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nasty-shy [4]
3 years ago
13

When using the direct write-off method off accounting for uncollectible receivables, the account Allowance for Doubtful Accounts

is debited when a specific account is determined to be uncollectible. True or False
Business
1 answer:
lubasha [3.4K]3 years ago
4 0

Answer:

False

Explanation:

Allowance for Doubtful Accounts account is a contra asset account. In this case it would lower the value Accounts Receivable account.

So when you use the write-off method for uncollectible receivables, the account Allowance for Doubtful Accounts is CREDITED. When an asset decreases, it should be credited.

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Answer: Savings decrease, and investment decreases

Explanation:

A tax is referred to as a levy which is imposed on the people in a particular country so that the government can generate revenue.

When there's an increase in the tax rate, it simply means that the government wants to generate more money. This will have an effect on the consumption, savings and investment of the individuals in the economy as their savings will be reduced, consumption reduces and investment reduces as well.

7 0
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What will be the depreciation, via the straight line method, if the cost of a plant is $43,250, estimated disposal value is $3,2
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Answer:

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<u>The first step,</u> is to calculate the depreciable amount for the asset:

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40,000/5 = 8,000

In some particular cases, the first year the asset enter the accounting it could be for a period of half the accounting period, so only half-year depreciation is appliedon the first year.

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3 years ago
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brainly.com/question/14175988

6 0
2 years ago
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