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3 years ago

From an accounting viewpoint when is a business considered as an entity separate from its owner(s)

Business

1 answer:

aev [14]3 years ago

8 0

Answer:

Always

Explanation:

According to Business Entity Principle business and businessmen are a different person.

The business entity Doctrine notes that financial transactions must be reported independently from those of their shareholders.

To do so includes the use of the association of different accounting records which fully exclude any other individual or owner's total assets.

So we say that business entity is always separated from its owner.

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Oakpark, Inc.’s $180,000 Accounts Receivable balance at December 31 consisted of $160,000 current balances and $20,000 past-due

Tresset [83]

Answer:

B) Bad Debts Expense 4600 Allowance for Doubtful Accounts 4600

Explanation:

Before passing the adjusting entry, we have to do the calculations which are shown below

The computation of the credit loss is shown below:

= Estimated amount - Estimated uncollectible account - Account receivable ending balance

where,

Estimated amount = Account receivable ending balance × given percentage

= $160,000 × 2%

= $3,200

And, the estimated uncollectible amount = Past due balance × estimated percentage

= $20,000 × 15%

= $3,000

The other item values remain the same

Now put the values to the above formula

So, the value would be equal to

= $3,200 + $3,000 - $1,600

= $4,600

Now the journal entry would be

Bad debt expense A/c Dr $4,600

To Allowance for Doubtful Accounts $4,600

(Being credit losses are recorded)

8 0

3 years ago

When does it make sense for government to interfere with a pure market outcome?

guajiro [1.7K]

There are several situations when the government has to interfere with a pure market outcome. If the price of a product rises without any significant cause or if there is more supply than demand of a market, then the government can put a price ceiling or floor price of a product. This is purely to keep the economy of a country or state stable.

5 0

3 years ago

Piracy of intellectual property, such as music, videos, and software :A. may or may not affect social welfare in the short run

Bingel [31]

Answer:

The correct answer is the option C: may or may not affect social welfare in the short run but increases innovation in the long run.

Explanation:

On the one hand, <em>piracy of intellectual property</em> is consider to be one of the main problems nowadays regarding the area of music, movies and more due to the wide range that it has to reach people everywhere with just a click on the internet. Therefore that this concept at the short run may or may not affect social welfare regarding those that are affected such as the musicians or those that are benefit such as the common people, while in the other hand at the long run it increases the innovation due to the fact that the FBI agents and the affected people try their best in order to eliminate the piracy by creating new ways of dealing with it.

8 0

4 years ago

Greengage, Inc., a successful nursery, is considering several expansion projects. All of the alternatives promise to produce an

Ilia_Sergeevich [38]

Answer:

A. Project A

B. Project A has lowest Standard Deviation

C. Project D

Explanation:

The higher the range, the more risky the project is. Based on the table, project A has the smallest range, and therefore is the least risky based on range.

The standard deviation is not scale-free, i.e. it is not adjusted for the level of returns. Hence, a project that has the same distribution of returns, but a higher average return, will have a higher standard deviation. But the project is not any more risky. Hence, the standard deviation might not be an appropriate measure of risk.

The Coefficient of Variation (CV) is calculated as follows:

CV = Standard deviation / expected return

Applying this formula, the coefficient of variation for each project is:

Project A: 2.9% / 12.0% = 0.242

Project B: 3.2% / 12.5% = 0.256

Project C: 3.5% / 13.0% = 0.269

Project D: 3.0% / 12.8% = 0.23 4

Based on the coefficient of variation, project D has the lowest coefficient. It means that the project has the lowest risk per unit of return generated, and thus is the best project and should be chosen.

4 0

4 years ago

A shift of the supply curve to the right reflects a(n) (increase/decrease) in supply, while a shift of the supply curve to the l

BaLLatris [955]

The quantity of the product delivered will decrease if the curve shifts to the left, but it will grow if it shifts to the right.

<h3>What is a supply curve?</h3>

The supply curve illustrates the relationship between the price of an item or service and the volume delivered over a specific time period. In a typical scenario, the amount supplied will be shown on the horizontal axis and the price will be shown on the left vertical axis.

The shift in the supply curve:

Variations in the cost of production and related factors can cause a whole supply curve to move to the right or left. Ceteris paribus: Supply curves connect prices and output under the supposition that nothing else changes.

As a result, moving the supply curve to the right will increase supply while adjusting it to the left would decrease it.

Learn more about the supply curve:

brainly.com/question/9228571

#SPJ1

6 0

2 years ago