The answer is diminish economic growth.
- The lack of property rights will produce difficulties in the daily lives of the people, and they will not be rectified unless the government intervenes with some property rights, because everyone would grab the property with power because the property rights are not there to claim the rights.
- Negative growth is defined as a drop in a company's revenues or earnings, or a drop in an economy's GDP in any quarter. Negative growth is characterized by declining wage growth and a decline of the money supply, and economists consider negative growth as a precursor to a future recession or depression.
- Economists usually believe that four variables drive economic development and growth: human resources, physical capital, natural resources, and technology.
Thus this is the meaning of diminish economic growth.
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Answer:
debit to Bad Debt Expense for $5800
Explanation:
Accounts receivable estimated as uncollectible = $8500
Allowance for Doubtful Accounts = $2700
Additional allowance for Doubtful debts required = $8500 - $2700
= $5800
The adjustment to record bad debts for the period will be
Debit Bad debt expense $5800
Credit Allowance for Doubtful Accounts $5800
The right option is debit to Bad Debt Expense for $5800
Answer:
-1.0 million
Explanation:
the debt issued in the second year is equal to the sum of the excess of revenues over outlays
in year 1, debt = $1.0 million - $1.5 million = $-0.5 million
In year 2, debt = $1.5 million - $2.0 million = $-0.5 million
$-0.5 million + $-0.5 million = -1.0 million
Answer:
Journal Entry
General Ledger Dr. Cr.
Cash $7,085
Sales Tax Payable $585
Sales $6,500
Explanation:
Sales tax is the amount of tax collected by the business on the taxable sales from customers on behalf of government and pay it to government after that. Sales tax will be included in the cash received from the customer and recorded as the payable for the business.
Sales Value = $6,500
Sales Tax = 9%
Sales inclusive of Sales tax = $6,500 x 109% = $6,500 x 1.09 = $7,085