1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
algol13
3 years ago
6

What is the normal balance for the allowance for doubtful accounts (debit or credit), and why?

Business
1 answer:
abruzzese [7]3 years ago
7 0

The allowance for doubtful accounts has a normal credit account.

This account is a contra-asset account. Since assets have a normal debit balance, this account would have a normal credit balance.

You might be interested in
One of the main differences between residential mortgage loans and permanent financing of commercial real estate lies in the all
TiliK225 [7]

Answer – Nonrecourse loan

 

<span>In commercial real estate, the actual borrower is shielded from personal liability. In this case, the lender cannot lay claim to the personal properties of the borrower if ever he defaults. This type of loan is commonly referred to as a nonrecourse loan.</span>

7 0
4 years ago
Anita is an entrepreneur who is interested in starting a hair salon. Anita consulted her friend Ali, who is a businessman, to ge
Varvara68 [4.7K]

ANSWER 1. Capital

EXPLANATION: Calculating capital is necessary for a business. It is the basic duty of an entrepreneur to calculate capital before starting any business to check the financial capacity of the entrepreneur. Calculating capital also helps to estimate if any outside finance is necessary to start the business.

ANSWER 2: Set of Services

EXPLANATION: Choosing and categorizing set of services is necessary before starting any business. This will help in acquiring expert and trained set of labors to carry out the work. The clients will also come to know of the services that are available in the business. Expert and trained set of labors are difficult to find in any market.

ANSWER 3: Total Cost of Ownership

EXPLANATION: Total cost of ownership is a financial estimate intended to help buyers and owners determine the direct and indirect costs of a product or system. Each and every piece of equipment that Anita buys is added to the cost of the ownership of the business.

4 0
3 years ago
Read 2 more answers
One objective of affirmative action plans is to _____.
jonny [76]

Explanation:

avoid diversity in the makeup of the workforce

7 0
2 years ago
Determine if the people in the example have benefited (i.e., are winners) or have been harmed (i.e., are losers) by unexpected i
nevsk [136]

Answer:

Winners

  • 3rd National, a bank that loaned many people money for home purchases.

Losers

  • Karen, a retired school teacher that relies upon her fixed pension to pay for her expenses.
  • Herb, who keeps his savings in an old coffee can.
  • Joy, who has borrowed $40,000 to pay her college education.
  • The US federal government which had almost $15 trillion in debt in 2011.

Explanation:

When unexpected inflation occurs, the usual plan to by Monetary Institutions of a country is raising the interest rates.

By doing that, they want to stop it or slowly decelerate it.

So that it becomes more expensive to take a loan, the idea is to reduce consumption.

In Economics, it's a bad scenario after all. Few winners. Many losers.

So, let's examine them

Winners

  • 3rd National, a bank that loaned many people money for home purchases.

At first, The 3rd National is going to be winning since the value of the debt will rise, depending on the type of contract and an increase in the interest rate will demand corrections on the monthly payments. But on the other hand, the number of default clients and overdue installments will raise for sure.

Losers

  • Karen, a retired school teacher that relies upon her fixed pension to pay for her expenses.

Inflation reduces the real buying value of her checks. And her pension can't grow otherwise this will feed the inflation too.

  • Herb, who keeps his savings in an old coffee can.

Since his money is not invested then He's not having any earning that might give him some compensation. So his money is even more devalued.

  • Joy, who has borrowed $40,000 to pay her college education.

Depending on the contract Joy might be sleepless. Either her monthly payments will become more expensive or She may experience difficulties because of the weekly growing prices.

  • The US federal government had almost $15 trillion in debt in 2011.

Certainly, the president and his secretary will have to address the fact that due to inflation and the chosen medicine make the nation's debt up to the sky. They must renegotiate the payment deadlines.

7 0
3 years ago
The transportation model, when applied to location analysis: maximizes revenues. minimizes total fixed costs. minimizes total pr
NikAS [45]

Answer:

Correct Answer:

4. minimizes total transportation costs.

Explanation:

When a good transportation method is applied, it helps in minimizing the transportation cost involved in moving goods and services from one location to another. <em>For example, it cost 2 million dollars to transport a particular product. With good transportation model, it would definitely be cheaper.</em>

5 0
3 years ago
Other questions:
  • John has to decide whether to buy a zero-coupon bond with very little risk that costs $950 and will pay $1085 in one year or put
    7·1 answer
  • Keynes advanced the position that capitalism works best when
    15·1 answer
  • When the price of ground beef increases and all else is held constant, we would expect the supply of hamburgers to ___________,
    8·1 answer
  • Among Hispanic Americans and Asian Americans, the amount of assimilation may vary significantly, depending on newness of immigra
    13·1 answer
  • West County Bank agrees to lend Drake Builders Company $400,000 on January 1. Drake Builders Company signs a $400,000, 6%, 6-mon
    12·1 answer
  • For an investment to be classified as a current​ asset, A. the investment must be easily convertible to cash. B. the investor mu
    5·1 answer
  • suppose that phil had decided to take out a private loan for $9,000 where loan payments start as soon as the loan amount is depo
    10·1 answer
  • In a certain city last year, sales of treadmills were 50,000 units. Exercise Unlimited had a market share of 75 percent, followe
    14·1 answer
  • Panamint Systems Corporation is estimating activity costs associated with producing disk drives, tapes drives, and wire drives.
    6·1 answer
  • Cusic Music Company is considering the sale of a new sound board used in recording studios. The new board would sell for $24,700
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!