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Alex777 [14]
3 years ago
7

On December 31, after making a concerted effort, management determines that it will not be able to collect the $1,200 owed to it

by its customer Acme, Inc. The company uses the direct write-off method to account for uncollectible accounts. Prepare the necessary December 1 journal entry to write off this $1,200 uncollectible account journal entry
Business
1 answer:
zvonat [6]3 years ago
4 0

Answer:

See explanation section

Explanation:

To record the journal entry to write off the uncollectible account according to the direct write-off method, we have to use bad dad expanse instead of an allowance account.

December 31         Bad Debt Expense           Debit     $1,200

                              Account receivable - Acme, Inc.      Credit    $1,200

Note: As the company did not get the money from the Acme, Inc., They treated the expense as irrecoverable.

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A court ruling against the wrongful dismissal of employees is a development in the _____ component of the general
monitta
<span>A court ruling against the wrongful dismissal of employees is a development in the political or legal component of the general. Wrongful dismissal or termination of contract of employment without proper process violates the law of contracts. When this happens, the court takes the employee's rights into consideration in filing damages.</span>
3 0
3 years ago
Skidmore Music Company had the following transactions in March:
finlep [7]

Answer: Check attachment

Explanation:

A cash basis income statement is simply referred to as an income statement which contains revenues and expenditures for the company whereby cash has either being received or paid by the company.

For accrual basis income statement, revenue and expenditures are recorded when they're either earned or made.

Check the attachment for more analysis.

5 0
3 years ago
Esmeralda promises to pay fiorello $400 because ""he does not have as much money as other people. "" esmeralda’s promise is not
Butoxors [25]

Esmeralda's promise is not enforceable because society does not want gifts cheapened by making them legally enforceable because society does not want gifts cheapened by making them legally enforceable.

A legally enforceable contract means that you can keep the promise of the other party. If the other party fails or refuses to meet its obligations, the contract can be fulfilled in accordance with the law.

A non-enforceable contract or transaction is valid but not enforced by the court. Unenforceable is typically used in conflict with void (or void ab initio) and voidable. If the parties implement the agreement, it is valid, otherwise, the court will not enforce them.

Learn more about legally enforceable here:brainly.com/question/7306383

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8 0
2 years ago
EuroRail and Swiss Rail are hypothetical railways that have a duopoly on the route that connects the cities of Zurich and Munich
Wittaler [7]

Answer:

Select the answer that best describes the strategies in this game.

  • Both companies dominant strategy is to add the train.

Does a Nash equilibrium exist in this game?

  • A Nash equilibrium exists where both companies add a train. (Since I'm not sure how your matrix is set up I do not know the specific location).

Explanation:

we can prepare a matrix to determine the best strategy:

                                                  Swiss Rails

                                     add train             do not add train

                                    $1,500 /             $2,000 /

           add train                     $4,000                $7,500

EuroRail

      do not add train    $4,000 /             $3,000 /

                                               $2,000                $3,000

Swiss Rails' dominant strategy is to add the train = $1,500 + $4,000 = $5,500. The additional revenue generated by not adding = $5,000.

EuroRail's dominant strategy is to add the train = $4,000 + $7,500 = $11,500. The additional revenue generated by not adding = $5,000.

A Nash equilibrium exists because both companies' dominant strategy is to add a train.

7 0
3 years ago
perfectly competitive firm sells pineapples for​ $4 each. MR​ = MC at a quantity of 600 units. Average total cost at the​ profit
mart [117]

Answer:

$ 750

Explanation:

Total cost = average total cost × quantity = $ 2.75 × 600 = $ 1650

Total revenue = price × quantity = $ 4 × 600 = $ 2400

profit = $ 2400 - $ 1650 = $ 750

5 0
3 years ago
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