Answer:
debit Sales $15,000; debit Purchases Returns and Allowances $200 and credit Income Summary for $15,200
Explanation:
Based on the information given the CLOSING ENTRY that RB Auto would make at the end of the accounting period to close their revenue accounts and income statement accounts with credit balances are:
Debit Sales $15,000
Debit Purchases Returns and Allowances $200 Credit Income Summary for $15,200
($15,000+$200)
(To close revenue accounts and income statement accounts)
The standard of living will fall down.
The Financial institutions that engage in activities such as investing, currency exchange, and money deposits. Commercial banks, investment banks, brokerage businesses, insurance companies, and asset management funds are common examples.
Americans had faith in the banks and the economy, which appeared to be stable. It would be hard for enterprises to acquire financing if consumers lost trust in the safety of financial institutions . As a result, capital investment would stall, unemployment would rise, output of goods and services would fall, and the overall quality of life would deteriorate.
Therefore, the answer is fall in standard of living.
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Depending on the location if the house and how much you want to sell it for. Just make sure basic things such as Holes in wall’s are fixed or more noticeable details. Otherwise if the house is in good shape and appliances, heating, water are all fine then not a lot.
Answer:
Dr Bad debt expenses $4,149
Cr Allowance for uncollectible accounts $4,149
Explanation:
Dr Bad debt expenses $4,149
Cr Allowance for uncollectible accounts $4,149
13%×$26,300= $3,419
$3,419 +$730=$4,149
Answer:
The right choice is Option c (110.0%).
Explanation:
⇒
On estimating the values, we get
⇒ =
⇒ =
Note: percent = %