Answer:
the answer is given below;
Explanation:
a.Allowance for doubtful accounts $401,100*3%=$12,033
Allowance for doubtful accounts-opening ($3,110)
Bad Debt Expense $8,923
Bad Debt Expense Dr.$8,923
Allowance for doubtful accounts Cr.$8,923
b.Allowance for doubtful Accounts $401,100*3%=$12,033
Allowance for doubtful accounts-opening $890
Bad Debt Expense $12,923
Bad Debt Expense Dr.$12,923
Allowance for doubtful accounts Cr.$12,923
Answer: e
Explanation :
A balance sheet is a statement of the financial position of a business that lists the assets, liabilities and owner's equity at a particular point in time. In other words, the balance sheet illustrates your business's net worth.
The balance sheet may also have details from previous years so you can do a back-to-back comparison of two consecutive years. This data will help you track your performance and will identify ways to build up your finances and see where you need to improve.
A balance sheet reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure . the balance sheet is divided into two sides (or sections). The left side of the balance sheet outlines all a company’s assets. On the right side, the balance sheet outlines the companies liabilities and shareholders’ equity. On either side, the main line items are generally classified by liquidity. More liquid accounts like Inventory, Cash, and Trades Payables are placed before illiquid accounts such as Plant, Property, and Equipment (PP&E) and Long-Term Debt. The assets and liabilities are also separated into two categories: current asset/liabilities and non-current (long-term) assets/liabilities.
I guess there should be an options to choose. Anyway, I know the answer. Thype of credit which is used to lease a building is called Installment Credit.
Answer:
4.0
Explanation:
Degree of operating leverage = Contribution Margin / Income
Degree of operating leverage = 4000,000/1000,000
Degree of operating leverage = 4 times
If the sales are Increased by the X% then the income will be increased by the 4.0*X%.