Answer:
a. Journal entries to record the reinstatement of the account receivable
Account Title and Description Debit Credit
Account receivable account $600
Allowance for Doubtful Accounts account $600
(Reinstatement of the account receivable)
b. Journal entries to record the receipt of cash
Account Title and Description Debit Credit
Bank Account $600
Account receivable account $600
(Receipt of cash)
Answer:
1- The UCC contract formation includes offer, acceptance and consideration.
Explanation:
Elements "Offer" and "Acceptance" together form mutual assent. Also, in order to be enforceable, the contract must be for a legal purpose and parties to the contract must have capacity to enter into the contract, that part is related to consideration.
Offer → gives power of acceptance to another party, besides it includes the agreement´s essential elements (they have to be definite and certain).
Acceptance → must be a mirror image of the offer.
Consideration → All common-law contract must contain this element as a valid one. It means that there must be a bargained for interexchange of acts or promises, both parties incurring new legal detriment or obligations as a consequence of the contract.
Answer: True
Explanation:
Something that has caught the attention of many has been how electronic money has been used in countries like Kenya and Somalia. A study has confirmed that the use of mobile money has reduced poverty in places like Kenya. Mobile money is defined as money where people can make financial transactions through their phones.
This type of activity has greatly influenced poverty reduction and the high rates that occurred when people had to send money over certain distances. In countries like Somalia, there are no longer any traces of physical money, everything is virtual. In this way, the country has achieved economic stability for years. People increasingly consume through their mobile phones, making in an easier way all kind of payments.
Answer:
4,838,400
Explanation:
Assume there are already Two sets of machine working.
In the first set, there is 5 machine Operates and in another set, There are 8 machines (13-5) operates.
So Total Production sequence = First sets all combinations x Second sets all combination
= 5! x 8!
= ( 5 x 4 x 3 x 2 x 1 ) x ( 8 x 7 x 6 x 5 x 4 x 3 x 2 x 1 )
= 120 x 40,320
= 4,838,400
So , total number of machine combination is 4,838,400.
The amount of his monthly net cash flow is the best example of qualitative information
The choice usefulness, decision model approach to accounting theory plays a significant supportive role in the utilization of qualitative traits or qualities required for information. The attributes that make the data supplied in financial statements valuable to users are referred to as qualitative qualities.
Fundamental qualitative traits that are desired in accounting information are produced by the demand for accounting information from investors, lenders, creditors, etc. Accounting information has six distinct qualitative traits.
To lean more about qualitative refer here:
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