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3 years ago

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.

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Logan and Johnathan exchange land, and the exchange qualifies as like kind under § 1031. Because Logan's land (adjusted basis of

ZanzabumX [31]

Answer:

a. Logan's recognized gain is $38,600

b. Logan's recognized gain is $23,160

Explanation:

a. If the worth of the land for Jonathan is $183,350, then the gain recognized by Logan would be;

the lower of the realized gain between the amount realized of $231,600 - adjusted basis of $193,000 = $38,600

or the fair market worth of the received boot i.e $48,250.

Therefore, Logan's recognized gain is $38,600

b. Suppose Jonathan's land is worth, $208,440, then we can calculate Logan's recognized gain to be ;

the lower of the realized gain I.e amount realized of $231,600 - adjusted basis $193,00 = $38,600

or the fair market value of the received boot I.e $23,160 .

Therefore, Logan's recognized gain is $23,160

6 0

3 years ago

If the government wants to increase production of a good to achieve marginal social benefit, then the following policy will most

Kobotan [32]

Answer:

a. a subsidy so that the firm can operate where marginal social benefit equals marginal social cost.

Explanation:

The private company is producing when the marginal revenue matches the marginal cost. The governemtn will want to decrease the cost (that's by subsidize the activity) to match the marginal revenue considering the positive externalities.

The government will do a pigouvian subsidy.

The government reasons to go for this is that the good or services provide positive externalities Which are enjoy by people who doens't purchase the good. Thus, this subsidy will increase the amount of ooutput thus, generating a better social benefit.

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3 years ago

You have been appointed head of marketing for Barry's Younique Yachts. Barry, the CEO, is interested in determining whether offe

Zielflug [23.3K]

Answer:

that he should reduce his prices. Yachts are luxury goods and therefore exhibit a high price elasticity of demand. Thus, reducing prices would increase revenue.

Explanation:

Luxury goods usually have a high elasticity of demand when compared with necessity goods which are highly inelastic.

An elastic demand means that a change in price would have a considerable impact on quantity demanded.

Therefore, if the price of the yachts which is a luxury good with high elasticity is reduced, demand for yachts would increase and revenue would increase.

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2 years ago

Which of the following best illustrates the unit of account function of money"?

Evgesh-ka [11]

Answer:

Explanation:

a you list prices for candy sold

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3 years ago

Read 2 more answers

An appliance manufacturer wants to contract with a repair shop to handle authorized repairs in Indianapolis. The company has set

luda_lava [24]

Although one would repair at the most time of 76 minutes, the other is at most 77.1 minutes. I would pick the second one because they may take longer by 1.1 minutes at most, they also included seconds, which seems more like an honest bid time.

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2 years ago