Answer: Please see the analysis below
Explanation: The following are the financial statement effects
Assets Liabilities Stockholders Equity Income Expense
Write-off of $10,000 - - Nil Nil Nil
Bad debt of $8,000 - + - - +
- Write-off of customer balances of $10,000 would lead to reduction in assets and also reduction in liabilities (since the provision for doubtful accounts reports to liabilities but mapped to the accounts receivable to show the net amount). Here, we have assumed that there is an existing allowance for doubtful accounts that has $10,000 buffer or more. If the write-off was not initially provided for, it would hit expense by debiting bad debt expense and crediting the accounts receivable. <em>Its effects are therefore decrease in asset, decrease in liabilities.</em>
- Bad debt expense of $8,000 affects the expense and the liabilities/assets. Journal entries to record the bad debt expense is Debit Bad debt expense $8,000; Credit Allowance for doubtful accounts $8,000. So, it affects the expense, liabilities and ultimately the assets (allowance for doubtful accounts is a contra to the accounts receivable). <em>Its effects are increase in expense, increase in liabilities, decrease in stockholders equity, decrease in income and decrease in assets</em>
They are both correct in this scenario. There are many ways that the oil can be distributed depending on how the company delivers the oil and systems. Engines are built differently depending on the specific needs, vehicles, operating systems.
2040 I think because 2 percent of 2000 is 40 so you add 2000+40 and you get 2040
Answer:
It is illegal for a U.S. corporation to bribe an official of a foreign government or political party to obtain or retain business in a foreign country.
Explanation:
Attempt to improve their own product. Companies "fight" in this way. by improving their products so that they are better
