The answer is A. True
Well, basically all types of business organization need to follow a particular framework and provisions.
It help to prevent a future misconduct between partners, and to keep the company in the good side of the Law
Answer:
increase total assets by $1,300.
Explanation:
The net effect is shown below
The first entry is
Cost of goods sold Dr $2,300
To Merchandise Inventory $2,300
(Being the cost of inventory is recorded)
Now the second entry is
Account receivable Dr 3,600
To Sales revenue 3,600
(Being the sales is recorded)
Now the net effect is
= 3,600 - 2,300
= 1,300
This 1,300 reflect the increase in the total assets
Answer: An increase in the expected price level shifts short-run aggregate supply to the D. Left, and an increase in the actual price level does not shift short-run aggregate supply.
Explanation: Aggregate supply is the total supply of goods and services that are available in a given market. The producers have production levels match a specific amount of items and then disperse them to the market. As prices change, then quantity supplied and purchased fluctuates accordingly.
Answer:
The adjusting entry which is to be recorded is shown below:
Explanation:
The adjusting entry which is to be recorded is as:
Bad Debt Expense A/c..................................... Dr $14,740
Allowance for Doubtful Accounts A/c...............Cr $14,740
As the company records the bad debt expense at the end of the present year
Working Note:
As the company used the percent of receivables sales
Amount = Accounts receivables × Percentage of ending receivable
= $446,000 × 3.0%
= $13,380
Bad debt expense amount = Amount - Debit balance of allowance for doubtful accounts
= $13,380 + $1,360
= $14,740
brand mark, it is one of the most well known brand marks
