Answer:
$101,500
Explanation:
Net Sales $2,030,000
Allowance for uncollectible Accounts ($2,030,000*5%)=$101,500
The amount of uncollectible accounts to be reported in income statement shall be $101,500
Answer:
Open end
Explanation:
Open end otherwise known as mutual fund are those investments offered through fund companies which sells shares directly to investors. In an open end fund investment, there is no limit to the number of shares that can be offered therein. The shares traded are unlimited which means that shares can be issued in as much can be backed up with funds.
The prices for open end funds are fixed once daily which shows the performance of the investment for that day hence the only price at which investment shares can be bought for that day.
Answer:
Fair Value method, and only a portion of Ima's 2004 dividends represent earnings after Pal's acquisition.
Explanation:
The part of the dividend that reduce the carrying value of the investment can be said to be a liquidating dividend. Liquidating dividend is said to have occurred when the payment made by the investee is higher than the income that was earned in the course of the period in which the shares of the investee was owned by the investor.
On the other hand, the cost method treats liquidating dividends as spend or reduction in the investment account and treats normal dividend as income. Hence it is impossible for the firm to use equity method.
This is because dividend are seen as a reduction in investment account under the equity method. This means that dividends received cannot be taken as income in this method, hence C and D are wrong.
Answer:
Texting has replaced many types of communication
Answer:
3. the price of solar panels decreases and the quantity increases.
Explanation:
An increase in supplies results in reduced prices. As per the law of supply and demand, an increase in supply while holding the demand contact results in a decrease in price. Increase supply causes downward movements along the supply curve, pushing the prices lower. There will be many solar panels available in the market competing with for few buyers.
An increase in supplies means an increase in the quantities available in the markets. Buyers will have a large selection of solar panels to choose from.
