Answer:
$4,260
Explanation:
The journal entry to record the adjustment to the allowance account includes a debit to Bad Debts Expense is given below:
Estimated Uncollectible Accounts is
= $104,000 × 5%
= $5,200
Now
Bad debt expense is
= Estimated Uncollectible accounts - credit balance in Allowance account
= $5,200 - $940
= $4,260
Similar to a stock split, a stock <u>dividend</u> also distributes additional shares of stock to existing stockholders on a pro rata basis at no cost to the stockholders.
A stock split is a decision made by the board of directors of a firm to issue more shares to present owners in order to increase the number of shares outstanding.
A stock split is a division of issued shares in a ratio determined by the company, whereas a stock dividend is a dividend paid in the form of extra shares. While in a stock split, already issued shares are divided in accordance with a predetermined ratio, a stock dividend gives stockholders extra shares.
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Answer: individuals and corporations.
Explanation: A legal person refers to a human or non - human entity. It is any organisation, individual or other entity that is subject to obligations and who has legal rights. Any legal person can enter into contracts, own property, or be sued. This means that the 4th and 5th amendments apply to all parties under the definition of a legal person.
Answer:
The correct answer is "the sum of all monetary transactions involving final goods and services that occur in the economy in a year"
Explanation:
The Gross Domestic Product is divided into nominal GDP and the real GDP.
The Nominal GDP is the sum of all monetary transactions involving final goods and services that occur in the economy in a year.
The Real GDP is the sum of all monetary transactions involving final goods and services that occur in the economy in a year, but adjusted to the inflation. The real DGP can consider changes in price level and can present a more accurate figure of economic growth.