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KengaRu [80]
3 years ago
11

Suppose a stock market crash makes people feel poorer this decrease in wealth would induce people to desire __________. a decrea

sed consumption which shifts aggregate supply left b decreased consumption which shifts aggregate demand left c increased consumption which shifts aggregate supply right d increased consumption shifts demand right
Business
1 answer:
dusya [7]3 years ago
8 0
Hive me the answer key
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On December 31, 2017, Extreme Fitness has adjusted balances of $960,000 in Accounts Receivable and $87,000 in Allowance for Doub
Paladinen [302]

Answer:

What amount would the company report as its net accounts receivable on December 31, 2017?

Accounts Receivable $873,000

Prepare the journal entry to write off the accounts on January 2, 2018.

Allowance for Uncollectible Accounts  $ 26,000  

Accounts Receivable   $ 26,000

Assuming no other transactions occurred between December 31, 2017, and January 3, 2018, what amount would the company report as its net accounts receivable on January 3, 2018?

The same amount reported on December 31, 2017, if the company doesn't report any movement with the credit debtor there is nothing to do.

Has net accounts receivable changed from December 31, 2017?

The net accounts are the same there is not change in the balance because the write-off it's just a reclassification between the accounts, so the balance keep the same as before.

Explanation:

Accounts Receivable $873,000

The company reports as net accounts receivable the total amount on Accounts Receivable minus the total amount on the Allowance for Uncollectible Accounts  which represent the amount of credit that won't be possible to collect, the result it's the total value on net accounts receivable.  

Allowance for Uncollectible Accounts  $ 26,000  

Accounts Receivable   $ 26,000

As the company just recognized the accounts not collectible, at the moment of the write off it's just a reclasification between the accounts of Allowance for Uncollectible Accounts and Accounts Receivable.

At this moment it's a certainly that the accounts won't be collected, that is why the entry is recorded.

6 0
3 years ago
Safety is the responsibility of: <br> My supervisor<br> Everyone<br> My co-workers<br> Myself
ohaa [14]

Safety is the responsiblitiy of EVERYONE.

8 0
3 years ago
Read 2 more answers
Dallas Products is a division of a major corporation. The following data are for the most recent year of operations: Sales $ 37,
Mandarinka [93]

Answer:

See below

Explanation:

Given the above information, margin is computed as;

Margin = Net operating income / Sales

Sales = $37,880,000

Net operating income = $3,508,960

Then,

Margin = $3,508,960 / $37,880,000

Margin = 9.26%

Therefore, the division's margin used to compute ROI is closest to 9.26% approximately

7 0
3 years ago
An increase in aggregate demand has what outcome on price level and output with respect to long-run equilibrium?
DedPeter [7]

Answer:

real GDP will remain the same and price level will increase

Explanation:

4 0
3 years ago
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Terra Corporation purchased equipment with a 10-year useful life and zero residual value for $100,000. At the end of the fourth
vazorg [7]

Answer:

Assets increase by $10,000

Total stockholders' equity increases by $10,000

Explanation:

Since in the question, it is given that, the purchase value of equipment is $100,000 and the exchanged value is $110,000

So, the difference of $10,000 ($110,000 - $100,000) would reflect that the assets would increase by $10,000 and the total stockholders' equity is also increased by $10,000

The exchange value is a combination of $70,000 in trade allowance and $40,000 was paid in cash

3 0
3 years ago
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