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spin [16.1K]
3 years ago
11

When an account previously written off is collected in full, which is required to ensure the accounting for the complete payment

history of the customer?.
Business
1 answer:
Lyrx [107]3 years ago
4 0

When a bad debt is written off, the thing that should be fine is an entry to reinstate the account receivable and and entry to record payment.

<h3>What is a bad debt?</h3>

A bad debt simply means an uncollectible account expense that's unlikely to be paid by a debtor.

When an account previously written off is collected in full, to ensure the accounting for the complete payment history of the customer, it's important to reinstate the account receivable and and entry to record payment.

Learn more about bad debt on:

brainly.com/question/24871617

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Desired consumption is Cd = 100 + 0.8Y - 500r - 0.5G, and desired investment is Id = 100 - 500r. Real money demand is Md/P = Y -
allochka39001 [22]

Answer:

Under a) r=0.1;Id=50;Cd=750;P=7 b) P only changes and is now 9.33

Explanation:

a)  In a closed economy national savings are equal to investments or:

S d = I d = Y - Cd - G

Id = Y - 100 - 0.8*Y + 500*r - 0.5*G

100 - 500*r = 0.2*Y -100 + 500*r -0.5*G

200 - 1000*r = 0.2*1000 - 0.5*200=100

-1000*r=-100

r= 0.1

i = 0.15

Id = 100 -50 =50

Cd= 100 + 800 - 50 - 100=750

P = Md/Y-2000 i

P= 2100/1000 -300=7

b) If money supply increases to 2800, the price level would be:

P = 2800/Y - 2000*i = 2800/Y- 2000*(i-inflation)

However, since the variables determining real interest rate remained the same, r is also the same or 0.1 and i is 0.15. Consumption and investment remain the same, only price level changes or:

P=9.33  

4 0
3 years ago
Liabilities of the commercial banking system include rev: 06_06_2018 Multiple Choice loans and deposits. reserves and loans. res
Zolol [24]

Answer:

deposits.

Explanation:

The liabilities of the commercial banking system involves capital that includes cash reserves, deposited, debts, checking, saving amount,

The deposits could be in terms of saving deposit, fixed deposits, etc

Therefore in the given case,  the deposits are the commercial banking liabilities and the rest options like loan & deposits, reserve and loans, etc are not the liabilities so these are wrong options.

7 0
3 years ago
2. What would you say to some who said that citizens had no right to know where their federal income tax money goes?
DochEvi [55]

Federal tax dollars are collected from citizens to use for programs and infrastructure that is supposed to be used for public good, such as early childhood education, social security, roads, bridges, etc. Since the money is from citizens and for citizens, they should know how the money is spent so they can hold their elected representative accountable.

4 0
3 years ago
DON Corp. is contemplating the purchase of a machine that will produce net after-tax cash savings of $20,000 per year for five y
Allushta [10]

Answer:

$74,932.66

Explanation:

Present value is the sum of discounted cash flows.

Present value can be calculated using a financial calculator

Cash flow from year 1 to 4 = $20,000

Cash flow in year 5 = $25,000

I = 12%

Present value = $74,932.66

To find the PV using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

I hope my answer helps you

3 0
3 years ago
Forms of Business Organization
chubhunter [2.5K]

Answer:

<h2>Forms of Business Organization </h2>

1. The basic concepts of financial management are the same for all businesses, regardless of how they are organized. However, a firm's legal structure affects its operations.

The main forms of business organizations are: (1) proprietorships, (2) partnerships, (3) corporations, and (4) limited liability companies (LLCs) and limited liability partnerships (LLPs). In terms of numbers, most businesses are______proprietorships_. However, based on the dollar value of sales, most business is done by_corporations____.

Businesses are frequently started as__Limited Liability Companies____and then converted to_Corporations_____when their growth results in disadvantages outweighing advantages.

2. A proprietorship has three important advantages: (1) It is easily and inexpensively formed, (2) it is subject to_less____government regulations, and (3) it is subject to lower income taxes than are_corporations_____.

However, a proprietorship also has three important limitations: (1) A proprietor has_unlimited_____personal liability for the business' debts. (2) The life of the business is limited to the life of the individual who created it. (3) A proprietorship has difficulty obtaining large sums of capital so proprietorships are used primarily for small businesses.

3. A partnership has two important advantages: (1) It is easily and inexpensively formed and (2) its income is allocated on a pro rate basis to partners and taxed on a(n)_individual____basis so the partnership avoids higher_corporate____income taxes. A partnership has four important disadvantages: (1)_Unlimited_____personal liability, (2)_Limited____life, (3) difficulty of transferring ownership, and (4) difficulty of raising large amounts of capital.

4. A corporation has the following advantages: (1)_Unlimited____life, (2) ownership that is easily transferred through the exchange of stock, (3)_Limited____liability, and (4) can_easily_____raise large amounts of capital to operate large businesses. Its disadvantages are: (1) Corporate earnings may be subject to_corporate_____taxation and (2) setting up a corporation and filing required state and federal reports is complex. Large corporations are known as C corporations. However, as an aid to small businesses Congress created S corporations.

5. Limited liability corporations (LLCs) and limited liability partnerships (LLPs) have limited liability protection like_corporations_____but are taxed like__proprietorships____. Investors in an LLC or LLP have votes in proportion to their ownership interest. LLCs and LLPs have been gaining in popularity, but large companies still find it advantageous to be_formed into_____corporations because of advantages in raising capital for growth.

Explanation:

The above are forms of business organization through which investors can realize their investment dreams.

6 0
3 years ago
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