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3 years ago

Officials argue that the government needs to reduce the national debt. Which actions are most likely to accomplish this goal?

2 answers:

6 0

If o<span>fficials argue that the government needs to reduce the national debt, I believe that the actions that are most likely to accomplish this goal are to <span>increase taxation and decrease spending.
</span>If they increase taxation, more money will come into the state fund, and if they decrease spending, more money will actually stay there.</span>

Zina [86]3 years ago

5 0

Decrease taxation and spending

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Which of the following actions can be considered good business etiquette?

Crazy boy [7]

The answer is A, switching your cell phone off before you enter a meeting.

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3 years ago

A leftward shift in the long-run aggregate supply curve is most likely going to cause which of the following?

denpristay [2]

I whould say A have a bless day

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3 years ago

At the end of the prior year, Doubtful Inc. had a deferred tax asset of $18,500,000 attributable to its only timing difference,

iren [92.7K]

Answer:

Journal entries to record Doubtful's income tax expense for the current year.

No Account titles and Explanation Debit'$ Credit'$

1 Income tax expense 8,945,000

Deferred tax asset 3,800,000

[(42,000,000*35%) - 18,500,000]

Income taxes payable 5,145,000

[(14,700,000*35%)]

(To record tax expenses)

2 Income tax expense 1,270,000

Valuation allowance - deferred tax asset 1,270,000

(3,730,000 - 5,000,000

(To record valuation allowance)

7 0

3 years ago

Oak Interiors is owned and operated by Fred Biggs, an interior decorator. In the ledger of Oak Interiors, the first digit of the

Kipish [7]

Answer:

Oak Interiors

Matching each account number with its most likely account in the list:

12 - Cash

13 - Accounts Receivable

17 - Land

21 - Accounts Payable

31 - Fred Biggs, Capital

32 - Fred Biggs, Drawing

41 - Fees Earned

51 - Supplies Expense

52 - Wages Expense

53 - Miscellaneous Expense

Explanation:

a) Data and Classifications:

Digits and Accounts:

1—assets

12 - Cash

13 - Accounts Receivable

17 - Land

2—liabilities

21 - Accounts Payable

3—owner’s equity

31 - Fred Biggs, Capital

32 - Fred Biggs, Drawing

4—revenues

41 - Fees Earned

5—expenses

51 - Supplies Expense

52 - Wages Expense

53 - Miscellaneous Expense

b) The chart of accounts of Oak Interiors is where the financial accounting is organized into five major categories. These categories are called accounts. They include assets, liabilities, equity, revenue, and expenses. This implies that all business transactions that are recorded in accounts are summarized under any of these five major headings.

4 0

3 years ago

The following information relates to a company’s accounts receivable:

notka56 [123]

Answer:

1. $31,000

2. $40,000

Explanation:

1. Computation of bad debt expenses for the year

Bad debt expenses = Credit sales × Bad debts expenses

= $1,550,000 × 2%

= $31,000

2. Computation of year end balance

Year end balance = Beginning balance + Bad debt expense - Written off

= $31,000 + $31,000 - $22,000

= $40,000

Therefore for computing the bad debt expenses and year end balance we simply applied the above formula.

6 0

3 years ago