Answer:
Option D is correct one.
<u>Debit to Allowance for Doubtful Accounts of $11,920</u>
Explanation:
Allowance for doubtful accounts $11,920 Debit
Accounts Receivables $11,920 Credit
Answer:
The most suitable.answer is Expenses paid with petty cash are recorded when the fund is replenished.
Explanation:
Petty cash system is a system that intends to control.and record.minor cash transactions of a firm. It also acts as a controlling mechanism against fraud and other misconducts.
The petty cash is reimbursed at an amount that was spent by the firm in the given period. This reduces the cash waistage..
Answer:
Option d
Explanation:
Command economies also recognized as a planned economy have as their core tenet that national government administrators own or operate a business within a nation.
A command economy refers to the mechanism in which the government determines what products should be manufactured, how much should be manufactured and the value at which the products are offered for sale, rather than the free market.
Thus, from the above we can conclude that the correct option is D.
The accounting information of a privately held company is generally available to all of the following except for competitors.
Accounting is the procedure of organizing, analyzing, and communicating financial information basically used for decision-making. The main motive of accounting is to provide what is useful in the time of decision-making for future aspects.
Basically, Acessers to accounting information are divided into two groups: External and Internal. Here internal users refer to those who are within the organization such as managers and other employees associated with the organization, who can use the information for their day- to day decisions, whereas External users refer to those who are outside of the organization such as investors, financial analysts, loan officers, governmental auditors, agents, and an assortment of other stakeholders, who use that information to make a decision or to evaluate an entity's performance.
To know about Accounting information refer to the link
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Answer:
a. 550,000
Explanation:
The gain on the asset is calculated by the sales proceeds minus the original cost of the asset.
In this question the home' initial cost is $200,000 and it is sold on $750,000. In absence of any unusual or hardship circumstances, the direct gains is $550,000 ( $750,000 - $200,000) as all the closing costs are paid by the buyer, so, Barney ans Betty should include the whole gain of $550,000 in the gross income.
