Answer:
c. $10,820.
Explanation:
The computation of the amount of the adjustment for uncollectible accounts is shown below
= Account receivable reported × given percentage + debit balance of allowance for uncollectible accounts
= $243,000 × 4% + $1,100
= $9,720 + $1,100
= $10,820
hence, the amount of the adjustment for uncollectible accounts is $10,820
Therefore the correct option is c
Answer:
B, sustainability
Explanation:
Sustainability can be defined as maintenance at a specific rate or level. From the question, it can be seen that Devon's influence in the company is very high.
For that reason, the company is using his connection to sustain the company's operations amongst other things.
False. Price ceilings, provided there are no other government policies in place, will cause deadweight loss. Diagram provided.
The formula for annual depreciation by means of the units-of-production method is:
(depreciable cost / estimated output) x the actual yearly output
Under the units of production method, the quantity of depreciation indicted to expense differs in direct proportion to the amount of asset usage. Therefore, a business may charge more depreciation in times when there is more asset consumption and less depreciation in times when there is a smaller amount of usage. It is the most precise method for indicting depreciation as this method relate thoroughly to the wear and tear on assets. Though, it also needs that someone should track asset usage which means that its use is commonly restricted to more luxurious assets. It needs estimation of the total usage over the life of the asset in order to come up with the amount of depreciation to identify in separate accounting period.
At the time of collection, if the amount is paid within the discount period, the following entry is recorded:
Cash (+A).......................xxx
Sales discount(+XR,-R,-SE)........xxx
R. Jones (Accounts Receivables)(-A)….xxx
If the account is paid in full before the end of the discount period, the customer can be eligible for a cash discount rate. The duration of the trade credit is known as the credit period, and up until the end of the credit term, no interest is applied to the outstanding balance.
You use it to illustrate how a company's cash flow is distributed equally throughout the year rather than arriving in full at the end. We would use discount period numbers of 1 for the first year, 2 for the second year, 3 for the third year, and so on in a DCF without the mid-year convention.
Learn more about discount period here
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