The thing that Eldrick bought is called: Tax certificate
A tax certificate is a document that given to purchasers whenever they're biying an fixed asset (such as building , land, or other type of property).
The purchaser will obtain the right of the taxation account for the specific property and the tpayment will be transferred to the purchaser in the future
Answer:
see below
Explanation:
A positive correlation signifies that an increase in one variable results in the other variable moving in the same direction. Because supply and price are positively correlated, a price increase will increases supply. The opposite is also true.
Suppliers are business people whose main objective is to make profits. Higher prices give higher margins. Suppliers make higher profits when prices are high. The possibility of making higher profits motivates suppliers to increase supplies to the market. On the other hand, low prices may result in losses. When prices are low, supplies will shy away from the market to avoid making losses.
Answer:
B. $9,957.
Explanation:
The computation is adjusted amount for Uncollectible account expense is shown below:
= The estimated total uncollectible accounts + debit balance of Allowance for uncollectible accounts
= $7,322 + $2,635
= $9,957
For computing the adjusted amount we added the estimated total uncollectible accounts and the debit balance of Allowance for uncollectible accounts
Answer:
The correct answer is (C)
Explanation:
They are the two crucial characteristics that are general used to make accounting data more useful to make long-term decisions. To be exact, faithful representation helps to attain the relevant data for the company and this quality enhances the reliability of financial data. Completeness, fairness and free of error these three characteristic are a part of faithful representation of data.
Answer and Explanation:
The journal entry is shown below;
Cash $656,600
Factoring charges (2% of $670,000) $13,400
To Trade Receivables $670,000
(Being recording these receivables)
Here cash and factory charges is debited as it increased the assets and expense while the trade receivable is credited as decreased the assets
