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3 years ago

A record of the increases and decreases in a specific asset, liability, equity, revenue, or expense is a(n)________.

Business

1 answer:

ozzi3 years ago

7 0

Answer:

d. account This answer is correct

Explanation:

There are various types of accounts that are reported in the financial statements. The financial statement comprises of the income statement, balance sheet, statement of stockholder equity and the cash flow statement.

The recording of the increase in the specific asset, liability, revenue, expense, etc is called as an account

Just in net income, the revenue and expense account is reported. The asset, liability, stockholder equity which is reported in the balance sheet. The change in the values of the item is reported in the respective amount

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The Allowance for Bad Debts account has a credit balance of $ 5 comma 000$5,000 before the adjusting entry for bad debts expense

GaryK [48]

Answer:

62,200 allowance ending

Explanation:

allownce 5,000 credit

<u>Because the bad debt is calculate over the sales,</u> the bad debt expense is the result of that estimated, without considering the beginning balance of the allowance.

22% of net credit sales will be uncollectible:

260,000 x 22% = 57,200

<u>Now ending balance will be beginning + uncollectible for the period</u>

5,000 beginning

57,200 uncollectible for the period

62,200 allowance ending

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3 years ago

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Foreign companies that are listed on the New York Stock Exchange (NYSE) and following their domestic GAAP must report their inco

Arlecino [84]

The generally accepted accounting principles of the United States

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2 years ago

A study was done of all homicide convictions in the State of Florida between 1976 and 1980 in order to examine if the applicatio

saw5 [17]

Answer and Explanation:

This is an example of Simpson’s paradox

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3 years ago

You just made the last monthly payment on a 30 year mortgage -- the house is yours! In your joyous moment, you calculate how muc

makkiz [27]

Answer:

$112,807

Explanation:

To calculate the amount of money you borrowed, you have to use the formula to calculate the present value:

PV=FV/(1+r)^n

PV= pressent value

FV= future value= 647,514

r= rate= 6%

n= number of periods of time= 30

PV=647,514/(1+0.06)^30

PV=647,514/(1.06)^30

PV=647,514/5.74

PV=112,807

According to this, you originally borrowed $112,807 for this house.

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3 years ago

Some economists advocate a ____________ on the consumption of such products as gasoline, liquor, cigarettes, and even soda pop,

Eduardwww [97]

Answer:

The correct answer is Sin tax.

Explanation:

A sin tax is a state-sponsored tax that is added to products or services that are considered vices, such as alcohol, tobacco and gambling. These types of taxes are collected by governments to deter individuals from participating in such activities without making the use of the products illegal. These taxes also constitute a source of revenue for the government.

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3 years ago