subject
Business, 21.03.2020 09:12 jenesis8

At the beginning of Year 3 Omega Company had a $52,000 balance in its accounts receivable account and a $1,400 balance in allowance for doubtful accounts. During Year 3, Omega experienced the following events.(1) Omega earned $220,000 of revenue on account.(2) Collected $230,000 cash from accounts receivable.(3) Wrote-off $1,000 of accounts receivable as uncollectible. Omega estimates uncollectible accounts to be 4% of receivables. Required:
1. Based on this information, the amount of uncollectible accounts expense shown on the Year 3 income statement is :a.) $1,240.b.) $2,040.c.) $1,000.d.) $1,640.

ansver
Answers: 2

Other questions on the subject: Business

image
Business, 21.06.2019 16:50, tony4561
New team of management has taken over. as a result, organizational changes from a country-club style leadership where everyone does whatever they want has changed to a more mechanistic, structured, top-down management style. what ethical issues should the employees consider and how should they go about addressing these?
Answers: 2
image
Business, 22.06.2019 08:30, justalikri
Most angel investors expect a return on investment of question options: 20% to 25% over 5 years. 15% to 20% over 5 years. 75% over 10 years. 100% over 5 years.
Answers: 1
image
Business, 22.06.2019 10:30, khenalilovespandas
Marketing1. suppose the average price for a new disposable cell phone is $20, and the total market potential for that product is $4 million. topco, inc. has a planned market share of 10 percent. how many phones does topco have the potential to sell in this market? 20,0002. use the data from question 3 to calculate topco, inc.'s planned market share in dollars. $400,0003. atlantic car rental charges $29.95 per day to rent a mid-size automobile. pacific car rental, atlantic's main competitor, just reduced prices on all its car rentals. in response, atlantic reduced its prices by 5 percent. now how much does it cost to rent a mid-size automobile from atlantic? $28.45
Answers: 1
image
Business, 22.06.2019 12:30, samreitz1147
howard, fine, & howard is an advertising agency. the firm uses an activity-based costing system to allocate overhead costs to its services. information about the firm's activity cost pool rates follows: stooge company was a client of howard, fine, & howard. recently, 7 administrative assistant hours, 3 new ad campaigns, and 8 meeting hours were incurred for the stooge company account. using the activity-based costing system, how much overhead cost would be allocated to the stooge company account?
Answers: 1
You know the right answer?
At the beginning of Year 3 Omega Company had a $52,000 balance in its accounts receivable account an...

Questions in other subjects:

Konu
English, 22.04.2020 03:27
Konu
Mathematics, 22.04.2020 03:27
Konu
Mathematics, 22.04.2020 03:27