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Dafna11 [192]
3 years ago
15

Kirchhoff Industries has computed that the proper balance for the Allowance for Doubtful Accounts at August 31 is $143,495. Assu

me that the allowance for doubtful accounts for Kirchhoff Industries has a credit balance of $6,934 before adjustment on August 31. Required: Journalize the adjusting entry for uncollectible accounts as of August 31. Refer to the chart of accounts for the exact wording of the account titles. KNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. KNOW journals will automatically indent a credit entry when a credit amount is entered.
Business
1 answer:
sveticcg [70]3 years ago
4 0

Answer:

Date        Account titles and Explanation          Debit         Credit

31 Aug.    Bad debt expense                             $136,561

               ($143,495 - $6,934)

                       Allowance for doubtful accounts                 $136,561

               (To record computed allowance)

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You go on vacation to Mexico and take $1,000 with you. During your time in Mexico, the peso appreciates in value relative to the
pogonyaev

Answer:

We will be able to purchase fewer goods and services.

Explanation:

Appreciation of a currency in terms of another currency implies an increase in the worth of a currency in terms of another currency.

An appreciation in the value of peso in terms of dollars means that the worth of peso has increased in terms of dollar.

In other words, the worth of dollar in terms of peso has decreased. The value of $1,000 will decline.

So, a tourist in Mexico with $1,000 will be able to buy fewer goods an services.

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3 years ago
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zavuch27 [327]

Answer:

Inventory at the end of march will be 150

Explanation:

We have given inventory at the end of April = 200 units

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Production expected during April =  100 units

We have to find the inventory at the end of march

Inventory at the end of April is given by

Inventory at the end of April = production in april - demand in april + inventory of march

So 200 = 100 - 50 + inventory of march

So inventory of march = 150

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4 years ago
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A situation in which both unemployment and inflation rates are high is known as ______.
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Stagflation is a condition in which both the unemployment rate and the inflation rate are high. Stagflation is characterised by slower economic development, low employment rates, and increased inflation rates. Stagflation is the occurrence of low economic growth, high unemployment.

In terms of economics, stagflation, sometimes known as recession-inflation, is a state in which unemployment is consistently high, the economy is growing slowly, and the inflation rate is high or rising. When inflation and economic stagnation coexist, this is known as stagflation. The economy is in a state of stagnation due to rising unemployment.

The term "stagflation" was first used in the 1970s, a period of both high inflation and rising unemployment. Stagflation wasn't commonly acknowledged until the middle of the 20th century.

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Question 2 of 8
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Answer:

This type of income is known as non-operating income in the financial statements

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Non-operating income, as the world implies, is the income that a firm earns from activities that are not related to its main economic activity. An example would be a mall, whose main activity is the rental and management of commercial real estate, earning some income from short-term investments in the secondary market. This interest would be reported as non-operating income, and would be treated as such for financial, accounting, and tax purposes.

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