Answer:
Increase the currency-deposit ratio
Decrease money supply
Explanation:
The federal government made the move in order to balance their budget with he notion that with the introduction of the 2 cents on every bank cheques, it will dissuade people from doing bank deposit and switch to currency which will inturn reduce money supply.
Answer:
$1400
Explanation:
Accumulated depreciation is the total depreciation of an asset and is recorded on the balance sheet while the depreciation expense is recorded on the income statement as an expense.
The depreciation expense is the difference between the accumulated depreciation at the end and the accumulated depreciation at the beginning. It is given as:
Depreciation expense = accumulated depreciation at the end - accumulated depreciation at the beginning = $10700 - $9300 = $1400
Depreciation expense = $1400
Answer:
A. $800
Explanation:
Ana Co.
Sales $500,000
Accounts Receivable $40,000
Allowance for doubtful accounts $300 Credit
Bad Debts Expense = 2 % of $ 40,000= $ 800
The adjusting entry would be
Bad Debts Expense $ 800 Dr.
Allowance for doubtful accounts $800 Credit
As we already have a credit balance of $ 300 in the doubtful accounts we will increase it with an amount of $ 500.
Allowance for Doubtful Accounts $ 500 Debit
Account Receivable $ 500 Credit
Answer:
A. Limited liability.
Explanation:
The limited Liabilities company's protects their members and managers.
It protects their personal assets from the business liabilities.
The laiblities of the business will be settle with the busieness assets. IF there are no more assets, then debts defaults and become uncollectible.
Answer:
The form of business organization in the United States which comprises about 18% are corporations.
Explanation:
According to the data presented in the attached figure it is clearly seen that the percentage of corporations in the United States is 18%. The percentage of Joint Ventures and Syndicates is a lot less while that of partnerships and sole proprietorships is higher.
