Basically, the equity method is used to account the amount of an investment which is made by a company on an entity.However, this is done by an investor who contains a substantial amount of investment in the investee company.The investee records any adjustments in the other comprehensive income whereas the investor makes changes in the investment account.
Answer: a. $56925 ; b. Account payable
Explanation:
a. If Hoffman Company pays the invoice within the discount period, what is the amount of cash required for the payment?
Purchase invoice = $65000
Less: Return = ($7500)
Net Purchase Invoice = $57500
Less: Discount = $57500 × 1% = $575
Cash received = $56925
b. What account is debited by Hoffman Company to record the return?
The account that is debited by Hoffman Company to record the return is the account payable.
Answer:
Option E Price Escalation
Explanation:
Price Escalation is when the government imposes additional taxes on the product which is exported to their country, this makes the product expensive and the customer as a result don't buys that product. Such type of increases in prices are known as price escalation.
This reflects geocentric attitude.
The World Trade Organization (WTO) is the only global international organization addressing manufacturing the principles of trade between nations. The North American trade Agreement (NAFTA) was implemented to market trade between the U.S., Canada, and Mexico.
A company's employees, managers and board of directors compose a business's internal stakeholders. Employees of the manufacturing corporation are invested within the company's performance to make sure they still be paid and retain their jobs.
The Agreement Establishing the WTO recognizes the necessity for positive efforts to make sure that developing countries, and particularly those who are least-developed, share within the growth of international trade.
They make it easier for nations to try and do business. They increase product choices for consumers. They prevent two nations from exchanging manufacturing goods. Better risk management. One among the many advantages of international trade is market diversification.
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Answer:
b.a specific account receivable is decreased for the actual amount of bad debt at the time of write-off.
Explanation:
The journal entry to record the bad debt expense using the write - off method is shown below:
Bad debt expense XXXXX
To Account receivable XXXXX
(Being the bad debt expense is recorded)
So by passing this journal entry we get to know that the bad debt expense should be debited which reflects the actual amount as it increases the expenses while at the same time it reduces the asset account i.e account receivable
Hence, the correct option is b.
