Answer:
(C) $140
Explanation:
The computation of the end year balance before adjustment is shown below:
= Opening balance of allowance for doubtful debts + reinstated previously written off accounts - uncollectible amount
= $760 + $120 - $740
= $140
For computing the end year balance we add the previously written off amount and minus the uncollectible amount to the opening balance of the allowance for doubtful accounts
Hence, option c is correct.
Answer:
Advantage in competition. ( competitive advantage)
Explanation: Whenever a hospital is more equipped or fully equipped with tools, machines, and any other factor that favors the saving of lives, that hospital will mostly have the upper hand in competition against it's rivals. It is safe to say a heart patient who is facing a life threatening situation would rather be taken to such a hospital for quick response to save their lives. A hospital less equipped with these kind of machines , especially those needed in critical moments like defibrillating someone who is experiencing cardiac arrest, will less likely be a first choice to treating patients of these nature. In critical moments like these a hospital better equipped will always be the first choice, disregarding other factors like cost. Now distance could be critical, but again, almost always if the distance is not too long then the better equipped gets the patients.
Answer:
Year end adjusting entry:
Debit Credit
Salaries expense $1,000
(10*100)
Salaries payable $1,000
January 4, journal entry:
Debit Credit
Salaries expense $3,000
(10*100*3)
Salaries payable $1,000
Cash $4,000
(10*100*4)
Explanation:
The year end adjusting entry that shall be recorded by the Pablo management in its accounts on December 31 in respect of salaries expenses is given as follows:
Debit Credit
Salaries expense $1,000
(10*100)
Salaries payable $1,000
The journal entry that shall be recorded by the Pablo management in its accounts on January 4 in respect of salaries paid to employees is given as follows:
Debit Credit
Salaries expense $3,000
(10*100*3)
Salaries payable $1,000
Cash $4,000
(10*100*4)
Answer:
$171,941
Explanation:
Cash out = $921,941. 2. Interest earned by the investment = $171,941.
Answer:
$2,420,000
Explanation:
The computation of the current liabilities reported is shown below:
= Short term note payable due - liquidate value of short term note payable + additional cash used
= $5,960,000 - $5,080,000 + $1,540,000
= $2,420,000
First we take the difference of the short term note payable and then we added the additional cash used so that the amount of current liabilities could come
