The statement that is true regarding competition is : D. Competition among sellers can help drive prices down.
in a competition, those sellers will fight to grab consumer's attention. One of the most effective way to do that is by lowering the price of their product
hope this helps
Answer:
Bawl with ABC bonds
The unrealized Gain/Loss reported in OCI of the 2023 Comprehensive Income statement is:
A Loss of $5,000
Explanation:
a) Data and Calculations:
Cost MV Unrealized Profit or (Loss)
December 31, 2021 $100,000 $ 91,000 $9,000 (Loss)
December 31, 2022 100,000 111,000 20,000
December 31, 2023 100,000 106,000 5,000 (Loss)
Available-for-sale Investment
Debit Credit
Dec 31 100,000
Loss 9,000
Dec 31 91,000
Profit 20,000
Dec 31 111,000
Loss 5,000
Dec 31 106,000
The Available-for-sale Investment will show a loss of $5,000 in the Other Comprehensive Income of the 2023 Comprehensive Income Statement based on the yearly adjustments to the account with losses and profits.
Answer:
b. HPI, ROS, and PFSH is the answer.
Answer: Bad Debt Expense 28,000 Allowance for Doubtful Accounts 28,000
Explanation:
Account receivable = 300,000
Percentage uncollectible = 10%
Current balance = 2000
Adjustment to allowance for uncollectible accounts is given by :
(Account receivable ×percentage uncollectible) - current balance
(300,000 × 10%) - 2000
(300,000 × 0.1) × 2000
30,000 - 2000 = 28,000
Therefore, adjustment should be :
bad debt expense debit 28,000
allowance for doubful account credit 28,000
