The answer is true. Economics is a system invented to supply a certain demand from a population. But the underlying central issue is will the resources last to supply that demand.
Answer:
T-accounts:
The ending balances of Accounts Receivable and Allowance for Uncollectible Accounts are:
Accounts Receivable = $75,000
and
Allowance for Uncollectible Accounts = $17,000
Explanation:
Accounts Receivable
Accounts Title Debit Credit
Balance $100,000
Service Revenue 697,000
Cash $714,000
Uncollectible written off $8,000
Balance $75,000
Allowance for Uncollectible Accounts
Accounts Title Debit Credit
Balance $14,000
Uncollectible written off $8,000
Uncollectible Expense 11,000
Balance 17,000
Answer:
$30,000 and yes
Explanation:
Data provided in the question
Tax rate = 30%
Worth of investment = $100,000
Tax credit worth = $40,000
Based on the above information, the value of X is
= Worth of investment × tax rate
= $100,000 × 30%
= $30,000
As the X value is $30,000 and the tax credit worth is $40,000 which is more than the tax save value so in this case the firm should rather have a tax credit worth $40,000 as it contains high amount than taxed value i.e $30,000
The answer is false a good financial plan requires an insurance plan
