Answer: A person who owns and runs a business, which is normally a small business (eg. Shop Owner).
The sole trader has unlimited liability, meaning that his assets will be used in case of default to pay.
Answer: Allowance for the doubtful accounts with a credit balance of $29,600
Explanation:
From the information that is provided in the question, the following can be deduced and the year-end financial statements should show:
Allowance for the doubtful accounts with a credit balance will be calculated as: the beginning allowance for the doubtful accounts + (the sales × Provision % ) - accounts receivable that were written off.
= $3,500 + ($1,110,000 × 3%) - $7,200
= $3500 + $33300 - $7200
= $36800 - $7200
= $29,600
K will be 857.
The sample size in statistics is a measurement of the total number of samples utilized in an experiment. The sample size is 50, for instance, if we are evaluating 50 samples of city dwellers who watch TV. It's also known as sample statistics. The process of gathering, organizing, arranging, summarizing, and drawing inferences from data is the subject of statistics, which is the study of this process. We encounter two different forms of data in statistics:
1) populace information
2) Data examples
Population data is a sizable collection of information that covers the entire population under study. All the components that are investigated for the research
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The cat is a good life story but it was a lot better and more fun than that I think I was kind
Answer:
Cowboy Law Firm
<u>Income Statement for the year ended 31 December</u>
Service revenue $7,700
Less Expenses :
Salaries expense $1,400
Utilities expense $1,200 ($2,600)
Net Income $5,100
Explanation:
It is important to remember that the income statement accounts for Income and expense items only.
