Warner Company’s year-end unadjusted trial balance shows accounts receivable of $113,000, allowance for doubtful accounts of $74
0 (credit), and sales of $420,000. Uncollectibles are estimated to be 1.50% of accounts receivable. 1. Prepare the December 31 year-end adjusting entry for uncollectibles.
2. What amount would have been used in the year-end adjusting entry if the allowance account had a year-end unadjusted debit balance of $1,000?
The answer is 'add the deposit to the end cash balance per bank statement'
Explanation:
The company made a deposit on the last day of September and this was not recorded by the bank i.e it will not be shown on the bank statement at September 30. The company had already recorded this deposit in the cash book at office. This means the bank statement is less this deposit amount.
To correct this anomaly, the deposit that was not recorded by the bank will be added to the end cash balance as per bank statement.
The correct answer for the question that is being presented above is this one: "D. Most politicians do not care about helping the people become more prosperous."
Here are the following choices: <span>A. Politicians will follow bad economic policies in order to attract votes. B. Most politicians have a very poor understanding of the principles of economics. C. Politicians do not care about what is good for their citizens. D. Most politicians do not care about helping the people become more prosperous.</span>
I believe that the best action is to repurchase stocks.
Paying a large and unexpected dividend will yield an immediate return, but it will also decrease the stock's price. On the other hand, repurchasing stocks will result in lower outstanding stocks and the same cash flows. This will result in higher stock prices. Supposedly, upper management has the duty to increase the wealth of stockholders and that is achieved through higher stock prices.