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Vikki [24]
3 years ago
12

What is one difference between government corporations and government contractors? Government corporations are free to run their

operations in any way they choose while government contractors are heavily regulated. Government corporations are run directly by the government while government contractors are run independently. Government corporations are in the public sector while government contractors are in the private sector. Government corporations provide social services while government contractors produce public goods.
Business
1 answer:
mafiozo [28]3 years ago
8 0

Answer:

government corporation are in the public sector while government contractors are in the private sector

Explanation:

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During 2021, its first year of operations, a company provides services on account of $256,000. By the end of 2021, cash collecti
Vera_Pavlovna [14]

Answer:

The Record for the adjustment for uncollectible accounts on December 31, 2021 would be the following:

31/12/2021                                       Debit  Credit

Bad Debts Expense                  $   9,250.00  

Allowance for doubtful accounts              $  9,250.00

(To record bad debt expense)  

Explanation:

In order to Record the adjustment for uncollectible accounts on December 31, 2021 we would have to make the following calculation:

Bad Debts Expense=(services on account-cash collections)*11%

Bad Debts Expense=($256,000-$133,000)*11%

Bad Debts Expense=$13,5330

Therefore, the journal entry would be the following:

31/12/2021                                       Debit  Credit

Bad Debts Expense                  $   9,250.00  

Allowance for doubtful accounts              $  9,250.00

(To record bad debt expense)  

8 0
3 years ago
If the adjustment for accrued revenue is not recorded a.assets will be overstated. b.net income will be overstated. c.liabilitie
vagabundo [1.1K]

Answer:

The correct answer is d. net income will be understated.

Explanation:

The accumulated or accrued income will be represented by those that have been earned during a financial year but that have not been received or recorded in the payment, because the term has not yet expired. If they are not recognized within the accounting year, it is said that the income item is being underestimated, and for that reason the information in the financial statements is not being faithfully represented.

3 0
3 years ago
A new accountant at Larkspur, Inc. is trying to identify which of the amounts shown below should be reported as the current asse
muminat

Answer:

Cash and cash equivalents = $20,217

Explanation:

                          Larkspur Company

                    Cash and Cash Equivalent

Transaction No.      Particulars                           $          

1.                        Petty Cash Fund                          52

2.                       Treasury Bill                          10,200

3.                       Deposit-In-Transit                      255

                         Cash-in-Bank:

5.                       Checking account                   3,360

6.                       Savings account                      6,350

Total Cash & Cash Equivalent                        20,217

Transaction #4. Since it did not post during April, therefore, it could not be a cash item.

Transaction #7. It is an expense.

Transaction #8. IOU is a receivable.

5 0
3 years ago
Airline a and airline b are the two largest airlines in the country. the chief executive officer of airline a calls the chief ex
Sveta_85 [38]
I would say this type of arrangement between the two largest airlines could be considered a type of cartel whereby most or a high % of the airline passenger market is controlled mostly by two airlines so they think they can raise prices unilaterally.
4 0
4 years ago
Your uncle has said that if you agree to finish college he will give you equal payments of $2,000 at the end of each year for th
il63 [147K]

Answer:

the value of the payments today is 14,047

Explanation:

this problem can be solved applying the concept of annuity, keep in mind that an annuity is a formula which allows you to calculate the present value of future payments affected by an interest rate. by definition the present value of an annuity is given by:

a_{n} =P*\frac{1-(1+i)^{-n} }{i}

where a_{n} is the present value of the annuity, i is the interest rate for every period payment, n is the number of payments, and P is the regular amount paid. so applying to this particular problem, we have:

a_{10} =2,000*\frac{1-(1+0.07)^{-10} }{0.07}

a_{10} =14,047

5 0
3 years ago
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