The amount that should be debited to Bad Debts Expense, assuming 3% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible is $1,913
<h3>What is bad debts expenses?</h3>
Bad debt are debts owned to a business which cannot be recovered. Here, the customer has chosen not to pay this amount.
Computation of amount to be debited to Bad Debts Expense:
= Accounts Receivable, debit balance of $97,800 * 3% of outstanding accounts receivable at the end of the current year
= $97,800 * 3%
= $2,934
Then,
= $2,934 - $1,021
= $1,913
Hence, the amount that should be debited to Bad Debts Expense, assuming 3% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible is $1,913
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Answer:
Polo will report $318,750 as its investment in Stallion at December 31, 20X8
Explanation:
Common stock = $300,000 acquired at 75%
Net income = $40,000
Pay dividends = $10,000
Increase in value of Patent = $50,000
Economic Life = 10
Amortization = $5,000
Therefore, the $ 5000 would be reduced from the net income.
Investments in Polo = $300,000 + [0.75 × (40000 - 10000 - 5000)]
= $300,000+ 0.75(25,000)
= $300,000+ $18,750
= $318,750
Answer: Economics is the study of how society uses its limited resources. Economics is a social science that deals with the production, distribution, and consumption of goods and services.
Explanation:
Answer:
Option (B) is the right answer.
Explanation:
According to the investment company Act of 1940, the investment companies are those companies whose main business is to gathers investment capital to invest them in marketable securities.
Hence According to the scenario, the most appropriate answer is option (B).
While the other option is incorrect because of the following reason:
- Brokers/dealers can not be considered as an investment company because they are not the company.
- Pooled investments in metals are not an investment company but considered as the commodity pool.
- Insurance companies are also not investment companies.
The International Energy Agency provides insights into energy use and carbon emissions for the future in the form of exploring different scenarios, which are not actual projections.
<h3 /><h3>What are the goals of the IEA?</h3>
The agency aims to disseminate information and support global efforts to transition from clean and renewable energy use, in order to reduce the impacts of non-renewable energy on the environment and climate.
Therefore, the IEA uses an approach to identify future trends on the sustainable energy transition, and is not really a tool for forecasting the future of global energy.
Find out more about renewable energy here:
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