Answer:
The required adjusting entry to record estimated bad debts expense is as follows:
Debit Bad Debts Accounts with $39,960
Credit Allowance for Doubtful Accounts with $39,960
Being the adjustment to bring the Allowance for Doubtful Accounts up a new credit balance of $43,625.
Explanation:
The Allowance for Doubtful Accounts had a credit balance of $3,665. Since management had estimated that $43,625 of the Accounts Receivable balance would be uncollectible, this means that the difference $39,960 ($43,625 - $3,665) would be the adjusting amount to bring the balance up-to-date.
Remember that the Allowance for Doubtful Accounts is a contra account to the Accounts Receivable. It is used to reduce the balance of the Accounts Receivable based on collectibility judgement or estimate which management makes out of experience. The balance in this account is, therefore d,educted from the Accounts Receivable in the Balance Sheet in order to obtain the net Accounts Receivable balance.
The account that expenses the increase in this account is the Bad Debts Expense Account, which is taken to the Income Statement to reduce the income.
Answer:
A
Explanation:
To calculate the adult population, we simply make use of the data available from the BLS.
We can simply make the calculations by adding the number of employed Adult Americans to the number of unemployed adult Americans.
We simply do not have any business with the number not in labor force because they are actually part of those that are employed but are not just in the labor force.
The adult population is thus:
143,929,000 + 11,460,000 =155,389,000
Answer:
$2000
Explanation:
CESA is a tax deferred account founded by the USA government to support educational expenses for children that are not more than 18 years of age .
CESA , an acronym for coverdell education savings accounts allows a couple who filed jointly with a modified adjusted income that is not more than $220,000 to contribute not more than $2000 per student for each year.
The contribution is tax free assuming it is less than the account holder's annual adjusted qualifies expenses
Answer:
b. country culture
Explanation:
These are options for the question
a. generational cohort characteristics.
b. country culture.
c. a red/blue marketing campaign.
d. the Walmart Effect.
e. regional culture.
b. country culture.
From the question we are informed about Late in the day on September 11, 2001, the day of the World Trade Center attacks, Americans purchased all the American flags Walmart stores had available, nationwide. In this case These purchases were indicative of country culture. Country Cultures are things that make one countries different from each other in term of cultural activities as well as cultural rituals these could be materials, belief as well as values
Answer:
Marginal utility of the additional units will turn negative
Explanation:
As total utility has reached a maximum level, adding additional units of the same product will generate the total utility to decrease thus, the marginal utility of this additional products is negative as they made the utility of the consumer to decrease.
The diminish return theory state that:
The units increase utility at a decreasing rate and then, they reach a maximum of utility afterwhihc, additional units do not generate utility, they decrease it
