The cost of estimated accounts receivable that will not be collected is referred to as expense.
Answers
The statement is incorrect. The cost of estimated accounts receivable that will not be collected is not referred to as an expense. Instead, it is recognized as a bad debt expense or an allowance for doubtful accounts.
In accounting, when a company extends credit to its customers and allows them to pay for goods or services at a later date, it creates accounts receivable. However, there is always a risk that some customers may not be able to pay their outstanding balances due to various reasons such as financial difficulties or bankruptcy. To account for this risk, companies estimate the portion of accounts receivable that they believe will not be collected and record it as a bad debt expense.
The bad debt expense serves as an allowance for doubtful accounts, reflecting the company's anticipation of uncollectible receivables. It is important for companies to recognize this expense in their financial statements to ensure that the accounts receivable balance is reported at its net realizable value, which is the amount the company reasonably expects to collect.
The recognition of bad debt expense follows the matching principle in accounting, which requires expenses to be recognized in the same period as the related revenue. Since the revenue was recognized when the goods or services were provided, the corresponding expense for potential uncollectible accounts should also be recognized in the same period.
The bad debt expense is typically determined based on historical data, industry averages, and the company's past experience with uncollectible accounts. It is recorded as an operating expense on the income statement, which reduces the company's net income and ultimately affects its profitability.
In summary, the cost of estimated accounts receivable that will not be collected is recognized as a bad debt expense or an allowance for doubtful accounts, and it is not referred to as an expense. It is important for companies to accurately estimate and account for this expense to ensure that their financial statements reflect the true value of their accounts receivable and provide a realistic picture of their financial position.
To know more about Revenue visit-
brainly.com/question/14293132
#SPJ11
Related Questions
29. The entry to record the flow of direct labor costs into production in a job order cost accounting system is: a. debit Factory Overhead, credit Work in Process b. debit Finished Goods, credit Wages Payable rk in Process, credit Wages Payable d. debit Factory Overhead, credit Wages Payable 30. If the amount of factory overhead cost incurred exceeds the amount applied, the factory overhead account will have a: a. debit balance and be underapplied b. credit balance and be underapplied c. credit balance and be overapplied d. debit balance and be overapplied 31. The recording of the factory labor incurred for general factory use would include a debit to: a. Factory Overhead Inhibero basso b. Wages Payable 80 29001 oldab c. Wages Expense d. Cost of Goods Sold 32. The recording of the jobs completed would include a debit to: a. Factory Overhead b. Finished Goods c. Work in Process d. Cost of Goods Sold 33. Pinhead Manufacturers Inc. has estimated total factory overhead costs of $95,000 and 10,000 direct labor hours for the current fiscal year. If job number 117 incurred 2,300 direct labor hours, the work in process account will be debited and factory overhead will be credited for: a. $21,850 b. $2,300 c. $95,000 d. cannot be determined 34. When job 711 was completed, direct materials totaled $4,000; direct labor, $5,600; and factory overhead, $2,400 respectively. Units produced totaled 1,000. Unit costs are: a. $12,000 b. $1,200
Answers
Entry to record the flow of direct labor b. $1,200. costs into production in a job order cost accounting system is: b. debit Work in Process.
Credit Wages Payable If the amount of factory overhead cost incurred exceeds the amount applied, the factory overhead account will have a: a. debit balance and be underapplied The recording of the factory labor incurred for general factory use would include a debit to a. Factory Overhead The recording of the jobs completed would include a debit to: , the work in process account will be labor costs debited and factory overhead will be credited for: a. $21,850 The unit cost for job 711, with direct materials totaling $4,000, direct labor totaling $5,600, and factory overhead totaling $2,400 for 1,000 units produced, is:
learn more about labor here:
https://brainly.com/question/30733090
#SPJ11
In the current external business environment as described in the text book, which of the following statements is true a. companies are more adversarial than ever before b. corporate culture defines success c. the business environment is static d. mergers are decling e. joint ventures are on the rise\\
Answers
Answer:
A. companies are more adversarial than ever before
The firm should not produce an output level beyond A. 4 units. B. 5 units. C. 6 units. D. 7 units.
Answers
D. 7 units of output due to the fact total income is maximized.
What stage of output will the company produce?To maximize profits, the association ought to set marginal income equal to marginal cost. Given the reality that this association is working in a aggressive market, the market price it faces is equal to marginal revenue.
In order to maximize profit, the association ought to produce where its marginal revenue and marginal fee are equal. The firm's marginal fee of production is $20 for every unit. When the association produces four units, its marginal income is $20. Thus, the firm produce 4 units of output.
