Answer:
The amount worth $6,000 will be debited to the account in Year 2
Explanation:
When the uncollectible accounts are written off, then the debit is created to the allowance and the credit to the accounts receivable. The starting balance in the allowance account is $90,000 and the ending balance is $100,000 and the expense of bad debt is $16,000
The write off is computed as:
Write off = Beginning balance + Bad debt expense - Ending balance
= $90,000 + $16,000 - $100,000
= $106,000 - $100,000
= $6,000
Therefore, the amount of $6,000 is to be write off in Year 2
Answer: The correct answer is d) NOMINAL
Explanation: Nominal interest rate is the interest rate before inflation is taken into account. Nominal interest rate can also be used to the advertised or stated interest rate on a loan, without taking into account any fees or compounding of interest.
It is the contractual interest rate charged by a lender or promised by the borrower.
Answer: B. How do people decide how much to save for the future, or whether they should borrow to spend beyond their current means?
Explanation:
It should be noted that microeconomics has to do with studying of economic agents like the individuals and the firms and how their decision affects the society while macroeconomics deals with the whole economy.
The microeconomic topics can have an impact on macroeconomic topics is option B "How do people decide how much to save for the future, or whether they should borrow to spend beyond their current means".
This is because savings and expenditure have an impact on the economy had whole and this can lead to certain decisions to be taken by the government.
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
As per §117(b)(2) a qualified scholarship that is solely used for qualified tuition and related expenses like fees, books and supplies that is necessary for such course in which admission is taken, related tuition fees and associated expenses are not taxable.
On the other side expenses on rooms and boarding are not qualified expenses so any amount spent on it is fully taxable. Another condition is that scholarship given should not be an exchange of service.
<em>You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly. </em>
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Answer:
Line
Explanation:.In these type of organizations, a supervisor exercises direct supervision over a subordinate. Also, authority comes from the top-most person in the organization to the lowest ranked worker in these organizations.
