Answer:
Time-Share Estate
Explanation:
Definition:
A time-share estate is an illustration of a concept also known as fractional ownership. It is a structure that allows individuals to purchase the right of occupancy of a unit of real estate for a specific period.
Of course, a good example of why buyers will choose this type of real estate purchase is to get the use of a unit of housing that is not always in use all year round. For instance, time-sharing is popular with resorts, vacation homes and even with recreational vehicles.
It is important to know also that the time-sharing industry is mostly available within the United States and it is a multi-billion dollar industry, meaning the time-sharing concept is popular in the United States.
Different Types
Fixed Weeks or Floating Weeks Option - as the names suggest, owners are either allowed to pre-determine the specific period of the year and the number of weeks to make use of the estate or choose the floating weeks which leaves the occupant the choice to choose weeks within a given period say January-March, September-November etc.
Answer:
<em>Incomplete question is "2. What journal entry should Johnson record to recognize bad debt expense for 2021? 3. Assume Johnson made no other adjustment of the allowance for uncollectible accounts during 2021. Determine the amount of accounts receivable written off during 2021 4. If Johnson instead used the direct write-off method, what would bad debt expense be for 2021?"</em>
1. Gross accounts Receivable = Allowance Account balance at beginning / 10%
= $30,000 / 10%
= $300,000
2. Year Account Title Debit Credit
2021 Bad debt expense $105,000
($500,000*10% + $55,000)
To Allowance for Doubtful Accounts $105,000
3. Accounts receivable written off = Beginning balance of Allowance Account - Ending Balance of Allowance account
= $30,000 - (- $50,000)
= $30,000 + $50,000
= $80,000
4. Bad debt expense for 2021 (direct write off method) = Amount written off = $80,000
A person can identify things that have given you trouble at work or in your personal life and look for ways to improve them by Innovation, knowledge and skills.
<h3>What is knowledge?</h3>
The idea of knowledge is one that connote the familiarity with some kind of information and theoretical views.
Knowledge is one that can be transferred from one person to another. By having the knowledge and skills, one can be able to handle issues that pertains to us in the right way and improve our lives.
Learn more about Innovation from
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