The most beneficial output rule states that a business's profit is maximized when it produces a extent of output the place the marginal revenue equals the marginal value (MR = MC). If a enterprise needs to amplify its income by using increasing output (MR), that motion must equal the trade in complete value (MC).
Learn more about output level here:
https://brainly.com/question/28334479#SPJ4Which of the following is NOT one of the four components of the business process
Answers
Answer:
mark me as the brainliest plss
how
has covid 19 affect sickle cell with hospital financial
strain
Answers
The financial strain caused by the COVID-19 pandemic has had an impact on the management and treatment of sickle cell disease in hospitals.
Hospitals have faced resource constraints, including limited staff, equipment, and funding, which can affect the quality and accessibility of care for individuals with sickle cell disease. This may lead to challenges in providing timely and comprehensive treatment, monitoring, and support services for patients with sickle cell disease, potentially impacting their overall health outcomes. The financial strain on hospitals has highlighted the need for continued investment and support in healthcare systems to ensure the provision of adequate care for individuals with chronic conditions like sickle cell disease.
learn more about:- financial strain here
https://brainly.com/question/28270733
#SPJ11
Which persuasive appeal do you think is the most effective in advertising? Explain.
Answers
which of the following strategies is a nonengagement strategy? a. collaboration b. avoidance c. competition d. accommodation
Answers
(b) Avoidance is a non-engagement strategy.
The avoidance strategy it is a useful strategy for matters that are not sufficiently relevant, and therefore do not require the effort and time to bring two or more parties together to negotiate.
Negotiation occurs precisely by ignoring it, as opposed to what we call Compromising, where the emphasis is placed on the need for the parties to meet to discuss and reach an agreement.
In the attached image we can observe different styles of negotiation, we can find that Avoidance is viable when the subject of the negotiation does not represent a fundamental concern at the moment.
It is important to emphasize that this negotiation option should be used cleverly, as it can bring benefits, but it can also lead to high negative consequences.
Among the benefits, we can find that the strategy allows gaining more time to gather further information or prepare stronger negotiation arguments. It can also be beneficial to avoid losing the entire negotiation.
The disadvantage may be that, by deciding to ignore the negotiation, the opportunity to resume it in the future may be lost; it may damage the reputation, and it may even make the party look like it is not up to the negotiation.
To learn more about avoidance style, refer:
https://brainly.com/question/14478365
#SPJ4
career question will mark first answer brainliest
Answers
Answer:
B.
Explanation:
I hope that helps!!!!!!!!
A customer purchases stock for $40 per share and holds it for 1 year, selling it for $50 per share exactly 12 months after the date of purchase. Four quarterly qualifying dividends of $.50 were paid during the year. If the customer's tax bracket is 30%, what is the after-tax rate of return?
Answers
Answer:
24.75%
Explanation:
the customer will be taxed in two different rates:
long term capital gains = $50 - $40 = $10 per stock x (1 - 15%) = $8.50
interests are taxed as normal income = (4 x $0.50) x (1 - 30%) = $1.40
total after tax gains = $9.90
after tax rate of return = $9.90 / $40 = 0.2475 = 24.75%
It is recommended that no more than three different fonts be used when creating a power point presentation.
True or False
Answers
Define (a) sensitivity analysis, (b) scenario analysis, and (c) simulation analysis. If GE were considering two projects (one for $500 million to develop a satellite communications system and the other for$30,000 for a new truck), on which would the company be more likely to use a simulation analysis?
Answers
Given the large investment and complexity of the satellite communications system project, GE would be more likely to use a simulation analysis to test different scenarios and variables to help make informed decisions.
On the other hand, the investment in the new truck project is relatively small, and the decision may not require a sophisticated analysis technique like simulation analysis.
a) Sensitivity analysis is a technique used to identify the relationship between variables in a model and to measure the effect of changes in one or more variables on the outcome of the model. It involves analyzing how sensitive the results of a model are to changes in certain variables.
b) Scenario analysis involves analyzing how a particular model will perform under different possible scenarios. It typically involves creating different scenarios by adjusting key variables in a model and analyzing the resulting outcomes.
c) Simulation analysis involves creating a computer model to simulate a real-world situation and testing how different variables affect the outcome of the situation. It can involve creating multiple simulations to test different scenarios and analyzing the results.
Learn more about investment here:
https://brainly.com/question/15353704
#SPJ11
What are the three 3 elements of the profitability analysis?
