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3 years ago

13

The National Security Agency gathers and analyzes meta-data such as numbers, e-mail addresses and locations from cell phones and

the Internet.
True
False

1 answer:

Elina [12.6K]3 years ago

3 0

False is the answer

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A company ages its accounts receivables to determine its end of period adjustment for bad debts. At the end of the current year,

kogti [31]

Answer:

The required adjusting entry to record estimated bad debts expense is as follows:

Debit Bad Debts Accounts with $39,960

Credit Allowance for Doubtful Accounts with $39,960

Being the adjustment to bring the Allowance for Doubtful Accounts up a new credit balance of $43,625.

Explanation:

The Allowance for Doubtful Accounts had a credit balance of $3,665. Since management had estimated that $43,625 of the Accounts Receivable balance would be uncollectible, this means that the difference $39,960 ($43,625 - $3,665) would be the adjusting amount to bring the balance up-to-date.

Remember that the Allowance for Doubtful Accounts is a contra account to the Accounts Receivable. It is used to reduce the balance of the Accounts Receivable based on collectibility judgement or estimate which management makes out of experience. The balance in this account is, therefore d,educted from the Accounts Receivable in the Balance Sheet in order to obtain the net Accounts Receivable balance.

The account that expenses the increase in this account is the Bad Debts Expense Account, which is taken to the Income Statement to reduce the income.

4 0

4 years ago

Amy and Mitchell share equally in the profits, losses, and capital of the accrual basis AM Products LLC. Amy is a managing membe

kvv77 [185]

Answer:

Amy's basis at beginning = $1,215,000

Amy's ending basis = $1,599,625

Explanation:

As per the data given in the question,

Amy's capital basis at beginning :

Beginning capital balance = $900,000

Amy's share in amount debt = $315,000

Amy's basis at beginning = $900,000+$315,000 = $1,215,000

Amy's ending basis :

Beginning capital balance = $900,000

Taxable income = $1,080,000 × 50% = $540,000

Interest income = $10,800 × 50% = $5,400

Net short term capital gain = ($27000 - $9000) × 50% = $9,000

Total = $1,454,400

Charitable contribution = $10,850 × 50% = $5,425

Cash distribution to Amy = $54,000

Total = $1,454,400 - $5,425 - $54,000 = $1,394,875

Amy's share of debt = $409,500 × 50% = $204,750

Amy's ending basis = $1,394,875 + $204,750 = $1,599,625

8 0

3 years ago

An age-appropriate skill is best defined as a skill that is appropriate to the student's

geniusboy [140]

Age age age age age.

8 0

3 years ago

You are required to spend the next year of your life in either in the past or the future. What year would you travel to and why?

elena-14-01-66 [18.8K]

I would live my life in the past because I would already know what would be happening in my life. I would be able to change the future for the better. If I were to live 1 year in the future the world can be completely different, and I wouldn't have a clue on how it changed.

7 0

3 years ago

Read 2 more answers

Which of the following give the bowed-outward shape to the PPF?Choose one or more:

charle [14.2K]

Answer:

B.the law of increasing opportunity cost

Explanation:

PPF is graphical representation of product combinations that an economy can produce, given resources & technology

It is downward sloping because - given same resources & technology, one good 's production can be increased by decreasing production of other good.

Resources are assumed to be unequally efficient in production of resources. Shifting production from one good to other occurs with increasing Marginal Opportunity Cost (amount of good sacrifised to gain an additional unit of the other good.

This makes slope of PPC i,e MOC to rise & makes it concave i.e outward bending

6 0

3 years ago