Answer:
b. Liability, $9,000,000; expense, $0.
Explanation:
An asset retirement obligation (ARO) refers to an obligation with respect to the acquisition , construction, development, etc. The liability should be recognized the liability at the present value that should be expected to be paid for settling the obligations
Here the $9,000,000 million represents the liability
Also the journal entry is
Asset Dr
To liability
(Being the asset placed is recorded)
There is no expense should be recorded in the income statement
Answer:
Accounts receivable $361,000 debit
Allowance for uncollectible accounts $560 debit
Net Sales $806,000 credit
0.4% of credit sales are uncollectible = 0.4% x $806,000 = $3,224
adjusting entry:
December 31, 202x
Dr Bad debt expense 3,224
Cr Allowance for doubtful accounts 3,224
Allowance for doubtful accounts is a contra asset account that reduces accounts receivable.
The last one. hope it helps!
Answer:
Indirect and fixed
Explanation:
Indirect costs are those cost which cannot be directly attributable to any product.
Fixed costs are those which remains the same in the period whatever the level of activity (production, sales etc.) is. It does not vary with the change in the activity level.
Supervisor salaries cannot be traceable directly to any specific product, so it is considered as the indirect cost. As the Salaries are fixed payments made on monthly or annually basis, So it is also classified as the fixed cost.
Arts Direction
that is the answer
hope it works