Answers
The three 3 elements of the profitability analysis are:
1. Analyzing on sales and cost of goods sold (focus on gross profit),
2. Analyzing on the control of expenses (focus on net profit).
3. Assessing the return on assets and return on equity.
Enterprise resource planning (ERP) includes profitability analysis, which assists corporate executives in determining how to maximize profitability in relation to specific initiatives, plans, or products. It is the methodical analysis of corporate earnings obtained from the many income sources. On occasion, people make the mistaken assumption that profitability analysis always depends on profitability ratios. Profitability analysis, in fact, relies on both qualitative and quantitative analytics to provide management with a complete picture.
Business executives must first analysis the factors that contribute to their profitability in order to maximize profits. This makes the procedures and endeavors that generate income more efficient.
Learn more about Profit here:
https://brainly.com/question/1078746
#SPJ4
Apples are selling for .15 cents per apple. The amount you buy is 823 apples, and you decide to sell those apples for .75 cents per apple. What is the total revenue for selling these apples?
Answers
Answer:
123.45 cents
Explanation:
Revenue = price per unit x quantity sold
0.15 x 823 = 123.45
Wayland company has total liabilities of $65,000 and total equity of $130,000. it's debt-to-equty ratio is:______
Answers
Wayland company has total liabilities of $65,000 and total equity of $130,000. Its debt-to-equity ratio is 0.5. The debt-to-equity ratio can be calculated by dividing total liabilities by the total equity of the company.
The debt-to-equity (D/E) ratio is used to assess a company's financial leverage. The D/E ratio is an essential measurement in corporate finance. It is a measure of the degree to which a company finances its functions with debt rather than its own resources. The debt-to-equity ratio is a specific kind of gearing ratio. Contrary to the debt-assets ratio which uses total assets as the denominator, the D/E ratio takes total equity into the consideration. This ratio indicates how a company's capital system is tilted towards debt or equity financing.
Learn more about the debt-to-equity ratio:
https://brainly.com/question/25651634
#SPJ4
Brad, a manager at a new investment firm, is performing job evaluation. He selects 12 benchmark jobs in the firm and then ranks each of these jobs against compensable job factors such as physical effort, responsibility, skill, and nature of the working conditions. This ranking is based on job descriptions created during job analysis. Later, the management meets as a group and develops a consensus on the assigned values for each job. In the given scenario, which of the following systems or methods is Brad most likely using for job evaluation?
A) The point system
B) The classification system
C) The factor-comparison method
D) The market-basket analysis method
Answers
Answer:
C) The factor-comparison method
Explanation:
It is correct to say that the method for evaluating jobs that Brad is using in this scenario is the method of comparing factors, which consists of evaluating various factors of the job and not just the job itself. This method is advantageous due to the ease of application and classification of factors, such as those classified as compensable work factors such as physical effort, responsibility, skill and the nature of working conditions.
The objective of the factor comparison method is then to promote a remuneration corresponding to each value attributed to the job's working factors and thus to promote a fairer remuneration according to the position.
Central bank regulation of money supply and interest rates.
a) gross domestic product
b) inflation rate
c) labor force
d) business cycle
e) recession
f) monopoly
g) fiscal policy
h) monetary policy
i) commerce
j) price fixing
Answers
you have $5,000 to invest. you might need to use one-quarter of the money next month. which of the following would be the best investment for you?
Answers
Which completes the equation?
O + A + Consideration (+______) = K
Legal capability
Legal capacity
Legal corporations
Legal injunction
Answers
"Legal capacity" is the final term that completes the equation.
What is the full legal age?What a person is legally capable of doing depends on the rules and regulations of the legal system. It is a fiction with no underlying reality that every legal system uses to establish a relationship with its constituents.
What does the legal competence to contract mean?A party has the legal authority to enter into a contract if they have the capacity to do so. Capability also implies that a person must be legally competent. A person's ability is determined by two factors: whether they are of legal age to enter into contracts and if they are mentally able to do so.
To know more about Legal capacity visit:-
https://brainly.com/question/30160771
#SPJ1
distribution requirements planning helps to synchronize supply chain partners at the a. primary storage level. b. secondary delivery level. c. primary schedule level. d. master schedule level.
Answers
The main answer is d. master schedule level. Distribution Requirements Planning (DRP) helps to synchronize supply chain partners at the master schedule level.
This means that DRP assists in aligning the production and distribution plans of various partners in the supply chain. It involves coordinating the timing and quantity of inventory replenishment to meet customer demand while minimizing excess inventory and stockouts.
In more detail, DRP works by analyzing customer demand data, considering lead times, and coordinating with suppliers to ensure the right amount of inventory is available at the right time and in the right location. It helps in managing the flow of goods from suppliers to manufacturers, and from manufacturers to distributors or retailers.
