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Helen [10]
3 years ago
8

Solstice Company, which uses the direct write-off method, determines on October 1 that it cannot collect $70,000 of its accounts

receivable from its customer, P. Moore. On October 30, P. Moore unexpectedly pays his account in full to Solstice Company. Record Solstice’s entries for recovery of this bad debt.
Business
1 answer:
lukranit [14]3 years ago
8 0

Answer:

<u>Oct 1</u>

Dr Accounts receivable 70,000

Cr Bed debts expense 70,000

(Accounts receivable is an asset and when it increases, they are debited. When expenses increase, they are credited.)

<u>Oct 30</u>

Dr Cash 70,000

Cr Accounts receivable 70,000

(Cash is an asset and when it increases, it is debited. Accounts receivable is an asset and when it decreases, they are credited)

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Besides the u.s. dollar, what is the only major currency to feature bills all of the same size?
jolli1 [7]

Answer:

Canadian dollar - Bills are often differentiated by size for the visually impaired. Larger denominations in Australia, for instance, are both taller and wider with strong contrasting colors. Euros also follow this logic, while larger notes – like the €200 and €500 – feature tactile marks too. The U.S. and Canadian dollars are currently the only major currencies with same-size notes. The Canadian dollar, however, features tactile marks on the upper righthand corner of bills, and the notes are also different colors to aid the visually impaired. While most other countries are ahead of the U.S. in making their currencies more accessible for the visually impaired, that may soon change with a new proposed $10 bill that would be the first U.S. dollar to feature tactile markings.

8 0
2 years ago
Three individuals, Mary, Jack and Helen, make up the total demand for donuts per month in a particular market.
Paraphin [41]

The market demand curve would be 1000 - 0.125Q.

<h3>How to calculate the demand curve?</h3>

It should be noted that the market demand curve will be the sum of the individual demand curve.

The market demand curve will be calculated thus. Mary’s demand curve is 5P = 5000 – 1.25QM. Here, p = 1000 - 0.25QM

Jack’s demand curve for donuts is given by P = 1000 – 0.5QJ. Helen’s demand curve is given by QH = 2000 – 2P. This will be P = 1000 - 0.5QH.

The slope will be:

= 0.5 × 0.25

= 0.15

The demand function of Jack and Helen are the same. The demand curve will be 1000 - 0.125Q.

Learn more about demand on:

brainly.com/question/1245771

#SPJ1

5 0
2 years ago
The job of an ethics officer is to serve as a counselor for employees
quester [9]

True, an ethics officers' role is to act as a counsellor for employees as well as an investigator for the firm.

The Ethics Officer is the company's inner or internal control point for ethical and improper conduct, allegations, objections, and improprieties, as well as providing leadership and guidance on corporate governance problems.

Learn more:

brainly.com/question/18072443?referrer=searchResults

3 0
3 years ago
The ending retained earnings balance of the Taco Heaven restaurant chain increased by $2.6 million from the beginning of the yea
Vika [28.1K]

Answer: $4.1 million

Explanation:

From the question, we are informed that the ending retained earnings balance of the Taco Heaven restaurant chain increased by $2.6 million from the beginning of the year and that the company had declared a dividend of $1.5 million.

The net income earned during the year will be:

= $2.6 million + $1.5 million

= $4.1 million

5 0
3 years ago
hich of the following is NOT one of the six questions that comprise the task of evaluating a company's resources and competitive
Vadim26 [7]

Answer:

The correct answer is "What are the company's most profitable geographic market segments?"

Explanation:

In order to research on the companys' resource and competitive position, a researcher does not need to ask questions related to the geographic market segments.

Geographic market segments refer to the geographical spread of the market of a company.

I hope the answer is helpful.

Thanks for asking.

4 0
3 years ago
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