Allowance for doubtful accounts is classified as a(n) contra asset account and has a normal <u>credit </u>balance.
<h3>What is
contra asset?</h3>
In a general ledger, a contra account is used to lower the value of a linked account when the two are netted together. The natural balance of a contra account is the inverse of the related account. The contra account records a credit if the connected account's natural balance is a debit. As an illustration, accumulated depreciation serves as the contra account for a fixed asset.
An account used in a general ledger to lower the value of a connected account is called a contra account.
They can be used to report a decrease or write-down in a different contra account that nets to the current book value while maintaining the historical value in the main account.
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Answer:
$14 million
Explanation:
Operating working capital = Operating current assets - Operating current liabilities
Operating working capital = $20 million - $6 million
Operating working capital = $14 million
The total net operating capital that XYZ, Inc. has is $14 million
A business plan is a formal document that states the goals of the business as well as the intended process for reaching those goals. This provides a market analysis. This basically provides the investors an idea of how the company will make use of its money and conduct business.
Answer:
the dollar cost of the annual interest on the government's total debt assuming the interest rate and debt is $356 billion
Explanation:
Dollar cost of annual interest on total debt = Total debt for the year x Average interest rate
= $17.3 trillion x 2%
= $17,300 billion x 2%
= $346 billion
This value is closest to option (2).
Answer:internet businesses are often called Ecommerce businesses
Explanation:
