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drek231 [11]
3 years ago
14

A debit balance in Allowance for Doubtful Accounts a. is the normal balance for that account b. cannot occur if the percentage o

f receivables method of estimating bad debts is used c. indicates that actual bad debt write-offs have exceeded previous provisions for bad debts d. indicates that actual bad debt write-offs have been less than what was estimated
Business
1 answer:
Rudiy273 years ago
8 0

Answer:D. Indicates that actual bad debts write off have been less than what was estimated.

Explanation:

On opening a provision for bad debt account, the initial provision is debited to income account and credited to provision for bad debt account to be deducted from the debtors at year end. However a decrease in actual debt recovery will need to be debited to the account to reduce it and credited to income statement to reduce the previous charges.

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Other things the same, when the price level rises more than expected, some firms will have a. higher than desired prices, which
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Answer:

The correct option is C

Explanation:

Being other things to be constant, when the price rises more than the expected level, then the firms will be having a lower than the desired prices, which increases the sales because the firm has not expected or anticipated the higher prices which lead to the decision of keeping the prices low which could result or outcome in higher sales as the sales will shift from high price producers.

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A successful sushi chain in Hong Kong spent $500,000 to conduct a study on whether to open a location in the United States. The
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3 years ago
First National Bank charges 11.1 percent compounded monthly on its business loans. First United Bank charges 11.3 percent compou
Ronch [10]

Answer:

First National Bank's EAR is 11.68%

First United Bank's EAR is 11.62%

Explanation:

Effective annual rate=(1+APR/m)^m-1

APR is the  annual rates given in the question as 11.1% and 11.3%

m is the number of times in the year that compounding is done, for instance, it is 12 for monthly compounding and 2 for semiannual compounding

First National Bank's EAR=(1+11.1%/12)^12-1=11.68%

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