Answer:
Accounting information identifies, records and communicates information about a business.
Explanation:
The accounting information identified the business records and communicate the business information to the insiders and outsiders also it does not have any effect on everyone except the stakeholders. In addition to this, it is not depend upon the valuation made for the stock market
So as per the given situation, the above statement should be correct
Answer:
Journal Entry
Dr. Bad Debt Expense $16,835
Cr. Allowance for Doubtful Accounts $16,835
Explanation:
Allowance for Doubtful Accounts is normally has credit balance because it is a contra asset account which is adjusted against the Account Receivable. As per given data the Allowance for Doubtful Accounts has debit balance. At the end of the year this account should show the credit balance by 3.5% of Closing receivables. So, we need to adjust this debit balance and the 3.5% Allowance for the year as well.
Allowance for the year = Accounts receivable balance x 3.5% = $ 443,000 x 3.5% = $15,505
Expense for the year = $15,505 + 1,330 = $16,835
Answer:
23.275 years
Explanation:
Given:
Present value or the amount invested = $ 300,000
Rate = 6% compounded quarterly
i.e the rate of return quarterly will be = 6% / 4 = 1.5%
Quarterly payment = $ 6,000
Annuity = $ 0
Now,
Present value of annuity = Part payment × ()
where,
n is the number of quarters
on substituting the values in the formula, we get
$ 300,000 = $ 6000 × ()
or
50 × 0.015 = ()
or
= 1 - 0.75
or
4 =
taking log both the sides
we get
log 4 = n × log 1.015
or
0.602 = n × 0.0064
or
n = 93.101 quarters
or
n = 93.101 / 4 = 23.275 years
Answer:
$45 trillion.
<u><em>Explain:</em></u>
The balance between total revenue and the dollar amount of total output arises from the role performed by profit. Profit works as a leftover from cumulative business acquisitions after all other expenses such as long dash wages or dash labor, rents, interests have to be paid. If the dollar value of total output is $500, and the total expenses for producing the output is $450, there is an economic profit of $50. Hence, total income must meet the value of the total output. Therefore, I can say that if one group of people spend, another combination of individuals will realize a profit.
Explanation: