Answer:
D) Debit to Accounts Receivable
Explanation:
If you want to reinstate a specific receivable previously written off you need to do the opposite accounting entry at when the written off was made.
Previously was made a credit in the accounts receivable to deduct the amount of the bad debt, the opposite would be to make a debit in the Accounts receivable ot reflect the reinstanted value.
Answer:
(C) the cost of corporate advertising aired during the Super Bowl.
Explanation:
Fixed costs are the amount a business spends in the process of producing, promoting and distribution big it's products. In this scenario all the stores of Higado Confectionery Corporation will benefit from advertisements during the Super Bowl, so it will be a shared cost.
Also there will be a fixed amount that will be spent yearly on this, so it is a fixed cost for the stores, and will be reflected in the income statement as such.
Be clear about your words and focus on what you are presenting
Answer: elastic
Explanation:
The price elasticity of supply will be:
The percentage change in price will be:
= (1.50 - 0.50)/0.50 x 100
= 1.00/0.50 × 100
= 200
The percentage change in quantity will be:
= (4 -2)/2 x 100
= 2/2 × 100
= 100
Elasticity = % change in quantity/% Change in Price = 200/100 = 2
Since elasticity = 2, this indicates supply is elastic as it's greater than 1.
