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Oduvanchick [21]
3 years ago
12

Splish Brothers Inc. sold its accounts receivable of $70,300. What entry should Splish Brothers make, given a service charge of

4% on the amount of receivables sold?
Business
1 answer:
Bingel [31]3 years ago
8 0
Please help me! This is due tomorrow and I really need some help! Thank you.
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Are the statements true, false, or uncertain arguments? An export tax always reduces the exporter's net revenues. It is highly e
Musya8 [376]

1. The statement is true

Export taxes are paid by the exporters. These taxes include customs and     shipment changes a as a as well.

2. The statement is uncertain

We cannot make out which industry will use technological spril overs and which industry will not use it.

3. The statement is false  

Child employment is in non-tradeable sector for most of the poor countries.

4. The statement is true

low GDP per capita mean the country does not have enough output per person. It is not able invest in the human capital of the Country. Each of facilities like education, hospitality is another result of low GDP per capita and thus, eventually. Low GDP per capita lead to child labor because these children and their parents does not have money & basic facilities and that is why choose this option.

Non-tradable sectors are composed of production, distributive alternate, repairs, shipping, accommodation, meals services sports (GHI), actual property activities (L), enterprise offerings (MN), and public administration (OPQ). All sorts of tradable sectors can create productivity increase

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8 0
1 year ago
On January 1, 2005 Franz Company purchased a truck that cost $22,000. The truck had an expected useful life of 5 years and a $4,
allochka39001 [22]

Answer: The amount of depreciation expense recognized in 2006, using the double declining balance method is $5,280.

And the journal entries required are:

Debit Depreciation expense                     $5,280

Credit Accumulated depreciation             $5,280

Explanation: The double-declining method is otherwise known as reducing balance method. It is usually derived by using the formula below:

Double-declining depreciation = 2 X SLDP X BV

Where SLDP = straight-line depreciation percentage

           BV = Book value of the asset (Cost minus depreciation)

So using the straight-line depreciation method, we need to remove the salvage value from the cost and then divided by 5 years. That is, ($22,000 - $4,000) / 5 years = $3,060 yearly depreciation expense.

However, under the double-declining method, we need to divide the 100% by the useful life of the asset first to get the SLDP then multiply by 2, that is, 100%/5 years = 20% x 2 = 40%.

So 40% x $22,000 in year 1 (December 31, 2005) is $8,800

In year 2 (December 31, 2006), 40% x $13,200 ($22,000 - $8,800) = $5,280 and so on. The depreciation expense would stop immediately it falls below the salvage value of $4,000.

So the book value of the asset at the end of year 2 is $7,920 ($13,200 - $4,000 accumulated depreciation).

5 0
3 years ago
Read 2 more answers
Ken, a transaction broker, worked with both the buyer and seller in the sale of a home. The sale went well and it closed on time
vovangra [49]
Ken, the agent, violated the law of agency  
In this particular instance, when Ken told the the buyer that the seller would take a lower price than what was on the listing in order to close the sale faster and then told the buyer exactly which price they should offer, Ken, who is the agent, has now violated the law of agency
6 0
3 years ago
In the exact moment you run out of laundry detergent and realize you need to pick some up at the store, you are in the ________
shutvik [7]
In the exact moment you run out of laundry detergent and realize you need to pick some up at the store, you are in the problem recognition stage of the buying decision process. The problem recognition stage is realizing you have to make the purchase versus deciding to make the purchase of something. 
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3 years ago
What are the foundation of the case for free trade?
notka56 [123]

Answer:

the law of comparative advantage

Explanation:

6 0
3 years ago
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