Answer: <u><em>The adjusting entry at the end of the year will include a credit to Allowance for Doubtful Accounts in the amount of: $750</em></u>
Given:
Accounts receivable = $640
Allowance for Doubtful Accounts = $110
<em><u></u></em>
<em><u>Therefore, the correct option is (c).</u></em>
Option D
In the short-run, if there is a surplus in the market for a product, the rationing function of price can be expected to cause: a decrease in the market price of the product.
<h3><u>
Explanation:</u></h3>
When quantity provided surpasses quantity required, a surplus endures. If the value goes up, the amount of necessitated goes downward. If the price drops, the quantity required raises. Price ceilings limit a price from growing beyond a particular level.
When a price ceiling is fixed under the equilibrium price, the amount required will pass quantity fulfilled, and excess demand or deficits will result. Price floors block a price from dropping below a reliable level. When a price floor is fixed beyond the equilibrium price, the measure supplied will exceed the quantity needed, and excess stock or surpluses will happen.
Answer:
Book Value at end of year 6 = $100,000
Explanation:
An Asset is depreciated to salvage value therefore when depreciation is complete the book value equals salvage value or zero.
Salvage value is an estimated value of what the company expects to earn after using the asset maybe when selling off the asset.
Answer:
Rent is $2400
utilities other than cellphone is $625
Total home office expenses is $3025
Explanation:
firstly we need to calculate the percentage of how much in total does the office take in the apartment so we will say (300 square feet/1200 square feet) x 100
which is 25% so then to get the rental expense of the office we will say :
25%x$9600 = $2400 we say 25% which is office space in the apartment multiplied by the total apartment rental to get the office rent expense.
Then for the utilities we will say 25%x$2500 = $625 we multiply like this because the office uses 25% of all the apartment utilities .
thereafter the total home office expenses is the sum of both the rental office expense plus the the utilities other than telephone for the home office expense:
$625 + $2400 = $3025 then we get total home office expenses.
Answer:
$500
Explanation:
Damages refer to the financial loss suffered by a party to a breached contract. It occurs as a result of one party refusing to perform their obligation in the contract, causing injury and losses to the other.
Damages are the extra expense incurred by the offended party due to the breach of contract. The calculation of damages involves getting the difference between the market price and the contract price. For Diana, the damages will be the market price of $4.50, and the contact price $3.50. Because the books were 500, her damage would be 500 X 1 = $500.