Answer:
The amount worth $6,000 will be debited to the account in Year 2
Explanation:
When the uncollectible accounts are written off, then the debit is created to the allowance and the credit to the accounts receivable. The starting balance in the allowance account is $90,000 and the ending balance is $100,000 and the expense of bad debt is $16,000
The write off is computed as:
Write off = Beginning balance + Bad debt expense - Ending balance
= $90,000 + $16,000 - $100,000
= $106,000 - $100,000
= $6,000
Therefore, the amount of $6,000 is to be write off in Year 2
A. Their own, their own
Is the answer
Answer:
An apple, potato, and onion all taste the same if you eat them with your nose plugged
Explanation:
Answer:
$20,000 loss
Explanation:
Repurchase of bond = Repurchase price - Carrying value
Repurchase of bond = ($400,000*105%) - $400,000
Repurchase of bond = $420,000 - $400,000
Repurchase of bond = $20,000 loss
Thus, the loss on the repurchase of the bond is $20,000
Answer:
a. a good that is not counted in GDP.
Explanation:
Leisure is not counted in GDP if the leisure activity does not have a market value, and is not exchanged in the markeplace.
For example, going for a walk, or sitting at a park to read are leisure activities that are not considered economically productive, and therefore, are not counted in GDP.
