Answer:
a. debit to bad Debt expense for $3,300
Explanation:
The Journal entry is shown below:-
Bad debt expenses Dr, $3,300
To Allowance for doubtful accounts $3,300
(Being bad debts expenses is recorded)
Therefore to record the bad debt for the period we simply debited the bad debt expenses as it increase the expenses and on the other hand we credited the allowance for doubtful accounts as decrease the assets.
So, the right answer is a. debit to bad Debt expense for $3,300 option.
Working Note:-
Bad debt expenses = Estimated uncollectible - Credit balance
= $4,500 - $1,200
= $3,300
Answer:
Increase in premium
Decrease in the risk premium
Explanation:
Premium can be defined as the rewards earned by investors who has decided to engage in new businesses in a risk free state while risk premium is defined as the excess reward earned above the free risk rate that is expected to earn in the course of investment.In order word , it is a form of compensation for the risk undertaken .
As economy starts expanding , one of the consequences is that the premium will increase while the development reduces related risks and risk premium reduces.
Answer:
The client is insolvent since the client's liabilities exceed the fair market value of the client's assets by $20,000
Explanation:
Answer:
See explaination and attachment
Explanation:
We can look at The project total time-cost relationship to be determined by adding up the direct cost and indirect cost values together. The optimum project duration can be determined as the project duration that results in the least project total cost.
To have a clearer understanding of the solution given please check attachment for the detailed step by step solution of the solution of the given problem.
Answer:
Wooden no. 2 pencils
- Perfectly competitive market because there are many buyers and suppliers of pencils. Also, wooden no. 2 pencils are basically identical no matter which brand you purchase.
Copper (hint: there are many sellers)
- Copper is considered a commodity which has many suppliers and consumers around the world, therefore, it is classified as a perfectly competitive market. No individual supplier, nor any individual consumer has enough market power to affect the price and supply of copper.
Local public utilities (ex. water, electricity)
- Monopolistic market because there are generally only one supplier of each type of public utilities, e.g. one water company per city.
Peanut butter
- Monopolistically competitive markets since there are many consumers and suppliers, but each supplier produces a slightly different product. Even though there are several peanut butter brands, no two brands offer the same peanut butter.
Lipstick
- Monopolistically competitive markets since there are many consumers and suppliers, but each supplier produces a slightly different product. Even though there are several lipstick brands, no two brands offer the same lipstick.
