Answer:
Dr Bad Debt Expense 16,120
Cr Allowance for Uncollectible Accounts 16,120
Explanation:
Based on the information given we were told that the company provides services of the amount of $255,000 in which the cash collections on the accounts was the amount of $131,000 and 13% of accounts receivable will be uncollectible which means that the adjusting Journal entry for uncollectible accounts on December 31, 2021 will be :
Preparation of the adjusting Journal entry for uncollectible accounts on December 31, 2021.
December 31,2021
Dr Bad Debt Expense 16,120
Cr Allowance for Uncollectible Accounts 16,120
[($255,000-$131,000)*13%]
$124,000*13%
=$16,120
Market failure occurs when a free market is unable to A) distribute resources efficiently.
Answer:
True
Explanation:
Intel is a major computer hardware supplier in the world, and its friend Microsoft buys hardware parts from them which it uses in manufacturing computers such as processor chips.
In respect to the bargaining power of suppliers in Porter's five forces model of industry competition, Intel acts as a supplier to Microsoft. And because of Intel's bargaining power like its market dominance and limited competitors, it can set prices which the–Microsoft has no choice but to purchase.
Answer: Financial
Explanation:
During the process of buying assets with longer life span, such as stock trailers, most organizations make use of cash gotten during financial activities to foot the bills, while cash accrued during operational activities are rather used to buy assets with shorter life span. Generally during the time of investing there is always decrease in excess cash as to supplying cash for some other activities.
