I guess the correct answer is the narrow view, or invisible hand theory
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The narrow view, or invisible hand theory, holds that producing profit is more important than being socially responsible.
Answer:
The amount worth $6,000 will be debited to the account in Year 2
Explanation:
When the uncollectible accounts are written off, then the debit is created to the allowance and the credit to the accounts receivable. The starting balance in the allowance account is $90,000 and the ending balance is $100,000 and the expense of bad debt is $16,000
The write off is computed as:
Write off = Beginning balance + Bad debt expense - Ending balance
= $90,000 + $16,000 - $100,000
= $106,000 - $100,000
= $6,000
Therefore, the amount of $6,000 is to be write off in Year 2
Answer:
<em>Accounting is the process of recording financial transactions pertaining to a business.</em>
Answer:
21
Explanation:
Given that:
The utility function U(x, y) = 
The budget line income is:
105=4x +3y
The equation MRTS is:
where;
and:
∴
Using the equation MRTS:
4x = 12y
x = 12y/4
x = 3y
Replacing the value of x into the budget line income, we have:
105 = 4x + 3y
105 = 4(3y) + 3y
105 = 12y + 3y
105 = 15y
y = 105/15
y = 7
Then, from x = 3y
x = 3(7)
x = 21
Thus, she will consume 21 gapefruits
Answer:
$75,000
Explanation:
Calculation for the annual dividend on the preferred stock
Using this formula
Annual Dividend= Number of shares × Par value × Dividend %
Let plug in the formula
Annual Dividend= 10,000 shares × $125 × 6%
Annual Dividend= $75,000
Therefore the annual dividend on the preferred stock will be $75,000
