not being rude but how many question do you have how do you do that
i know the answer though
I think the answer is in the middle
Answer:
The correct answer is C)
Explanation:
A pledge in this context is a vow or a promise to make a donation or give something at a future date. It may be vocalized or communicated in writing.
The Financial Accounting Standards Board (FASB), sets out the criteria for recognizing a pledge or a promise as follows:
- Relevance— If the promise is important enough to make a difference in the users decisions, then it ought to be recognized
- Definitions—If the item satisfies the definition of a component of a financial statement, then it ought to be recognized;
- Dependability— When the pledge is based on a fact that can be recorded, verifiable, and neutral, then it can be recognized
- Measurability— if it allows for measurability, then it should be recognized
It is clearly stated that where the certainty or reliability of a promise or a vow is difficult that measure, it is better to decline from recognizing such a pledge.
Cheers!
Answer:
The bad debt expense which should be recorded in the income statement for the year 2019, amounts to $127,600
Explanation:
The bad debt expense which should be recorded in the income statement for the year 2019 is computed as:
= Net Credit Sales × Uncollectible credit sales for the year 2019
where
Net Credit Sales is $290,000
Uncollectible credit sales for the year 2019 is 44%
Putting the values in the above formula:
= $290,000 × 44%
= $127,600
