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Arada [10]
2 years ago
9

An accounting report that shows the changes in capital during the accounting period is a/an A. balance sheet. B. income statemen

t. C. statement of owner’s equity. D. All of the above
Business
2 answers:
saw5 [17]2 years ago
4 0
D would be the answer
jeka942 years ago
4 0
The correct answer is C. Statement of owner's equity.
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On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $76,000
trapecia [35]

Answer:

The effect the entry to recognize the uncollectible accounts expense for Year 2 will have on the elements of the financial statements are that it will reduce Accounts Receivable to $15,560 and the Allowance for Doubtful Accounts to $1,900 at the end of Year 2.

Explanation:

Credit sales estimated to be uncollectable = Credit sales * Estimated percentage uncollectable = $215,000 * 1% = $2,150

Ending account receivable = Beginning accounts receivable + Credit sales - Cash collected - Receivales written off as uncollectable - Credit sales estimated to be uncollectable = $76,000 + $215,000 - $271,100 - $2,100 - $2,150 = $15,560

Ending Allowance for Doubtful Accounts = Beginning Allowance for Doubtful Accounts - Allowance for Doubtful Accounts - Receivales written off as uncollectable = $4,000 - $2,100 = $1,900

Therefore, the effect the entry to recognize the uncollectible accounts expense for Year 2 will have on the elements of the financial statements are that it will reduce Accounts Receivable to $15,560 and the Allowance for Doubtful Accounts to $1,900 at the end of Year 2.

8 0
2 years ago
Which of the following statements is true? a. The word theory means same for both economists and laymen. b. Abstraction forms an
VladimirAG [237]

Answer:

B) Abstraction forms an important part of economic analysis.

Explanation:

Economic abstraction refers to ignoring certain factors while doing economic analysis. Some minor or even important economic details must be assumed when trying to analyze certain situations. That is why economists love to use ceteris paribus (everything else constant). Macroeconomic theory is impossible to prove in a scientific way, only certain microeconomic theories can be tested scientifically. In order to perform macroeconomic analysis, economists must simplify the real world, since economy is too complex and has too many factors that can alter any possible analysis. It is impossible to analyze a nation's economy as a whole since millions of people and businesses make billions of economic decisions very day.

3 0
3 years ago
When her roommate asked connie why she wasn't studying for a big test scheduled for the next day, connie replied, it doesn't mak
Pavel [41]
It concludes that Connie has an external locus of control. It is where an individual has the belief that the results of what is going to happen to them is base on external factors which are beyond to their control. It is likely depends on their success and failures with the given circumstances that they are to face. It could be seen above as Connie thinks that she's going to have a low grade, given even if she study or not because of the beliefs that she has acquired.
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3 years ago
This a type of unemployment that always exists and are relatively stable over time, including seasonal, structural, and friction
Darya [45]

<u>Answer: </u>Natural unemployment

<u>Explanation:</u>

Natural unemployment always exists even in a healthy economy this is because the people keep changing their jobs and they even leave the current job in search of the new ones. Natural unemployment also includes other types of unemployment such as seasonal, structural and frictional unemployment types.

Also some people might possess skills that are not necessary in the labor market. The natural unemployment is still in the economy even when there is technological advancement, industry expansion. New labor forces enter into market every year and people search jobs for better opportunities.

6 0
3 years ago
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A company has been selling roller skates that have faulty wheels. The wheels will not break or cause injury, but they also do no
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I believe its a ethical dilemma.
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3 years ago
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