Answer:
Th etotal accounts written off during 11 months is $ 24,677
Explanation:
Computation of amounts written off
The movement in the allowance account is as per the following formula
Opening balance + Bad Debts Expense - Amounts written off = Ending balance
$ 13,177 + $ 21,273 - Amounts written off = $ 9,773
By solving the equation
Amounts written off = $ 13,177 + $ 21,273 - $ 9.773 = $ 24,677
In other words, the bad debts expense for the year plus the movement in the allowance balance represents the amounts written off
Answer:
the price of the product demanded
Answer:
Equipment account increases , and cash decreases with same amount
Explanation:
In the case of acquisition of a new equipment , the equipment account is debited (increase) while the cash account is credit with the same amount of money used for the purchase .
Purchase of an equipment is a balance sheet item , which means it is recorded in the balance sheet and not the income statement as it is not an expense.
The asset register must also be updated with the value of the newly acquired item
Pretty sure it is D. summarizes what has already occurred.
Definitely not A or B. And C is incorrect because this branch of accounting tracks passed transactions, and does not guarantee anything in the future. Hence D.