Answer:
Wei company General Journal
Feb 01
Dr Allowance for doubtful accounts $9,200
Cr Accounts receivable—Oakley Co. $2,100
Cr Accounts receivable—Brookes Co. $7,100
June 05
Dr Accounts receivable—Oakley Co. $2,100
Cr Allowance for doubtful accounts $2,100
June 05
Dr Cash $2,100
Cr Accounts receivable—Oakley Co. $2,100
Explanation:
Feb 01
(To record write off accounts receivables)
June 05
(To record reinstatement accounts receivable)
June 05
(To record receipt from accounts receivable)
If the government raises the excise tax of the product then supply curve tends to shift leftwards. Therefore, The above statement is false.
<h3>What is Supply Curve?</h3>
The supply curve refers to the graphical representation of the supply and the prices of the commodity. It tells how the supply of the commodity affects the prices of the product.
The complete question is attached below.
According to the above situation, when government increases the taxes of the gallon of gasoline then the supply curve will shift leftwards as the supply decreases.
It will lead to the increment in the level of the prices as the demand of the product will fall. Therefore, the above statement is false.
Learn more about supply curve here:
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Answer:
Non profit organization
Explanation:
Non profit organizations do not cost anything and generally help the public in some way.
Answer:
$1,484,000
Explanation:
For calculation of operating cash flow first we need to compute the cash flow from assets which is shown below:-
Cash flow from assets = Cash flow to creditors + Cash flow to stockholders
= $20,000 + $75,000
= $95,000
Cash flow assets = OCF - Net capital spending - Change in net working capital
= $95,000 = OCF - $1,480,000 - (-$91,000)
= $95,000 = OCF - $1,480,000 + $91,000
= $95,000 = OCF - $1,389,000
OCF = $1,484,000
