A machine would cost $142,000 and the depreciation of $98,000
Answer:Worthy journal $
Date
March 14, 2022
Bad debt Dr 2600
Receivable Cr 2600
Narration. Record of receivables written off to income account on account becoming unrecoverable.
Explanation:
The direct method of written off bad debts do not make provision for estimate of receivables that are likely to go bad in which the estimate is recognised as debit to income statement and the corresponding credit entry is used to reduce the receivables, with adjustment been made at the year end for variances.
In the direct method the actual bad debts is debited in the income s statement and credited to the receivables accounts.
Answer:
D. Sole proprietorship.
Explanation:
We know it's definitely is a sole proprietorship because of 'unlimited personal liability' which is a key characteristic.
Selma's business is not a joint venture because she is the only person who invested and runs the business whereas a joint venture is created by two or more entities or 'shared ownership'
Nor is it a corporation for this is an 'organization' owned and manned by many people but is regarded as a single entity. Neither is her business an s corporation because that just the same as a corporation but just with different tax regulations.
Answer:
$13,800
Explanation:
Static budget report for the second quarter and for the year to date
PRODUCT LINE: BUDGET; ACTUAL; DIFFERENCE; REMARK
Guitar:The Edge 380,800 394,600
13,800 favorable
Production line = Guitar:The Edge
Budget =$380,800
Actual=394,600
Difference = 13,800
Remark : Favorable
