Answer:
$165,000
Explanation:
The computation of the reported amount for Allowance for Doubtful Accounts is shown below:
= Young accounts × uncollectible percentage + old accounts balance × uncollectible percentage
= $100,000 × 5% + $400,000 × 40%
= $5,000 + $160,000
= $165,000
We simply added the young accounts and old account balance after considering the uncollected percentage
Answer:
cannot sue John for the extra $250 asJohn made the promise to him based on past consideration.
Explanation:
When Gerald was helping John build the garage, there was no agreement between them on payment for services. After the two weeks John made the promise to pay Gerald.
This is not a binding promise as John is paying Gerald at his own discretion as a past consideration, since no contract was agreed between them.
Answer:
Personal greed, Decline of personal ethical sensitivity, the size and structure of governments, economic freedom/openness of economy, Cultural environments that condone corruption, Lack of transparency, Slow judicial processes, etc.
Explanation:
Answer:
C. loss of 19,000
Explanation:
Old equipment cost = $215000 - $185000
= $30000
Loss = $30000 - $11000
= $19000 loss
Therefore, The amount of the gain or loss on this transaction is a loss of $19000.
Answer:
capabilities reflect a high level of social complexity and causal ambiguity.
Explanation:
The more complex of ambiguous a product is, the more challenging it is for rivals to imitate the product