The allowance for doubtful accounts is reported as a(n) _________

Grouper Architects incorporated as licensed architects on April 1, 2022. During the first month of the operation of the business

gladu [14]

Answer:

April 1.

Cash $22,410 (debit)

Common Stock $22,410 (credit)

April 1.

Salaries Expense $1,868 (debit)

Salaries Payable $1,868 (credit)

April 2.

Rent Expense $1,120 (debit)

Cash $1,120 (credit)

April 3.

Supplies $1,618 (debit)

Account Payable : Burmingham Company $1,618 (credit)

April 10.

Accounts Receivables $2,365 (debit)

Service Revenue $2,365 (credit)

April 11.

Cash $871 (debit)

Unearned Revenue $871 (credit)

April 20.

Cash $3,486 (debit)

Service Revenue $3,486 (credit)

April 30.

Salaries Payable $1,868 (debit)

Cash $1,868 (credit)

April 1.

Account Payable : Burmingham Company $1,618 (debit)

Cash $1,618 (credit)

Explanation:

Note the following :

1.Revenue received but not earned is recorded in a liability account known as Unearned Revenue.This account will subsequently be de-recognized as the revenue is earned.

2. When the Suppliers are paid amounts owing to them, de-recognize the Accounts Payable Account of those suppliers and also de-recognize the Cash Assets.

5 0

2 years ago

In the leadershio grid employees preferred which of the following styles?

Greeley [361]

Answer:

C. middle of the road management

Explanation:

Leadership grid refers to a situation when a leader put too much emphasize on one part of the operation while neglecting the others. In the end, this will reduce the overall's productivity.

Example of leadership Grid:

When managers force the employees to work overly long hours every day because they believe it will bring more profit for the company. But in the end, the employees felt a burn out and many of them eventually quit or become too tired to be fully productive.

To handle leaderships grid, middle of the road management tend to be preferred.

The reason for this is that middle of the road management tend to implement balanced concern between the business and the people who work in it. This management will create a schedule that allow the employees to fulfill the needs in their personal life and career. In the long run, this will create a positive environment in the workplace and improve the productivity as a whole.

3 0

3 years ago

Country a specializes in the production of rice because it can do so efficiently, but it imports electronics because it is not a

Firdavs [7]

It's an example of, Factors such as domestic demand and domestic rivalry explaining nations' dominance in production.

Domestic demand forecast. Final domestic demand is the total of ultimate consumption, investment associate degreed stock building expenditures by the personal and general government sectors in real terms. Total Domestic Demand (TDD) is the Final Domestic Demand and the worth of physical changes in stocks. TDD contains several of the weather accustomed calculate Gross Domestic Product (GDP) by the Expenditure Method, and then it's an indicator of what proportion the economy as an entire is growing.

The total quantity of cash that's spent on merchandise and services by the people, companies, and government in a selected country, or that may be spent if the goods and services were available: increased/growing/falling domestic demand. A life of spending. Specifically, the total of ultimate consumption, investment, and stock-building expenditures, by each person and government sector.

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3 0

9 months ago

Which of these describes one function of a household in the economy? buys finished products sells finished products taxes finish

Oksana_A [137]

The function of a household in the economy is the buys finished goods.

<h3 /><h3>How do household impact the economy?</h3>

Through their basic and daily needs for the maintenance of quality of life, families drive the economy through their purchase needs and desires, generating demand for products and services.

Therefore, households impact the economy by determining demand that will drive supply.

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3 0

1 year ago

Production Budget Pasadena Candle Inc. projected sales of 64,000 candles for January. The estimated January 1 inventory is 2,600

icang [17]

Answer:

Production budget:

Projected sales= 64,000

Ending inventory= 7,000

Beginning inventory= (2,600)

Total= 68,400 units

Explanation:

Giving the following information:

Pasadena Candle Inc. projected sales of 64,000 candles for January. The estimated January 1 inventory is 2,600 units, and the desired January 31 inventory is 7,000 units.

Production budget= projected sales + ending inventory - beginning inventory

Production budget:

Projected sales= 64,000

Ending inventory= 7,000

Beginning inventory= (2,600)

Total= 68,400 units

3 0

3 years ago

The allowance for doubtful accounts is reported as a(n) __________ on the balance sheet.