Answer:
$0
Explanation:
According to US GAAP the reduction in the value of the asset due to a decrease in the fair value. It means when fair value of the asset is reduced than the book value of the asset.
Amortized Cost / Book value = $50,000
Market Value = $53,000
Discounted Value = $51,000
There is no Impairment loss on this asset as the fair market value is more than the book value of the asset.
The amount that should be debited to Bad Debts Expense, assuming 3% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible is $1,913
<h3>What is bad debts expenses?</h3>
Bad debt are debts owned to a business which cannot be recovered. Here, the customer has chosen not to pay this amount.
Computation of amount to be debited to Bad Debts Expense:
= Accounts Receivable, debit balance of $97,800 * 3% of outstanding accounts receivable at the end of the current year
= $97,800 * 3%
= $2,934
Then,
= $2,934 - $1,021
= $1,913
Hence, the amount that should be debited to Bad Debts Expense, assuming 3% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible is $1,913
Learn more about bad debts expenses here : brainly.com/question/18568784
Answer:
The statement is true as well as correct
Explanation:
Agreement, under the terms of law is described as the mutual understanding or the meeting of the minds among two or more persons or parties regarding a reciprocal rights as well as duties in relation to the future performances.
And binding the agreement makes the enforceable contract to the parties, where they are bound to perform the duties. The agreement is usually evident when one party made an offer to another and the other party provide the acceptance to the same.
Answer:
Human Capital
Explanation:
A leader must be able to control a team (human capital), lead it, and push them to obtain the results needed.
Answer:
exists when a production or consumption of a product results in a coast of third party
