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11Alexandr11 [23.1K]
3 years ago
15

Indicate the accounts affected and enter decreases to account categories with a minus sign. a. At the end of the period, bad deb

t expense is estimated to be $15,000. b. During the period, bad debts are written off in the amount of $9,500.
Business
1 answer:
EastWind [94]3 years ago
5 0

Answer:

Explanation:

a. At the end of the period, bad debt expense is estimated to be $15,000.

b. During the period, bad debts are written off in the amount of $9,500.

  Assets          =                             Liabilities    +     Stockholder's Equity

a.

                                                                               Retained Earning -$15,000

Account Receivable  -$15,000

b.

Allowance for Doubtful Account -$9,500

Account Receivable -$9,500

(Allowance for Doubtful Account is a contra account to account receivable decrease in this account will ultimately increase the assets value.

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Madison Finance has a total of $20 million earmarked for homeowner loans and auto loans, where x is homeowner loans in millions
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Answer:

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3 years ago
A $250,000 loan is to be amortized over 8 years, with annual end-of-year payments. Which of these statements is CORRECT? a. If t
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Answer:

The answer is "Option b".

Explanation:

In this scenario, the second option, which would be the percentage within each transaction that's also interest instead of the full amount, would've been lower if the rate of interest were lower because interest-related transactions would have been higher at lower rates and conversely, as opposed to the main refunds.

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10. Crowding out effect Suppose economists observe that an increase in government spending of $13 billion raises the total deman
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Answer:

Explanation:

Effect of crowding out:

The crowding out phenomena describes the economic phenomena in which an increase in government public spending leads to reduced or perhaps may eliminate of private investment.

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Given that:

$13 billion increase in government spending will lead to a $52 billion

The rise in demand for goods & service will be the value of multiplier which is

= 52/13

= 4

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4 = 1/(1 - MPC)

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6 0
3 years ago
On March​ 15, Maxwell Plush sold and shipped merchandise on account for​ $6,000 to Kittson Amusement​ Park, terms FOB shipping​
a_sh-v [17]

Answer:

(a)- Its assets will​ increase, as will its equity

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The sale is thus completed. The revenue can be recognize thus, increasing the company's equity and assets.

Account receivable(+Assets)     debit

             Sales Revenue(+Equity)           credit

8 0
3 years ago
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