Answer:
The answer is:
More accounts have been written off than had been estimated
Explanation:
Doubtful debt or bad debt is an expense. According to the rule of accounting, debit increases an expense while debit decreases an expense.
So the debit balance balance in allowance for doubtful accounts tells us that there is an increase in expense which means that more accounts(bad debt) have been written off.
So we can infer from the debit balance that more accounts have been written off than had been estimated
Answer:
higher than net income computed under variable costing when units produced are greater than units sold
Explanation:
Absorption costing and variable costing techniques are used to compute the accounting cost of various operation. The calculation procedures of both the techniques are different; that is why the results are different. The net income under absorption costing is higher because it takes into account the indirect expenses and indirect costs. Likewise, absorption costing technique also includes manufacturing or overhead cost.
Answer:
$35,000
Explanation:
According to accounting standard IFRS 16 Property, Plant and Equipment is initially recorded at its cost. Estimated market value and offer price will not be considered to record this transaction. Cost incurred for this equipment is as follow:
Cash payment = $15,000
Note payable = $20,000
Total Cost = $15,000 + $20,000 = $35,000
Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.
The statement "<span>Freight-in and purchase returns and allowance are not deducted from purchases to determine the net delivered cost of purchases. " is true </span>
Answer:
Aristotle argues that what differentiates human beings from other animals is the human reason.
Explanation:
"Good life" can be seen as the one in which a person understand and exercise their rational faculties. The word "good" can be used to show moral approval. Therefore, for someone to be called good, they must have possessed and practiced many important virtues and not pursuing their own pleasure all the time.
According to Aristotle, happiness consists in achieving all the goods like health, wealth, knowledge, friends etc throughout a lifetime. He sees happiness as the central purpose of human life.
Aristotle believes that the highest good is a solitary nucleus which all other goods are acted upon and this highest good is happiness.