By operating at the master schedule level, DRP allows supply chain partners to make informed decisions regarding production levels, order quantities, and delivery schedules. It promotes better collaboration and coordination among partners, leading to improved efficiency, reduced costs, and enhanced customer satisfaction.
Learn more about Distribution Requirements Planning here:
https://brainly.com/question/29847559
#SPJ11
how does inflation and deflation affect economic growth
Answers
Answer:
Inflation affects growth by changing the labor supply and demand, and thus reducing aggregate employment in the sector that is subject to increasing returns. The reduction in the level of employment will reduce the marginal productivity of capital.
If deflation is exacerbated, it can throw an economy into a deflationary spiral. This happens when price decreases lead to lower production levels, which, in turn, leads to lower wages, which leads to lower demand by businesses and consumers, which lead to further decreases in prices.
what is money market
Answers
Answer:
Money market consists of various financial institutions and dealers, who seek to borrow or loan securities.
Which is not a required part of an annual report of a publicly traded company?
(a)Statement of cash flows.
(b)Notes to the financial statements.
(c)Management discussion and analysis.
(d)All of these are required.
Answers
Option D) All of these are required in an annual report of a publicly traded company.
An annual report is a document that public companies provide to their shareholders, usually every year. It contains information about the company's financial performance, operations, and other important information.
The report is required by the Securities and Exchange Commission (SEC), which regulates publicly traded companies in the United States.
The annual report typically includes financial statements, such as the balance sheet, income statement, and statement of cash flows. It also includes notes to the financial statements that provide additional details about the financial performance of the company. In addition, the report usually includes a management discussion and analysis, which provides an overview of the company's operations and its outlook for the future.Know more about annual report here:
https://brainly.com/question/14425739
#SPJ11
Help me please ASAP.
Answers
your answer is D because i took the test a couple of days back
CAN YALL PROMISE ME U WILL BE NICE TO EVERYONE please and thx
Answers
Answer: yes
Explanation: because yes
Give an example comparing a perfect competition and a monopoly. Choose a company and discuss the market structure in which you think it operates. Give reasons for your answer.
Answers
Answer:
Perfect competition markets are only theoretical, they do not exist in reality, but some markets resemble them very closely, e.g. agricultural commodities:
thousands of farms that produce corn:the product is uniform (it is corn), there are several buyers (although not enough as they should be), information is not perfect, but it is available, and finally, entry barriers exist (farmland is expensive), but a lot of potential investors could overcome themGenerally, the price of agricultural commodities is based on the price set by the Chicago Mercantile Exchange on a daily basis. If one farmer doesn't want to sell their products to Cargill, they can sell them to ADM or some other buyer (even local buyers exist). No producer is large enough to set a price, therefore, they are all price takers. On the other hand, some buyers are large enough to influence the price.
On the other hand, we have any local utilities company that has a monopoly on providing water. If you do not like the utilities company, then unless you have a tanker truck, you are stuck with that company. Monopolies can set the price of their products or services, and that is why most natural monopolies are either government owned or their price is set by the government. As a consumer, your bargaining power against a monopoly is basically nonexistent, maybe if you are part of some type of consumer association you can reach the company, but generally not.
Answer:
(Answers may vary.)
Under perfect competition, businesses do not differentiate their products or services—they are homogenous, and the seller has no influence on the prices. The company sells as much as possible to satisfy market demand. Perfect information exists in perfect competition. That is, consumers know all the information about the products or services at every stage in the selling process.
In contrast, a monopoly market completely depends on the monopolist, who gets to set the price of the product. As the price maker, the monopolist is the only seller.
Here’s an example that illustrates how the two markets work. Sugar is sourced directly from the producer as an unbranded commodity. Everyone knows the price of sugar; there is no scope for negotiation, and the seller has no direct influence over the price of the product. If a business uses this product as the primary and only raw material to produce an innovative product, such as a new dessert product that no one else can produce, then that company becomes a monopoly. The company is in a position to set the price of the final product at its own discretion. Therefore, the nature of a product or service that a company offers determines the type of market structure in which it operates.
Telmex is a good example of a monopoly. It is the dominant telecommunications provider in Mexico, with a market share of over 80 percent (as of 2014). There is no scope for competition, unless the government or another agent forces Telmex to offer competitive pricing to other carriers who use Telmex’s network, as well as to Telmex customers who want to port to another carrier. Telmex also monopolizes other areas by cross-subsidizing its allied services such as IPTV, data hosting, and Internet access.
