Answer:
$6,574
Explanation:
Allowance for uncollectible accounts is a contra asset account and it has credit nature. It needs to be debited to decrease the balance and credited to increase the balance. Balance of this account is adjusted in the account receivable to report the net receivable balance in the balance sheet.
As per given data
Beginning allowance for uncollectible accounts balance = $216,000
Write off is the adjustment mad in this account and it needs to be debited in this account, this transaction will reduce the balance.
Adjusted Balance = $8,400 - 7,800 = $600
Account receivable balance = $216,000 + 1,007,800 - $978,000 = $245,800
Estimated allowance for uncollectible accounts balance = $245,800 x 3% = $7,374
As allowance for uncollectible accounts has already have balance of $600, Bad debt expense for the year is $6,574 ($7,374 - $800)
The correct answer is d). We have that government spending can also give way to products and services, just like private enterprises, thus there is no double-counting there. Services such as haircuts have their own value, which are separate from any other material products. Finally exports are also not counted twice; Raw materials though would be counted twice if we counted them for the GDP since their value is incorporated in the value of the final product. For example, we cannot count towards the GDP the value of rubber production in a country since then, if we counted the value of the tires too, we would count the value of the rubber in the tires twice (one time as rubber/ one time as part of the tire).
Answer:
Explanation:
Demand is the amount of a good or service consumers wants
| Consumer demand can change often; for many reasons
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Answer:
option (B) $640,000
Explanation:
Data provided:
Amount received = $960,000
Total duration of a season = 6 months
Duration from January 1, 2018 to April 2018 = 4 months
Therefore,
The Deferred revenue recognized = 
× 4 months
or
The Deferred revenue recognized = $160,000 × 4 months
or
The Deferred revenue recognized = $640,000
Hence,
The correct answer is option (B) $640,000
The answer is $32,716.13 i just took the test and got it right
