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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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A decrease in demand and an increase in supply will rev: 05_07_2018 Multiple Choice increase price and affect the equilibrium qu
aniked [119]

Answer: The correct answer is : "<u>decrease price and affect the equilibrium quantity in an indeterminate way</u>.".

Explanation: A decrease in demand and an increase in supply will  decrease price and affect the equilibrium quantity in an indeterminate way.

6 0
3 years ago
Krit Corp. is a US manufacturing company based in the Midwest. As an investor, Wilson bought 200 shares of stock in Krit Corp. T
Westkost [7]

Answer:

total wealth in Krit Corp is $5000

Explanation:

given data

stock  = 200 shares

treading = $25 per share

to find out

total wealth in Krit Corp

solution

we know here investor bought 200 share at $25 per share current treading

so here

total wealth in Krit Corp wuill be = stock × treading ...............1

put here all these value we get in equation 1

total wealth in Krit Corp = stock × treading

total wealth in Krit Corp = 200 × 25

total wealth in Krit Corp = $5000

so total wealth in Krit Corp is $5000

3 0
3 years ago
when darren met the ceo of his company for the first time, he made sure to give the boss a firm handshake and a smile. darren wa
Igoryamba

Impression management was practised by darren.

Impression management is the subconscious or conscious effort to influence other people's perceptions, decisions, and opinions.

Impression management (also known as self-presentation) refers to the processes by which people control how others perceive them. People are more motivated to control how others perceive them when they believe that their public images are important in achieving desired goals, the goals for which their impressions are important, and there is a gap between how they want to be perceived and how others perceive them. The actions people take to persuade others to think about a concept in a certain way are referred to as impression management. People use impression management to either reinforce or change their current opinions, depending on their goals.

brainly.com/question/2725280

#SPJ4

8 0
1 year ago
Suppose that electricity producers create a negative externality equal to $6 per unit. Further suppose that the government impos
Komok [63]

Answer:

b. The after-tax equilibrium quantity is less than the socially optimal quantity

Explanation:

Negative externality is when the cost of either production or consumption activities to third parties exceeds its benefits.

An example of an activity that generates negative externality is pollution.

One way to reduce externality is through taxation.

The amount of negative externality generated is $6 but the amount of tax imposed is $8. The tax would reduce equilibrium quantity by $8 while the amount of negative externality produced is $6.

4 0
3 years ago
Gluon Inc. is considering the purchase of a new high pressure glueball. It can purchase the glueball for $220,000 and sell its o
kaheart [24]

EQUIVALENT ANNUAL SAVING:

"the equivalent annual saving from the purchase if Gluon can depreciate 100% of the investment immediately is $13,245.99".

Since they are  purchasing the new machine by first disposing off the old machine.

Hence,

First step is to Determine the Net initial investment

Net initial investment = $220,000 - $40,000

Net initial investment= $180,000

Second step is to determine the Total savings

Depreciation = $220,000/10

Depreciation = $22,000

Savings before tax = $48,000 - $22,000

Savings before tax= $26,000

Tax at 21% = (21%*$26,000)

Tax at 21% =$5,460

Savings after tax  $20,540

($26,000-$5,460)

Add back depreciation $22,000

Cash flow after tax $42,540

($20,540+$22,000)

Third step is to determine PV of CFAT and NPV

PV of CFAT = $42,540 x (10%, PVFA10Y)

PV of CFAT = $42,540 x 6.1446

PV of CFAT = $261,391

NPV = $261,391 - $180,000 = $81,391

Now let determine the EQUIVALENT ANNUAL SAVING(EAS)

Equivalent annual saving(EAS) = NPV/(10%, PVFA10Y)

Equivalent annual saving(EAS)= $81,391/6.1446

Equivalent annual saving(EAS)= $13,245.99

Therefore the EQUIVALENT ANNUAL SAVING from the purchase if Gluon can depreciate 100% of the investment immediately is $13,245.99

Learn more about EQUIVALENT ANNUAL SAVING here:

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8 0
3 years ago
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