In 1972, the Mexican government bought the privately owned Telmex and turned it into a government monopoly. In 1991, the Mexican government sold all its stock, turning Telmex back into a private enterprise. Today, Telmex is a quasi-monopoly. There are other service providers in Mexico, such as Axtel, Megacable, Cablecom, Maxcom, and Alestra, but Telmex still enjoys the largest market share.
Explanation:PLATO
Nittany company uses a periodic inventory system. at the end of the annual accounting period, december 31 of the current year, the accounting records provided the following information for product 1:
units unit cost
inventory, december 31, prior year 1,950 $ 5
for the current year:
purchase, march 21 5,050 7
purchase, august 1 2,810 8
inventory, december 31, current year 4,070
required: compute ending inventory and cost of goods sold for the current year under fifo, lifo, and average cost inventory costing methods. (round "average cost per unit" to 2 decimal places and final answers to nearest whole dollar amount.)
Answers
The ending inventory for the current year under fifo, lifo when Nittany company uses a periodic inventory system will be 31300 and 24590 respectively.
How to calculate the ending inventory?Ending inventory simply means the value of goods that are available for sale as held by a company at the end of the accounting period.
The ending inventory under FIFO will be:
= (2810 × 8) + 7(4070 - 2810)
= 22480 + 7(1260)
= 22480 + 8820
= 31300
The ending inventory under LIFO will be:
= (1950 × 5) + 7(4070 - 1950)
= 9750 + 7(2120)
= 9750 + 14840
= 24590
Learn more about ending inventory on:
https://brainly.com/question/9175496
#SPJ1
When creating your résumé, you should _____. a. tailor it to the needs of the employer b. use industry and job related terms c. match it to the job description d. all of the above please select the best answer from the choices provided a b c d
Answers
The principle to follow for forming a marketable resume stands D. all of the above.
What is a resume?
A resume exists as a formal document that a job application forms to itemize their capabilities for a position. A resume is usually accompanied by a customized cover letter in which the applicant represents an interest in a characteristic job or company and draws attention to the most relevant specifics on the resume.
A resume exists as a CV (Curriculum Vitae) or a document produced and operated by an individual seeking employment or an appointment to present their:
BackgroundSkillsAccomplishments.To play a successful resume, one should:
Tailor it to the requirements of the employer.Usage industry and job-related terms.Compare it to the job description.The principle to follow for forming a marketable resume stands D. all of the above.
To learn more about resume refer to:
https://brainly.com/question/12923976
#SPJ4
Purchasing, sales, and merchandising are all related careers. What do they have
in common?
Answers
Explanation:
They all have a cycle, and have something to do with money. The merchandisers promote the items, people sell them , and purchasers buy them. Simple.
Answer:
i agree with her/him They all have a cycle, and have something to do with money. The merchandisers promote the items, people sell them , and purchasers buy them.
Explanation:
At a local grocery store, they sell a Visa card that has a prepaid amount on it. People can use this card anywhere, but it cannot be used for more than its prepaid value. Which type of card is this?
A.
a debit card
B.
a smart card
C.
a stored value card
D.
a retail credit card
Answers
The type of the card is a Retail Credit card. Hence the option (D) is the correct one.
What is the function of retail credit cards work?For retail credit cards, an image You can potentially obtain benefits at some retail establishments if you have a retail store credit card.
Decide if you want a card that restricts the retailers with which you may earn rewards or one that enables you to earn rewards for regular purchases. Benefits could consist of privileged access to funding, exclusive deals, discounts, and awards.
For instance, paying in whole for a motorcycle costing $10,000 would be excessive for a buyer.
Consumer will receive a $10,000 loan from retail credit institutions, which will be repaid with interest over a period of time in the form of monthly installments.
Hence the correct option is (D).
Learn more about Retail Credit Card , from :
brainly.com/question/30225683
#SPJ1
The management information system records day-to-day transactions, such as customer orders, bills, inventory levels, and production output.
a. true
b. false
Answers
It is false that "the management information system records day-to-day transactions, such as customer orders, bills, inventory levels, and production output ."
The transaction processing system (TPS) records day-to-day transactions, such as customer orders, bills, inventory levels, and production output.
The management information system is an information system used for decision-making, and for the coordination, control, analysis, and visualization of information in an organization.
The ultimate goal of the use of a management information system is to increase the value and profits of the business
The management information system helps companies identify their strengths and weaknesses due to the presence of revenue reports, employee performance records etc.,to gain a competitive advantage,and also with decision-making as well as reduce downtime for actionable items.
To learn more about The management information system here
https://brainly.com/question/23040788
#SPJ4