsibility? oa. frying french fries ob. chopping onions oc. taking inventory of stocked dry goods od. paying invoices

Answers: 2

Answer

Business, 22.06.2019 16:00

Analyzing and computing accrued warranty liability and expense waymire company sells a motor that carries a 60-day unconditional warranty against product failure. from prior years' experience, waymire estimates that 2% of units sold each period will require repair at an average cost of $100 per unit. during the current period, waymire sold 69,000 units and repaired 1,000 units. (a) how much warranty expense must waymire report in its current period income statement? (b) what warranty liability related to current period sales will waymire report on its current period-end balance sheet? (hint: remember that some units were repaired in the current period.) (c) what analysis issues must we consider with respect to reported warranty liabilities?

Answers: 1

Answer

You know the right answer?

In the balance sheet at the end of its first year of operations, Dinty Inc. reported an allowance fo...

Questions