Answer:
Explanation:
Loan 3000000
Interest 4%
There are three steps to solve correction of errors entries
Step-1 what entry have been made
Step-2 what should be the actual entry.
Step-3 what should be net entry to make it correct.
Step-1 what entry have been made
Accrued Expense payble 3000000*4% 120000
Cash 120000
Wrong entry that has been in books. instead of recording expense we have reduced the liability by debiting it.
Step-2 what should be the actual entry.
interest Expense 3000000*4% 120000
Cash 120000
The correct entry that should have been made
Step-3 what should be net entry to make it correct.
interest Expense 3000000*4% 120000
Accrued Expense payble 3000000*4% 120000
Now we have debited the expense that should be recorded and to increase the laibility we have credited the liability that have been decreased in entry 1.
Answer: Establishing an Allowance for Doubtful Accounts under the allowance method is necessary <u><em>because estimates must be made when recording bad debt expense and it is not possible to know which specific accounts will not be collected.</em></u>
Allowance for doubtful accounts is a diminution of accounts receivable and is recorded as a write-off straightaway beneath accounts receivable that is appearing on a organization balance sheet.
Answer:
defines who you are and identfies your purposes,whether in the office or simply in life. also it it explains how you aim to pursue that purpose and why it matters so much
The high-income economies of the world include approximately 12% of the world’s population and produce and consume 60% of the world’s GDP.
<h3>What is GDP?</h3>
The gross domestic product stands as a monetary measurement of the market value of all the final goods and services produced in a distinctive period by countries. Due to its complex and subjective nature, this measure exists often revised before being deemed a reliable indicator.
Gross domestic product (GDP) stands for the total monetary or market value of all the finished goods and services constructed within a country's borders in a typical period. GDP measures the worth of the final goods and services produced in the United States (without double counting the middle goods and services used up to produce them).
The high-income economies of the world include approximately 12% of the world’s population and produce and consume 60% of the world’s GDP.
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Answer:
The combination Labour delivery room
Explanation:
Utilization refers to the degree by which available resource
is being used.
It is given by the ratio of total input to total output
The attached file shows a complete solution
