Answer: Account payable
Explanation:
The account payable is one of the type of department which track all the expenditures, purchasing order statement and the payment.
The main responsibility of the account payable is that it maintain all the historical records of the payment and also balance all the debt system. It is the process of recording all the important information or the data.
According to the given question, the debt basically created by the business during the process of borrows from the supplier or the vendors is known as the account payable.
Answer:
$870
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
Allowance for uncollectible accounts at 5%
= 5% * $302,000
= $1,510
Since the Allowance for Uncollectible Accounts was $640 (credit) before any adjustments, the bad debt expense for the year
= $1,510 - $640
= $870
What? didnt quite understand your question.
Ecology is a systematic relationship of all living things with each other and their interaction with the environment that they live in. All living things in the world are connected with each other in terms of energy. So, it affects child development in ways of eating food from plants and animals. Moreover, the child could be molded by social interactions within the community.
Answer:
The accounting profits are $100, and the economic profits are $25
The option C. is correct
Explanation:
Accounting profit: The accounting profit is computed by subtracting the sales amount with the expenses.
In mathematically,
Accounting profit = Sales revenue - expenses
= $150 - $50
= $100
In this, the expense is the seeds cost
And, the economic profit is calculated by subtracting the accounting profit with the implicit cost
In mathematically,
Economic profit = Accounting profit - implicit cost
= $100 - $75
= $25
The implicit cost is computed by
= Per hour piano charges × number of hours
= $15 × 5
= $75
Hence, the accounting profits are $100, and the economic profits are $25
