This is because a loss would be recorded (debit) and liability established (credit) in advance of the settlement.
Responsibility is the responsibility of the individual or company and is usually the amount. Debts are settled over time by the transfer of economic interests, including money, goods, or services. The liabilities shown on the right side of the balance sheet include loans, liabilities, mortgages, income receivable, borrowings, guarantees, and accrued expenses.
Liability can be compared to assets. Debt is what you owe or owe. An asset is something you own or owe.
Main findings
Responsibility (generally) is something that owes someone else.
Liability may also mean legal or regulatory risk or obligation. In
accounting, companies compare liabilities to assets.
Current liabilities are short-term financial liabilities of companies that are due within a year or within the normal business cycle (such as accounts payable).
Long-term (long-term) liabilities are liabilities that are recorded on the balance sheet and are due within one year.
Learn more about Liability here: brainly.com/question/24534918
#SPJ4
Get a job, get money & bam you got money
Answer:
The correct answer is $4,500.
Explanation:
According to the scenario, the given data are as follows:
Uncollectible Account receivable = $5,000
Account receivable balance = $100,000
Allowance for Doubtful Accounts = $500
Credit sales = $150,000
So, we can calculate the bad debt expense by using following formula:
Bad debt expense = Uncollectible Account receivable - Allowance for Doubtful Accounts
by putting the value, we get
Bad debt expense = $5,000 - $500
= $4,500.
Techno is planning a security offering under Regulation D, Rule 505. Under this rule, Techno can offer an unlimited amount of securities. Securities are able to spit up different payments for profits. Through these securities regarding the regulation rule, Techno can offer a wide range of securities.
Answer:
c.a decrease in quantity demanded of poultry and an increase in the demand for fish.
Explanation:
The law of demand states that the higher the price , the lower the quantity demanded and the lower the price, the higher the quantity demanded.
Following from the law of demand, if the price of poultry increases, the quantity of poultry demanded would fall.
Because fish and poultry are subsituites goods, if the price of poultry increases, the demand for fish would increase.
I hope my answer helps you.