All categories

4 years ago

Collection of accounts receivable that previously have been written off are credited to_____________.

Business

1 answer:

Black_prince [1.1K]4 years ago

6 0

Answer:

Collection of accounts receivable that previously have been written off are credited to Retained Earnings

Explanation:

Since the earning is later received it would be referred to as retained earnings or realized earnings

You might be interested in

What is the term for the idea that some goods will be overused and depleted if not regulated?

Solnce55 [7]

I think what you mean is exhausted?

8 0

3 years ago

Jessica makes photo frames. She spends $5 on the materials for each photo frame. She can create one photo frame in an hour. She

expeople1 [14]

Answer:

=$15

Explanation:

An economist will consider the cost of the photo as the materials costs plus the opportunity cost of labor for Jessica. For Jessica, the opportunity cost of making the photo frame is the amount she would have earned working at the coffee shop. Therefore, the $10 she would have earned at the coffee shop is the labor cost of producing one photo frame.

The total cost of making one photo frame would be $5 plus $10.

i,e. $5 + $10 = $15

Profit from the photo frame = selling price - cost price

=$30- $15

=$15

3 0

3 years ago

A chart of accounts is a list of all ledger accounts and an identification number for each. Identify the following accounts as e

Elenna [48]

Answer:

Asset is what a business owns anv control and its use generate future economic benefits.

Liability is a present obligation of an entity arising from past events, the settlement which will lead to an outflow of economic benefits.

Equity is the residual interest in an entity after its liabilities have been deducted from assets.

Revenue is income arising from the ordinary activities of a business

Expense arises in the morning course of activities

a. Advertising Expense - expense

b. Rent Revenue - revenue

c. Rent Receivable - asset

d. Patents - asset

e. Rent Payable - liability

f. Furniture - asset

g. Notes Payable - liability

h. Owner, Capital- equity

i. Utilities Expense - expense

Explanation:

a. Advertising Expense - expense

b. Rent Revenue - revenue

c. Rent Receivable - asset

d. Patents - asset

e. Rent Payable - liability

f. Furniture - asset

g. Notes Payable - liability

h. Owner, Capital- equity

i. Utilities Expense - expense

7 0

4 years ago

Frasquita acquired equipment from the manufacturer on 6/30/2021 and gave a noninterest-bearing note in exchange. Frasquita is ob

Sladkaya [172]

Answer:

$525,000

Explanation:

Calculation to determine what amount would it have recorded the equipment for on 6/30/2021

First step is to calculate the total interest for 10 months;

Based on the information given since the amount of $15,000 was the interest for 6 months in the year 2021 in which the note lasted for 10 months the total interest will be:

Total Interest = 10months/6months x $15,000 Total Interest=$25,000

Now let calculate 6/30/2021 Equipment

6/30/2021 Equipment=$550,000-$25,000

6/30/2021 Equipment=$525,000

Therefore what amount would it have recorded the equipment for on 6/30/2021 is $525,000

3 0

3 years ago

A mass of warm, moist air rises through the atmosphere. Then clouds form in the air mass as its temperature decreases. How does

KonstantinChe [14]

The difference in humidity is what causes the clouds to form disperse and to rain down.

Explanation:

When there is more humidity it means that there are more water droplets in the air.

This means that these water droplets can join with small particles in the air and form clouds around themselves.

These clouds go up in the air and get cooled down and condense so they then become clouds but they also become heavy because they are cold.

Now that they are heavy they begin to come down and the difference of humidity down below makes it warmer and then the clouds fall with the rain and the process begins again.

8 0

4 years ago