Answer:
The adjusting entry at the end of the year will include a credit to allowance for doubtful accounts in the amount of $910.
Explanation:
Allowance for Doubtful Accounts balance should be Credit balance, Since we have $120 debit balance and want to create $790 Allowance for Doubtful Accounts credit balance we have to credit Allowance for Doubtful Accounts by ($790 + $120 = $910) to get Allowance for Doubtful Accounts $790 Credit balance.
Therefore, The adjusting entry at the end of the year will include a credit to allowance for doubtful accounts in the amount of $910.
Answer:
OT
Explanation:
BECAUSE I AM SMART AND BECAUSE I TOOK THAT SAME CLASS
When using horizontal differentiation, a firm divides itself into sub units based on function, type of business, or Geographic area
Horizontal Differentiation :
Horizontal differentiation refers to distinctions in products that cannot be easily evaluated in terms of quality. This stands in contrast to vertical differentiation, where the distinctions between products are objectively measurable and are based in the products' respective level of quality. Horizontally differentiated products vary only marginally, as it's more efficient for producers to try to capture as many new consumers as possible with minimal additional costs. While horizontally differentiated products tend to command similar prices at equilibrium, the lack of relationship to quality does not necessarily imply that they cost the same -- two products may be virtually identical in all considerations except for color or flavor and still be offered at totally different prices.
What is meant by geographical area?
Geographical Area means an area covering all or part of the territory of a Member State or extending to all or part of the territory of other Member States.
An area of land that can be considered as a unit for the purposes of some geographical classification.
Learn more about Horizontal differentiation :
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Answer:
The correct answer is option (a).
Explanation:
According to the scenario, computation of the given data are as follows:
Allowance method shows that, if account is written off, then Accounts receivable account gets credited and Allowance accounts gets debited.
Here, both accounts are or balance sheet items.
So, it will not affect any expenses account.
Answer:
(C) debit to Foreign-Currency Transaction Loss-$1040
Explanation:
Foreign currency related Financial assets and financial liabilities are usually revalued with any difference as a result of the exchange rates posted as a gain or loss in the income statement.
On transaction date, cost of assets
= 520000 * $0.034
On payment date, the amount paid
= 520000 * $0.036
The amount paid is higher than the liability recorded before hence the difference is recognized as a loss on foreign exchange.
= 520000 * $0.036 - 520000 * $0.034
= $1040
