Answer:
the amount of its stockholders' equity is $30,000
Explanation:
From The Accounting Equation, we know that :
Assets - Liability = Equity
Therefore,
Equity = $71,000 - $44,000
= $30,000
Answer:
B
Explanation:
Outsiders who were once employees
Because they have the inside information. And if your up to any tricks, they'll know! And you'll basically be at their liberty.
Answer:
The correct answer is letter "B" and "D": As we prepared our presentation for the KLM proposal, Jim revised the PowerPoint, Linda double checked the numbers, and I created a handout, As receptionist, his duties include answering the phone, forwarding calls, and taking messages. Below the lobby, on the first floor, and off to the left, you will find a check-in desk.
Explanation:
Parallel structure refers is a technique used in writing to list different items or actions using the same criteria. In other words, if the items listed are actions, all the verbs must be in the same time and person. For instance:
<em>Marcus was </em><u><em>chatting</em></u><em>, </em><u><em>listening</em></u><em> to music, and </em><u><em>doing</em></u><em> his homework at the same time.
</em>
<em />
All the verbs above are in the past continuous tense and second person. Therefore, in the question, the sentences that represent parallel structure are:
- <em>As we </em><u><em>prepared</em></u><em> our presentation for the KLM proposal, Jim </em><u><em>revised</em></u><em> the PowerPoint, Linda </em><u><em>double-checked</em></u><em> the numbers, and I </em><u><em>created</em></u><em> a handout.
</em>
- <em>As a receptionist, his duties include </em><u><em>answering</em></u><em> the phone, </em><u><em>forwarding</em></u><em> calls, and </em><u><em>taking</em></u><em> messages. </em><u><em>Below the lobby</em></u><em>, </em><u><em>on the first floor</em></u><em>, and </em><u><em>off to the left</em></u><em>, you will find a check-in desk.</em>
Options:A. LCM is an example of a company choosing the accounting method that will be least likely to overstate assets and income.
B.Under the LCM basis, market does not apply because assets are always recorded and maintained at cost.
C.The LCM basis uses current replacement cost because a decline in this cost usually leads to a decline in the selling price of the inventory item.
D.LCM is applied after one of the cost flow assumptions has been applied.
Answer:B.Under the LCM basis, market does not apply because assets are always recorded and maintained at cost.
Explanation: Lower cost of market(LCM) is a tenet of the Generally accepted accounting principles (GAAP). LCM(lower cost of.market) it is term used in the field of accounting to describe the cost for a given inventory based on the cost of its purchase as at the time it was purchased.
A company can make use of lower cost of market when trying to avoid overstating its cost and revenue,lower cost of market also considers that there is possibility of price changes when valuing an inventory.
Answer:
<u>Calculation of Estimated uncollectible account</u>
Value % Uncollectible Amount uncollectible
$344,000 20% $68800
$43,000 23% $9890
$34,400 26% $8944
$25,800 30% $7740
$447,200 $95,374
1. Balance of allowance for uncollectible accounts on 12/31/2021 is $95,374
2. Journal entry for adjusting the allowance for uncollectible account is
Date Account Title and Explanation Debit Credit
Bad debt expenses $66,074
Allowance for uncollectible amount $66,074
($95,374 - $29,300)
(To record the adjusting allowance for uncollectible account)
3. Net account receivable balance on 12/31/2021 is:
Accounts receivables $447,200
Less: Allowance for uncollectible account <u>$66,074</u>
Net Account Receivables <u>$381,126</u>