Answer:
$28,000
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.
Given that Past experience indicates that the allowance should be 10% of the balance in receivables
Allowance = 10% * $150,000
= $15,000
Since during 2018, $29,000 of uncollectible accounts receivable were written off
Balance in allowance account before adjustment
= $29,000 - $16,000
= $13,000 (Debit)
Required adjustment for Doubtful Accounts at December 31, 2018
= $13,000 + $15,000
= $28,000
Answer:
B. Being unwilling to sell a painting that you already own
Explanation:
Endowment effect is when individuals value things they own more highly than things they don't own. The endowment effect postulates that individuals are unwilling to exchange things they own for something else of equal value.
The amount people would be willing to accept in exchange for the good they own is usually very high compared to the true value of the object they own.
I hope my answer helps you.
Answer:
Depending on the reason why Sidney requested the appraisal, she has two options:
- If Sidney got the appraisal because she thought her property taxes were too high, she can file a complaint with her local board of assessment review (BAR) in order to get her taxes reduced.
- Or if Sidney wants to sell her house she could appeal the appraisal amount and request a reconsideration of value.
Answer:
Option C; VIDEOCONFERENCING.
Explanation:
Video conferencing is a technology that allows users in different locations to hold face-to-face meetings without having to move to a single location together.
Videoconferencing may be used to announce significant changes at a company, such as promotions or to present information in an interactive way that allows all participants to engage in discussion about what they see on screen.
Since the corporation's employees are spread all over the world and the senior management are keen on capturing and gauging the emotional joy and delight on the faces of those promoted, therefore, the most appropriate method in announcing the promotions would be VIDEOCONFERENCING.
