Answer:
over population and the consequences are limited space, global warming, and more poor people
Answer:
c
Explanation:
they all look forward to gain profit
Answer:
The dollar amount that should be credited to Allowance for Uncollectible Accounts at year end is $ 12,100
Explanation:
Providing allowance for doubtful debts
A provision is made for the debts which are likely to be uncollectable by a company.This amount is used to adjast the Trade Receivable balances to show a faithful representation of assets a beusiness has at end of year.
Calculations
<em>December 31, 2018 Arundel Company`s Allowance for Doubtful debts is calculated as follows</em>
Credit Sales × % of allowed provision
$805,000 × 2.0%
$16,100
<em>Adjastment to be done in Allowance for Doubtful Debts Account:</em>
<em>Hint : Open Allowance for Doubtful Debts T Account:</em>
<u>Credits :</u>
Opening Balances 4,000
Balancing Figure (Profit and Loss) 12,100
Totals 16,100
<u>Debit:</u>
Closing Balance 16,100
Totals 16,100
Answer: C. $150,000 credit
Explanation:
In the financial statements for year 2, it should be noted that the year 1 retained earnings balance, should be adjusted by $150,000 credit.
The corrections of errors should be treated as the period adjustments before. In this case, the $150,000 overstatement for the cost of goods that was sold in the previous year, will then be credited to the beginning balance of the retained earnings.
Therefore, the correct option is C.
Lupe entered her paycheck in the wrong column. She also forgot to record one of her purchases.
