Answer:
The necessary adjusting entry would include a credit to the allowance account for $40080
Explanation:
Marigold Corp.'s Account Balances
At December 31, 2020
Accounts Receivable $917000 Debit
Allowance for Doubtful Accounts $1920 credit
Bad Debts $42000
Unadjusted Balance of Uncollectibles $ 1920
<u>Estimated Balances $ 42000</u>
<u>Required Adjustment $ 40080</u>
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The data tells that the Allowance for Doubtful Accounts has a credit balance of $1920 the required adjustment to the allowance for doubtful accounts is $ 40080. The required entry is
Bad debts Expense 40,080 Dr.
Allowance for Doubtful Accounts $40,080 credit
Answer:
The answer is $10,800
Explanation:
Straight line method of depreciation is:
Cost - residual value/number of useful life
Cost - $62,000
Residual value - $8,000
Number of years - 5years
=62,000 - 8,000/5
=57,000/5
$10,800.
Therefore, $10,800 will be charged every year.
Answer: Valence element
Explanation: In simple words, valence element refers to those elements which manipulates the behavior of an individual to choose one element over other due to some important factors in considerations.
In the given case, the perks offered by company does not fascinate Stella as she does find any utility in them due to absence of some elements. Hence we can conclude that she is low on valence element.
Unit pricing can be used in various types of contracts to require the buyer to pay the supplier a predetermined amount per unit of service.
784.967 rounded to the nearest whole number is 785
