Answer:Bad debt expenses will be $2000 on the income statement and Allowance for uncollectible Accounts will be ($3000) on the balance sheet.
Explanation:
The bad debt accounts and allowance for uncollectible accounts are stated in the income and balance sheet statement respectively yearly to monitor activities on collectible debts.
A firm based on his experience determined an estimated percentage of debts outstanding for the year that are likely to go bad. If the new estimate is greater than the previous year, the difference is debited to income statement and if the new estimate is less than the previous year estimate the difference is credited to the income statement.
In the above scenario the new year estimate is greater than previous year by $ 2000 and that lead to $2000 to be debited to income statement.
The balance is made to reflect the total of the new estimate to be deducted from collectible debt and this is why ($3000) goes to the balance sheet.
Equilibrium price will increase and quantity will decrease will be the resulting change in the equilibrium of the chocolate bar market.
The equilibrium charge is the rate at which the amount demanded equals the amount supplied. It's far decided through the intersection of the demand and deliver curves. A surplus exists if the amount of an excellent or carrier provided exceeds the amount demanded on the contemporary charge; it causes downward strain on the charge.
Equilibrium is the nation wherein market supply calls for balance every other, and as a result, costs come to be strong. Typically, an over-supply of goods or services causes expenses to move down, which results in a higher call for—while an underneath-deliver or shortage causes fees to head up resulting in less demand.
Upward shifts inside the supply and demand curves have an effect on the equilibrium rate and amount. If the deliver curve shifts upward, meaning deliver decreases however demand holds constant, the equilibrium rate will increase but the quantity falls.
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Answer:
Normal balance
Explanation:
Accounts are expected to have either debit or credit balance, depending on their classification. The accounting equation of Assets is equal to equity plus liabilities is the basis for account classification. Assets accounts are on one side, while accounts relating to equity and liabilities are on the other.
Accounts have normal balances if the balances at the end of a period are as expected. Assets accounts are expected to have debit balances, while equity and liabilities accounts should have credit balances.
Answer: 1. High Agreeableness
2. They know how to acquire and use power.
They manipulate others for personal gain.
Explanation:
1. A Highly Agreeable person is one who kind and considerate for others. They are altruistic and are optimistic and will usually go along with other people's ideas because they trust easily. Amy is Highly Agreeable and that was why she went along with the idea.
2. Machiavellianism is a personality traits that involves the use of manipulation to gain personal goals. Considered individuals with low empathy, they are cold emotionally and don't care much for morality.
They are able to acquire and use power through this manipulation.
Answer:
Historical costs is objectively and precisely measured, whereas market values can be difficult to estimate, and different analysts would come up with different
values.
Explanation:
In preparing a balance sheet it is customary for a company to value the assets and other items based on historical costs rather than market values.
For example if an asset is purchased at $20,000, this value will reflect in the balance sheet in subsequent years. Or future calculation will be based on this.
Let's say yearly depreciation is $1,000 then after on year the value will be $19,000, after two years $18,000 and so on.
This is more object than market value which varies at any one time.
Market value for an item will vary depending on location and the market.
