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
Answer:
People can be marginalised due to multiple factors, like gender, geography, ethnicity, religion, displacement, conflict or disability. Poverty is both a consequence and a cause of being marginalised.
For example you can take adivasis
Adivasis are becoming increasingly marginalised because they are losing their lands and access to the forests. Due to these things they lose their main sources of livelihood and food.
Answer:
TRUE
Explanation:
A potential obligation that depends on the future outcome of past events is a contingent liability!
- An obligation is something that is to be done
- A potential obligation is a thing or activity that is among the options of stuff that can be done
- When something depends on the future outcome of past events, it introduces or carries with it, the cost of waiting (for future outcomes)
- A contingent liability is something that poses probability of loss instead of gain. The opposite of liability is asset.
So in business, a potential obligation or action that depends on the future outcome of past events is a contingent loss rather than gain.
Answer:
1 Required: 1-a. Prepare an adjusted trial balance at September 30, 2018.
Explanation:
Starbooks
Adjusted trial balance
d Cash $ 295
d Account receivable $ 295
d Supplies $ 495
d Equipment $ 3.195
c Accumulate depreciation $ 895
d Prepaid Rent $ 95
c Account Payable $ 595
c Notes Payable (short-term) $ 495
c Deferred Revenue $ 195
c Notes Payable (long-term) $ 195
c Common Stock $ 195
c Retained Earnings $ 1.495
c Service Revenue $ 6.185
c Interest Revenue $ 95
d Salaries Expense $ 2.195
d Depreciation Expense $ 295
d Income Tax Expense $ 295
d Rent Expense $ 395
d Supplies Expense $ 195
d Travel Expense $ 2.595
Total $ 10.345 $ 10.345