Answer:
A. $950
Explanation:
Proper documentations of payments, purchases and income in any company is very necessary for growth.
From the question, the following transaction occured:
- March 3 => a desk was purchased for $450
- March 22 => another desk was purchased for $500
- March 24 => $400 was paid on account.
To know the amount that ABC should report for desks, the two transaction for desk should be summed and the result will be the amount that should be recorded.
Therefore,
$450 + $500 = $950.
The two methods of accounting for uncollectible receivables are the direct method and the <u>allowance</u> method.
The Financial Accounting Reserve Method refers to the bad debt process in which the estimated bad debt expense is recorded in the same accounting period as the sale. The provisioning method is used to adjust the value of accounts receivable shown on the balance sheet.
The direct depreciation method requires two separate postings to write off the irrecoverable account. Recognizing credit losses using the provisioning method reduces journal entries for recognizing certain charge-offs. Doubtful invoice deductions.
Under the allowance method, companies estimate the number of bad debts as a percentage of credit sales. Then apply that percentage to your credit sales when you get your revenue. Value adjustments correspond to income.
Disclaimer: Learn more about the allowance method here
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Answer:
D. implies that, for most people, the marginal benefit of reading a second newspaper is less than the marginal cost
Explanation:
When marginal cost is greater than marginal benefit ,There's inefficiency. It is better for the consumer to stop consumption at this point.
I hope my answer helps you
Answer: call; $180,000
Explanation:
Delta Importers has a pure discount loan with a face value of $180,000 due in one year. The assets of the firm are currently worth $215,000. The shareholders in this firm basically own a call option on the assets of the firm with a strike price of $180,000.
The equity of the firm is owned by the shareholders and it is identical to when a call option is being held and the strike price will be equal to the face value of $180,000.
Answer:
B. a decrease; a decrease
Explanation:
Substitutes' goods are products that can be consumed in place of each other. If one product is missing, consumers will be ready and willing to buy its substitute. An increase or fall in the price of a good or services will cause the demand for its substitute to move in the opposite direction.
Equilibrium quantity is when supply matches the demand. If the price of Tuna fish decreases, its demand will increase as more customers will afford it. Tuna and chicken are substitutes, should the price of Tuna decrease, customers will prefer to consume Tuna over chicken. Consequently, the demand for chicken will reduce w leading to a decrease in its price.
