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solniwko [45]
3 years ago
15

At the beginning of the year, the balance in Allowance for Doubtful Accounts is a credit of $760. During the year, previously wr

itten off accounts of $120 are reinstated and accounts totaling $740 are written off as uncollectible. The end-of-year balance (before adjustment) in Allowance for Doubtful Accounts should be
A. $760.
B. $120.
C. $140.
D. $740.
Business
1 answer:
Tom [10]3 years ago
5 0

Answer:

Given:

Allowance for Doubtful Accounts is a credit of $760

Written off accounts = $120

Accounts totaling = $740

The end-of-year balance (before adjustment) in Allowance for Doubtful Accounts will be computed as:

<em>Allowance for Doubtful Accounts - Accounts totaling + Written off accounts</em>

<em>⇒ $760 - $740 + $120</em>

<em>⇒ $140</em>

<u><em /></u>

<u><em>therefore, the correct option is (c).</em></u>

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6 0
2 years ago
How and Why Can Complexity Theory be Applied by Managers to Implement Strategic Change?
REY [17]

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Explanation:

6 0
2 years ago
Suppose gold​ (G) and silver​ (S) are substitutes for each other because both serve as hedges against inflation. Suppose also th
maksim [4K]

Answer:

a) Gold = $1,380; Silver = $1,020

b) Gold = $1,300; Silver = $980

Explanation:

a) At first, with Qg = 60 and Qs = 270, the equilibrium prices for gold and silver are found by solving the following linear system:

P_g = 930-60 +0.50 P_s\\P_s = 600 - 270 + 0.50P_g\\\\-P_s=1740 -2P_g\\P_s = 330+ 0.50P_g\\P_g = 1,380\\P_s = 1,020

Equilibrium price of gold is $1,380 and the price of silver is $1,020.

b) If the supply of gold increases to 120, since the goods are substitutes, there will be an increase in overall supply and the equilibrium price of gold and silver will decrease as follows:

P_g = 930-120 +0.50 P_s\\P_s = 600 - 270 + 0.50P_g\\\\-P_s=1620 -2P_g\\P_s = 330+ 0.50P_g\\P_g = 1,300\\P_s = 980

Equilibrium price of gold is $1,300 and the price of silver is $980.

8 0
3 years ago
What is authorize share​
kap26 [50]

Answer:

Explanation:

Authorized shares are the number of shares that a corporation is legally allowed to issue, while outstanding shares have already been issued. Thus, the number of outstanding shares is always equal to or less than the number of authorized shares.

3 0
3 years ago
Read 2 more answers
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