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3 years ago

The general willingness of consumers to purchase a product at various prices is __________.

1 answer:

4 0

Demand.

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Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off an $1,600 account of a customer

umka21 [38]

Answer: Please see explanation for answers

Explanation:

1. Journal entry to record bad debt on January 31st

Date Account Titles and Explanation Debit Credit

Jan. 31st Allowance for doubtful account $1,600

Account receivables ( Customer C. Green) $1.600

2. Journal entry to record recovery of bad debt on March 9

A) To reinstate Amount previously written off

Date Account Titles and Explanation Debit Credit

March 9 Account receivables ( Customer C. Green) $1,100

Allowance for doubtful account $1,100

B) To record payment of account

Date Account Titles and Explanation Debit Credit

March 9 Cash $1,100

Account receivables( Customer C. Green) $1,100

3 0

2 years ago

Rina's Performance Pizza is a small restaurant in Dallas that sells gluten-free pizzas. Rina's very tiny kitchen has barely enou

ki77a [65]

Answer: variable input; fixed input

Explanation:

Based on the information given, in the short run, these workers are variable inputs, and the ovens are the fixed inputs.

Fixed inputs are the inputs that can't be easily changed that's increased or reduced in the short run while variable inputs can be increased or reduced easily.

Since Rina cannot change the number of ovens she uses in her production of pizzas in the short run, they're fixed input. The workers are variable input.

7 0

2 years ago

Which of the following is a tool used by organizations to measure the benefits of their sustainability efforts? A. Transparency

LekaFEV [45]

Answer:

b. Green customer consumption

Explanation:

6 0

3 years ago

During its first year of operations, Fall Wine Tour earned net credit sales of $311,000. Industry experience suggests that bad

pochemuha

Answer:

The computations are shown below:

Explanation:

The journal entry is as follows

1. Bad debt expense $9,330

To Allowance for doubtful debts $9,330

(Being the bad debt expense is recorded)

The computation is shown below:

= $311,000 × 3%

= $9,330

For recording this transaction, we debited the bad debt expense as it increases the expenses account while at the same time it reduces the account receivable so the allowance would be credited

2. And, the reporting of account receivable is shown below:

Accounts receivable $44,000

Less: Allowance for doubtful debts (9,330)

Net Accounts receivable 34,670

5 0

3 years ago

Under HIPAA, a "disclosure accounting" is required:

Arte-miy333 [17]

Answer:

B. For all human subjects research that uses PHI without an authorization from the data subject, except for limited data sets.

Explanation:

According to Health Insurance Portability and Accountability Act, HIPAA, Disclosure Accounting is a term that describes a form of the accounting process which includes revealing any incident that had an effect on financial statements.

However, there are certain instances under HIPPA, disclosure accounting is required, but considering the available option, the correct answer is: "For all human subjects research that uses PHI without an authorization from the data subject, except for limited data sets."

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3 years ago