The allowance for doubtful accounts credited, instead of accounts receivable when recording the adjusting entry for bad debts Because accounts receivable is made up of numerous client accounts, it cannot be credited unless it is known which particular customer will not pay.
The provision for questionable accounts is referred to as a "counter asset" since it reduces the value of an asset, in this example, the accounts receivable. The compensation, often known as a doubtful account, is management's projection of the amount of accounts receivable that customers will not pay. Let's assume, using the aforementioned example, that on June 30 a business reports an accounts receivable debit balance of $1,000,000. The business predicts that $50,000 will not be converted into cash and expects some consumers won't be able to pay the full amount.
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Answer:
$262,000
Explanation:
Ending inventory = Goods on Hand + Cost Goods purchased from Marigold Corp + Cost of goods sold to Marigold Corp.
Ending inventory = $215,000 + $27,000 + $20,000
Ending inventory = $262,000
So, the amount that should Swifty report as its December 31 inventory is $262,000.
<span>In the context of information technology in workplaces,
clerical workers using computers for word-processing tasks is an example of job
upgrading. Clerical workers usually have routine work in the office which
involves administrative tasks or documentation. The use of computers helps them
perform these tasks. </span>
You are not required to wear a helmet while operating a motorcycle if you can show proof that you are covered by an insurance policy that provides at least C)$10,000 in medical benefits.
This situation related to the financial responsibility of the motorcycle driver to cover the accident. This situation regulated with a regulation called the Financial Responsibility Law.
Answer:
A) loses some of the benefits of market efficiency.
Explanation:
Taxes always result in deadweight losses. Deadweight loss refers to allocative inefficiencies resulting from an alteration in the equilibrium quantities and economic surplus.
Taxes always increase the price of goods or services, and that increase reduces the equilibrium quantity, therefore resulting in lower economic surplus (lower consumer surplus and lower supplier surplus). The price of a good or service is higher, decreasing the quantity demanded, but the net amount received by the supplier is lower, decreasing the quantity supplied.
