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You are watching: One of the weaknesses of the direct write-off method is that it
Answer summery from question 41 to question 44 Inquiry Answer 41 B 42 A 43 B 44 C Explanation (41) Matching primary requires a company to document revenue and also their prices in exact same period but in this technique we charge w/off amount as a negative debts ex…View the complete answer
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Transcribed photo text: 41. One of the weaknesses of the straight write-off approach is that it a understates accounts receivable on the balance sheet b. violates the matching principle . is also difficult to usage for many kind of providers d. is based on approximates 2.To document stimated uncollectble ecelvables using the allowance approach,the adjusting entry would certainly be a a. delittle to Bad Debs Expense and a credit to Allowance for Doubtful Accounts. b. debit to Accounts Receivable and also a credit to Allowance for Doubtful Accounts. e. delittle bit to Allowance for Doubtful Accounts and a crmodify to Accounts Receivable. d. delittle to Loss on Credit Sales and also a crmodify to Accounts Receivable 43. After the accounts are changed and closed at the end of the fiscal year, Accounts Accounts has a Receivable has actually a balance of $460,000 and Allowance for Doubtful balance of $30,000. What is the net realizable worth of the accounts receivable? a. $30,000 b. $430,000 e. $460,000 d. $490,000 44. Dalton Company uses the allowance approach to account for uncollectible receivables. Dalton has actually identified that the Irish Company account is uncollectible. To write-off this account, Dalton should delittle a. Bad Debt Expense and also credit Accounts Receivable b. Bad Debt Expense and also credit Allowance for Doubtful Accounts c. Allowance for Doubtful Accounts and crmodify Accounts Receivable d. Accounts receivable and also credit Allowance for Doubtful Accounts 4S. When making use of the allowance method to estimate uncollectible accounts receivable based on an evaluation of receivables reflects that $790 of accounts receivables are uncollectible. The Allowance for Doubtful Accounts has actually a delittle bit balance of $120. The adjusting enattempt at the end of the year will encompass a crmodify to Allowance for Doubtful Accounts in the amount of a. $120 b. $790 c. $670 d. $910 A firm supplies the allowance technique to account for uncollectible accounts receivables. When the firm writes off a specific customer's account receivable, 46. a. full current assets are decreased b. complete prices for the duration are increased c. full existing assets are diminished and also complete costs are increased d. tright here is no impact on total existing assets or total costs To record estimated uncollectible receivables making use of the allowance approach, the adjusting entry would be a 47.