Answer:
Foster Inc.'s assets will decrease by a net amount of $30,000.
The Company's liabilities will increase by $30,000.
Explanation:
The price of the assert is $5,000 + $30,000 = $35,000
this means that the company's fixed assets will increase by $35,000, but since cash is decreasing by $5,000, the net change will be only $30,000
the amount of the loan = $30,000
this means that the company's liabilities will increase by $30,000
Videotapes, Physical evidence (something with possible DNA), Pictures.
Answer:. ............$
1. Bad debt Dr. 11.0000
Account receivable Or. 11.000
Narration: Bad debts writing off debtors
2. Cash/Bank. Dr 1800
Profit or loss Cr. 1800
Narration. Bad debt previously written off recovered
3. Profit or loss Dr 4000
Allowance for doubtful debts Cr
4000
Narration. Increase in provision for doubtful debts.
Answer: $65
Explanation: Under the FIFO method, that is, first in first out method inventory is recorded on the assumption that the goods that were purchased first will also be sold first and the remaining inventory will have the latest purchased units.
So, in the given question the two units sold would be costing $80 and $95
Hence,
Gross profit = $240 - ($80 + $95)
= $65
