The question of who pays the greater amount of a commodity tax is determined by:

The effects of depreciation to the entire domestic economy

suter [353]

Answer:

Snsnnsns

Explanation:

Sans Yshhsnhhhshhnshhhjujusjuujejuujujijji

8 0

3 years ago

During the current year, sales on account were $306,673, collections on account were $290,750, write-offs of bad debts were $7,0

sweet-ann [11.9K]

Answer:

1-a. Complete the Accounts Receivable and Allowance for Doubtful Accounts T-accounts to determine the balance sheet values. Disregard income tax considerations.

Accounts Rec T-Account

$ 306.673 Debit

$ 290.750 Credit

$ 7.059 Credit

$ 8.864 Debit Balance

Allowance for Doubtful Accounts T-Account

$ 7.059 Debit

$ 4.775 Credit

$ 2.284 Debit Balance

1-b. Complete the amounts related to Accounts Receivable and Bad Debt Expense that would be reported on the income statement for the current year.

$ 4.775 Dr Bad Debt Expense

1-c. Complete the amounts related to Accounts Receivable and Bad Debt Expense that would be reported on the balance sheet for the current year.

$ 2.284 Dr (Debit) Allowance for Uncollectible Accounts

$ 8.864 Dr (Debit) Accounts Receivable

Explanation:

Initial Balance

Dr Accounts Receivable $ 306.673

Write-offs of bad debts

Cash $ 290.750

Cr Accounts Receivable $ 290.750

Write-offs of bad debts

Dr Allowance for Uncollectible Accounts $ 7.059

Cr Accounts Receivable $ 7.059

Bad debt expense adjustment

Dr Bad Debt Expense $ 4.775

Cr Allowance for Uncollectible Accounts $ 4.775

1-b. Complete the amounts related to Accounts Receivable and

Bad Debt Expense that would be reported on the INCOME STATEMENT for the current year

Dr Bad Debt Expense $ 4.775

1-c. Complete the amounts related to Accounts Receivable and

Bad Debt Expense that would be reported on the BALANCE SHEET for the current year.

Dr Allowance for Uncollectible Accounts $ 2.284

Dr Accounts Receivable $ 8.864

6 0

3 years ago

Under the percentage of completion method, if the actual costs are ____ the estimated costs, the taxpayer must pay interest on t

Sphinxa [80]

Answer:

The correct answer is Less than the estimated costs.

Explanation:

The percentage method completed is an accounting practice used to recognize income in long-term contracts.

When long-term projects (greater than one year) are undertaken, the costs and revenues associated with it are incurred throughout its life.

This accounting method, as its name suggests, allows the company to account for part of the associated income and expenses incurred as the project phases are completed. Thus, the percentage complete method is understood as a method of recognition of recognition of income and expenses that is applied continuously without having to defer income and expenses at the end of the project.

8 0

3 years ago

Suppose a farmer in Georgia begins to grow peaches. He uses $1,000,000 in savings to purchase land, he rents equipment for $9

11111nata11111 [884]

Answer: The farmer's economic profit is $2,75,000.

Explanation:

Cost Incurred for Growing peaches (Explicit Cost) :

Rents equipment = $90,000 a year

Paid Wages = $1,50,000

Total Explicit cost = $2,40,000

Total Revenue(TR) Earned:

TR = Number of baskets of peaches produced per year × selling price of each peaches

= 2,00,000 × $3.00

= $6,00,000

Opportunity Cost (Implicit Cost):

Interest rate on savings ( 5 %) = 5% of $1,000,000

= $50,000

Farmer earn as a shoe salesman = $35,000

Total implicit cost = $85,000

<u>Economic Profit:</u>

Economic Profit = Total Revenue - Implicit cost - Explicit cost

= $6,00,000 - $85000 - $2,40,000

= $2,75,000

3 0

3 years ago

A corporation seeks to minimize expenses by moving production and labor to periphery nations where labor costs are lower. Which

bija089 [108]

flexible accumulation BEST defines this mod

<h3>What is flexible accumulation?</h3>

In response to competition from newly industrializing and less developed countries, as well as market saturation and fragmentation within more economically developed countries, the use of innovative industrial technologies, adaptable inter-firm relations, variable organizational structures, and flexible consumption.

Flexible Accumulation involves ICT, an expanded service sector, and job insecurity; it requires employees to be adaptable to the needs of their employers. This enabled non-standardised products to be produced for smaller markets, encouraging consumer diversity, choice, and instability.

accumulation that is adaptable the increasingly adaptable profit-accumulation strategies employed by corporations in an era of globalization, made possible by innovative communication and transportation technologies Increased migration refers to the increased movement of people within and between countries. Development is uneven.

To know more about flexible accumulation follow the link:

brainly.com/question/25790358

#SPJ4

4 0

2 years ago