Electric bill payable Liability
<h3>Is an electric bill considered a liability?</h3>
In our example, the utility bills for gas and electricity used in December are both an expense and a liability as of December 31.
When the utility bills are paid, the liability is eliminated.
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Answer:
As a part of CSR initiatives (or purely governmental), nurturing environmental beneficial factors is always a plus for the whole economy.
Decreasing pollution can further improve the tourism sector, and change property values by encouraging real estate in "green areas". Clean energy initiatives (wind and solar energy) have the ability to transform the whole energy industry, which is the input for most economy processes and businesses.
Answer:
method of recording transactions where for every business transaction, an entry is recorded in at least two accounts as a debit or credit. In a double-entry system, the amounts recorded as debits must be equal to the amounts recorded as credits.
Answer:
1. $33,400
2. $24,400
Explanation:
For computing the year-end balance in the allowance for uncollectible accounts first ,we have to compute the ending balance of accounts receivable which is shown below:
Ending balance of accounts receivable = Beginning balance + credit sales - customers’ accounts collected - write off amount
= $300,000 + $1,500,000 - $1,450,000 - $16,000
= $334,000
Now the year-end balance in the allowance for uncollectible accounts would be
= $334,000 × 10%
= $33,400
2. The computation of the bad debt expense is shown below:
= Year end balance of allowance for uncollectible accounts - beginning balance of allowance for uncollectible accounts + written off
= $33,400 - $25,000 + $16,000
= $24,400
The scale of measurement used here is an ordinal scale.
Ordinal scales ask participants to rate things like satisfaction, happiness, comfort. etc. The important thing to remember about this scale is that the order of the values matter the most. For example: we know that a 5 is better than a 1, but we are unsure of exactly how much better. This difference cannot be quantified or measured exactly. An easy way to remember this one is that ordinal sounds like "order" and that is what this measure is used for- putting things in order.
The most common form of ordinal measures is the Likert Scale. The question is an illustration of a Likert Scale.