Answer:
$19
Explanation:
The computation of the financial advantage or disadvantage is shown below:
= Sale value after processed further - cost of processed further - sale value without processed further
= $91 - $29 - $43
= $19
Simply we deducted the cost of processed further and the sale value without processed further from the Sale value after processed further so that the correct amount can come
All other information which is given is not relevant. Hence, ignored it
Answer:
Debit Cash $20,000
Credit M. Alice capital $20,000
Explanation:
We recognize the admission of new partner by debiting the cash that the partnership received in the amount of $20,000 and then record the interest of the new partner by crediting her capital, M. Alice, capital $20,000. Basically, the old partners will agree as to what amount of interest that the new partner will be credited to the partnership. But in this scenario, the problem is silent as to the agreement of interest that M. Alice will be credited, in effect, the books will recognize M. Alice' interest equal to the cash she invested to the partnership.
Answer:
- What is the amount of bad debt expense?
Bad debt expense $ 90
Explanation:
The initial account balance was
Accounts Receivable $ 10,000
Allowance for Uncollectible Accounts $ 100
The aging of accounts receivable method indicates that the Allowance for Uncollectible Accounts must have a $190 balance.
Acc. Rec Allow.
$ 9,000 $ 90 1% 1-30 days
$ 1,000 $ 100 10% more than 30 days
$ 10,000 $ 190
The journal entry adjustment add up to the balance of Allowance for Uncollectible Accounts to complete the $190 indicated by the aging of accounts receivable method.
Bad debt expense $ 90
Allowance for Uncollectible Accounts $ 90
- So the final balance of accounts are:
Final Balance
Accounts Receivable $ 10,000
Allowance for Uncollectible Accounts $ 190
Answer: E) Recoding
Explanation:
Recoding refers to the changing of a variable to better suit the needs for which the variable is being collected.
The variable's parameters can be redefined using recoding to either include more information or less so that the result can be more reflective of the situation on ground.
In mixing the lowest income category with the next lowest, recoding would have occurred.
Answer: Party B
Explanation:
Even though verbal agreements are enforceable by law, written agreements take precedent because they are more explicit than verbal agreements.
The written agreement will therefore be followed in this case and according to this agreement, A will be punished for the proposed action.
If A had tangible proof that a subsequent agreement was reached that would void them of said punishment, they should present it. If they do not, B would prevail.
