What are economic resources

On January 1, 2020, Harter Company had Accounts Receivable $139,000,

LuckyWell [14K]

<u>Solution and Explanation:</u>

<u>Date Particulars Post ref. Debit ($) Credit ($) </u>

5- Jan Accounts Receivable 20000

Sales revenue 20000

(To record the sales revenue)

5- Jan Notes Receivable 30000

Accounts receivable 30000

(To record the sales revenue)

18- Feb Notes receivable 8000

Sales revenue 8000

(To record the notes receivable and sales revenue)

20- April Cash 20400

Notes receivable 20000

Interest revenue 400

(To record the collection of notes)

30 april Cash 25000

Notes receivable 25000

(to record the collection of payment due)

25 May Notes receivable 6000

Accounts receivable 6000

( To record the note settlement of past due balance)

18- Aug Cash account 8360

Notes receivable 8000

Interest revenue 360

(To record the collection of notes payment)

25- Aug Accounts receivable 6135

Notes receivable 6000

Interest revenue 135

1-Sep Notes receivable 12000

Sales revenue 12000

(To record the note for amount due)

6 0

3 years ago

Darla owns a dress shop called Darla's Darling Dresses. During the past year, Darla sold some assets to upgrade her facility. Sh

Alexxx [7]

Answer:

Darla's amount realized on the sale is $800

Adjusted basis in the assets sold is $300

Producing a realized gain on the sale of $500

Explanation:

Amount realized = cash received + FMV of other property + buyer’s assumption of seller’s liabilities – seller’s expenses

Amount realized = 600 + 200 + 0 -0

= $800

Adjusted basis = initial basis – cost recovery deductions

Adjusted basis = 2500-2200 = $300

Gain or loss realized = amount realized – adjusted basis = 800-300

= $500

Therefore Darla's amount realized on the sale is $800 and the adjusted basis in the assets sold is $300, producing a realized gain on the sale of $500

8 0

3 years ago

Ruth executes a will in 2012 naming her nephew stan as sole beneficiary. in 2014, ruth executes another will, naming her niece t

Slav-nsk [51]

Stan and Tammy will share the estate in equal shares. You are able to have as many beneficiaries as you name, due to this and no change in the first will, both will be heirs to the estate. If Ruth were to have revoked the first will, then it would have left Tammy the sole beneficiary.

5 0

3 years ago

Generally it is thought that assignment of property rights leads to efficient use of resources. We noted two cases however (the

malfutka [58]

Answer:

Explanation:

This could be due a number of factors.

1 Externality effect

2 There could also be market failure, when property rights are not properly defined.

Externality is the effect of a third party on a property right, when all parties cannot come to an agreeable resolution on properties this could lead to inefficient use of land.

Also when the property rights are not put in place its difficult to come to a resolution that satisfies all parties.

4 0

3 years ago

A good cover letter should only address your ability to perform __________ skills that the employer is seeking.

aalyn [17]

Answer: b. three or four

Explanation:

Cover letters are meant to introduce the applicant for the role in a manner that would inspire the recruiter to want to take their applicant further in the recruitment process.

As such, the applicant should include some selling points to encourage this. One of said selling points is the possession of the skills that the role in question requires. A good number to possess/include in the letter is three to four of said skills because anything less might be too little and anything more might inspire distrust.

7 0

3 years ago