Answer:
Explanation:
The journal entry to record the bad debt expense is shown below:
Bad debt expense A/c Dr $11,181
To Allowance for doubtful debts $11,181
(Being bad debt expense is recorded)
The computation of the bad debt expense is shown below:
= (Accounts receivable × estimated percentage given
) - (credit balance of Allowance for Doubtful Accounts)
= ($206,300 × 7%) - ($3,260)
= $14,441 - $3,260
= $11,181
The correct answer is B, sole proprietorship.
A general partnerships is very similar to a proprietorship. One of the biggest detractors from both a partnership and a proprietorship is that the owners are personally responsible for the debts of the company.
Answer:
The correct answer is option C.
Explanation:
Microeconomics is the branch of economics that studies the behavior of individual economic agents such as a single firm or a single consumer. For instance, it deals with variables such as demand for a single consumer or a supply from a single firm.
Macroeconomics is that branch of economics that studies the entire economy as a whole. It deals with variables such as inflation, unemployment rate, etc.
Answer: 95000 shares
Explanation:
The total shares that are outstanding will be calculated as the difference between the total shares issued and the treasury Share purchased.
The number of shares issued will be calculated as:
= 50000/0.50
= 100000 Shares
Therefore, the total shares that are outstanding will be:
= 100000 shares - 5000 shares
= 95000 shares
