The adjusting entry that the company should pass at the end of the current year to record the bad debts expense:
Bad Debts Expense 16,900
Allowance for Doubtful Accounts 16,900
What is an allowance for doubtful accounts?A contra account called an allowance for doubtful accounts nets against the total receivables shown on the balance sheet to only show the amounts anticipated to be paid. The percentage of accounts receivable that are anticipated to be uncollectible is estimated by the allowance for doubtful accounts.
A negative balance in the allowance for doubtful accounts means that more accounts than anticipated have been written off. A contra asset account with a typical credit balance is the allowance for doubtful accounts.
Under the aging method, the adjusting entry for bad debt expense is calculated using the following formula:
Estimate of uncollectible accounts - (+) Current credit (debit) balance in the allowance for doubtful accounts = Bad debt expense
Hence, The adjusting entry that the company should pass at the end of the current year to record the bad debts expense is given above.
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"Your question is incomplete, probably the complete question/missing part is:"
Bad Debts Expense 16,500
Allowance for Doubtful Accounts 16,500
Bad Debts Expense 16,100
Allowance for Doubtful Accounts 16,100
Bad Debts Expense 16,900
Allowance for Doubtful Accounts 16,900
Accounts Receivable 16,500
Bad Debts Expense 400
Sales 16,900
Accounts Receivable 16,900
Allowance for Doubtful Accounts 16,900
economic integration agreements are informal blank institutions that rely on agreements among members, and their development has tended to follow a general pattern from free trade area through common market to economic integration.
It is an informal normative body based on agreements between member countries, and its development tends to follow a general pattern from free trade areas to common markets to economic integration.
Experts in the field have defined seven stages of economic integration. Preferential Trade Zones, Free Trade Zones, Customs Unions, Common Markets, Economic Unions, Economic, and Monetary Unions, and Full Economic Integration. Free trade agreements are the most common form of regional economic integration, accounting for nearly 90% of regional agreements.
Regional economic integration is the process by which two or more countries agree to remove economic barriers with the ultimate goal of increasing productivity and increasing economic interdependence.
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the service sector has lower productivity improvements than the manufacturing sector because
The service sector has lower productivity improvements than the manufacturing sector because the service sector is usually more labor intensive than the manufacturing sector
The service sector has lower productivity improvements than the manufacturing sector because the service sector is usually more labor intensive than the manufacturing sector. Productivity in the service sector is difficult to improve for a number of reasons as given below;
Service-sector work is labor intensive.In service sector, work is unique to each customer's demands. Work in the service sector often includes an intellectual task completed by professionals. Additionally, it can be difficult to mechanize and automate work in the service sector.The overall quality is also difficult to evaluate in the service sector.https://brainly.com/question/28460195
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The W-4 form lets...
A.) you know how much you paid in taxes last year
B.)your employer know how much to withhold from your paycheck
C.) the government know how much you paid in taxes last year
D.) the 3 major credit bureaus know how many dependents you have
Answer:
b
Explanation:
you fill it out so the employer knows what to with hold from your check
a building that does not contain enough business property for conducting business is considered vacant after:
Less than 31% of the total gross building square footage must be used for normal business activities or by the building owner to carry out normal business operations for a building to be deemed empty.
How Do You Define Commercial Real Estate (CRE)?
Commercial real estate (CRE) refers to real estate that is used solely for business-related purposes or to provide a workspace, as opposed to residential real estate, which would be used for a home. Typically, tenants who want to engage in revenue-generating activities are leased commercial real estate. One storefront to a sizable shopping mall can all fall under this broad category of real estate.
Various structures make up commercial real estate. It could be anything, including a restaurant, a warehouse, an office building, or even a duplex. By renting it out or keeping it and reselling it, individuals, businesses, and corporate interests can profit from commercial real estate.
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economists build economic models by group of answer choices generating data. conducting controlled experiments in a lab. making assumptions. reviewing statistical forecasts.
Economists make assumptions while making judgments to better understand how customers' and firms' behavior.
There are several economic theories that help to explain how economies function and how to maximize growth, income, and employment.
But many ideas revolve around preferences—that is, what businesses and customers like to have or prefer to avoid. Furthermore, assumptions frequently relate to the resources that can be used to satisfy preferences and wants. The availability or lack of resources has a profound impact on the choices that people who participate in an economy make. In order to create models that they can control, economists construct assumptions because they are unable to do so in the real world.
