Answer: The account has a normal credit balance and is reported on the balance sheet.
Explanation:
The allowance for doubtful accounts refers to the amount of account receivable that the company believes will not be paid by the customers. It is referred to as the bad debt reserve as well.
The allowance for doubtful accounts reduces the accounts receivable. It also has a normal credit balance and is reported on the balance sheet.
Hey there,
The answer is B, <span>Behavioral interview
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Answer:
$4,455
Explanation:
The computation of total decrease in earnings (pretax) in Morris Dec. 31, 2021, income statement is given below:-
Interest expense upto 31 Dec 2021 = (Total present value of lease payment - Lease payment on July 1, 2021) × 6% × 6 ÷ 12
= ($58,500 - $7,500) × 6% × 6 ÷ 12
= $51,000 × 6% × 6 ÷ 12
= $1,530
Depreciation expense upto 31 Dec 2021 = Fair value of equipment ÷ Useful life × 6 ÷ 12
= $58,500 ÷ 10 × 6 ÷ 12
= $5,850 × 6 ÷ 12
= $2,925
So, the total decrease in earnings (pretax) in Morris Dec. 31, 2021, income statement = Interest expense upto 31 Dec 2021 + Depreciation expense upto 31 Dec 2021
= $1,530 + $2,925
= $4,455
Answer:
a. The purchase of tutoring services from a tutor who holds citizenship outside the country but resides within the country
Explanation:
Gross domestic product knowns as GDP provide the total market value of all produced goods/service in a country within particular period of time. It allows to know the Economic growth rate of a particular country.
GDP can be analysed an calculated using three most common ways ;it can be through
1)expenditures
2)production
3) incomes.
It can be calculated by by the summation of all money spent by government or consumer at a particular period of time. Hence nominal GDP is the value.It gives measures on production. It should be noted that The purchase of tutoring services from a tutor who holds citizenship outside the country but resides within the country is included in the calculation of GDP.
The Federal Reserve or also known as the Fed, serves as the bank of the United States, and therefore, it is responsible for any financial transaction that occurs within the economy of the United States. So, in the given statements above, I can say that the roles that Fed plays are the following: regulate the banking industry, and transfers any profits to the Treasury.
