Answer:
Option (d) is correct.
Explanation:
Given that,
Beginning common stock = $98,300
Common stock sold = $25,700
Beginning balance of retained earnings = ($42,100)
Net Income = $21,100
Dividends = $7,000
Ending balance of common stock:
= Beginning common stock + Common stock sold
= $98,300 + $25,700
= $124,000
Ending balance of retained earnings:
= Beginning balance + Net Income - Dividends
= ($42,100) + $21,100 - $7,000
= $28,000 debit
Ending balance of total stockholder's equity account:
= Ending balance of common stock + Ending balance of retained earnings
= $124,000 - $28,000
= $96,000
Answer:
the net account receivable is d. $93,000
Explanation:
The computation of the net account receivable is shown below:
= (Account receivable - written off amount) - (Allowance for doubtful accounts - written off amount)
= ($110,000 - $1,700) - ($17,000 - $1,700)
= $108,300 - $15,300
= $93,000
Hence, the net account receivable is $93,000
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Answer:
D. $12,000
Explanation:
Allowance for Doubtful accounts = Credit sales * Rate
Allowance for Doubtful accounts = $200,000 * 6%
Allowance for Doubtful accounts = $12,000
Allowance for doubtful account
Particulars Particulars
Balance brought forward $9,000 Bad debts $12,000
Balance carried forward $3,000
Total $12,000 Total $12,000
Therefore, the amount to be debited to Bad debts and credited to Allowance for Doubtful accounts is $12,000.
Answer:
Excess demand
Explanation:
The equilibrium price is the price at which demand equals supply.
If price is below equilibrium price, it means the price is lesser than the equilibrium price, therefore the quantity demanded would increase.
According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
If price is below equilibrium price, the quantity supplied would fall.
I hope my answer helps you.
