Answer:
d. All of these are major characteristics of a plant asset.
Explanation:
The total assets comprise of current assets, fixed assets, and the intangible assets
The current assets include cash, stock, account receivable, etc
Fixed assets include plant & machinery, land, equipment, furniture & fittings, etc.
And, the intangible assets include patents, copyrights, goodwill, etc.
The fixed assets have the physical substance plus it is acquired for use only and it provides the services to the number of years.
please finThe debits and credits for four related entries for a sale of $15,000, terms 1/10, n/30, are presented in the following T accounts. EXPLANATIONS for these accounts are given below in an attachment
<h2>Law providing incomplete answer</h2>
Explanation:
1. Lack of competition
: This is not the right answer because no business culture will be set up in such a manner to decrease the level of competition. Because employees needs to be competitive for bringing success to the organization.
2. Law providing incomplete answers
: This is the right answer.
3. Stagnant or decreasing profit: Business always focuses on profit. So this
4. Lack of strong leadership
: Any business culture will only uplift the leadership to both promote individual and the organization.option stands invalid.
Answer:
d. .64.
Explanation:
Price elasticity of demand measure the responsiveness of demand against change in the price of given product. It measures the ratio of change in demand to change in price.
Change in demand = ( 2200 - 2000 ) / [ (2200+2000)/2 ] = 200 / 2100 = 0.0952
Change in price = ( 1.25 - 1.45 ) / [ (1.25+1.45)/2 ] = 0.2 / 1.35 = 0.148
Elasticity of Demand = Change in demand / change in price = 0.0952 / 0.148 = 0.643 = 0.64
Answer:
On February 1, a customer's account balance of $2,700 was deemed to be uncollectible.
The entry to be recorded on February 1 to record the write-off assuming the company uses the allowance method is:
Debit Allowance for Doubtful Accounts $2,700; credit Accounts Receivable $2,700.
Explanation:
Using the allowance method, every bad debt entry is first reflected in the Allowance for Doubtful Accounts before it is taken to the bad debt expense account.
The entries above reduce the Accounts Receivable account by the amount of the write-off and reduces the Allowance for Doubtful Accounts by the same amount. Any recovery of written off debt is also treated in the Allowance for Doubtful Accounts and the Accounts Receivable account in revised order. This method is unlike the direct write-off method. With the direct write-off method, the Accounts Receivable is credited with the amount of the write-off and the write-off is expensed in the Bad Debts Expense account directly.