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when the government establishes a binding price floor on a good or service then there will be a. an increase in demand for the good or service b. a surplus because of the quantity demanded will decrease c. a shortage because the quantity supplied will decrease d. no incentive to place a tax on the good or service e. a decrease in the price once the market adjusts
When the government establishes a binding price floor on a good or service then there will be shortage because the quantity supplied will decrease
Therefore the correct option is A
Binding Price Floor
According to the Corporate Finance Institute, a binding price floor is when the government imposes a necessary price on an item or collection of goods at a price higher than equilibrium. The market for that good is constrained by that price since the government mandates that prices not fall below that level. Some people won't pay that price since the government has inflated it artificially. Unsold goods are the result, which leads to a surplus of that good. By enacting legislation, governments have the ability to artificially inflate the cost of specific items, induce economic unrest, and establish legally binding price floors for these goods. These regulations allow for the prohibition of the sale of goods at market prices or below the price floor.
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Question 4 of 10
On the pie chart below, which "slice" represents 30% of the budget?
A. 2
B. 3
C. 4
D. 1
On the pie chart below, the "slice" represents 30% of the budget is 4. Thus the correct option is C.
What is the significance of Budget making?A budget creation helps an individual to create an estimate about how much funds required for purchasing and helps to control the expenses of an individual by cutting out additional expenses.
In this pie chart, the circle is divided into four slices with a certain percentage where half of the slice is covered by 3rd slice so assuming it is 50%. So the second most larger percent remaining is slice 4 which is considered 30%.
Therefore, option C is appropriate.
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Answer: its C. 2
Explanation:
an investment property generates a cash flow of $420,000 and appraises for $8,800,000. what is the owner’s return on investment?
The owner’s return on investment is $4,583,000
Investment definition is an asset received or invested in to build wealth and keep money from the tough earned earnings or appreciation. funding that means is generally to reap a further source of profits or benefit take advantage of the funding over a selected period of time.
Making an investment is a powerful way to put your money to work and probably build wealth. smart investing may additionally allow your money to outpace inflation and boom in value. The greater growth potential of investing is primarily because of the power of compounding and the chance-go-back tradeoff.
Within the maximum sincere feel, investing works when you buy an asset at a low rate and promote it at a higher price. This sort of go back to your investment is called a capital benefit. earning returns with the aid of selling assets for a profit—or figuring out your capital profits—is one way to make cash investing.
$550,000 ÷ 0.12 = $4,583,000
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what is a career? question 1 options: work that is regularly done for pay a class that you take to prepare you for a job a single position that you hold throughout your life a pathway through your life made up of a progressive series of jobs
A career is: D. "a pathway through your life made up of a progressive series of jobs."
What is a career field?A career field can be defined as a series of sequential and related occupations (jobs) that make use of similar skills, and they typically lead to the short and long-term career goals of an individual such as an employee.
What is a career path?A career path can be defined as a sequence of jobs that make use of similar skills, which typically helps an individual (employee) to achieve his or her short and long-term career goals.
This ultimately implies that, the first job a graduate student secures after acquiring his or her first (bachelor) degree from a university would mark the start of a career path.
In this context, we can reasonably infer and logically deduce that a career refers to a pathway through a person's life made up of a progressive series of jobs.
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explain purpose of visual aids
for managers, the most important issue regarding job evaluation is the statistical validity of job evaluation.
The statement, for managers, the most important issue regarding job evaluation is the statistical validity of job evaluation, is false.
Job evaluation tends to help organizations in order to ensure employees equitable, fair, and consistent pay structure. Thus, it helps organizations in recruiting the right candidate for a job, devise a good wage, and correct placements of employees.
Job evaluation is an important HR management activity in order to line managers so that they understand the possible dangers associated with a job and by ensuring that the work is being done safely.
Hence, for managers, the most important issue regarding job evaluation cannot be just the statistical validity. So the statement is false.
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b. rational, self-interested government officials seeking more funding for mass transit through higher taxes should consider
Higher taxes is very unpopular and may result in losing the future elections.
Higher tax rate means decrease in the real income of the people. This will results in rising of the inflation as higher the tax rate the more will be the cost of production.
There will be many other consequences for the implication of higher tax rates such as people will not like that government anymore because very few people if comfortable in paying more taxes.
It will increase the gap between the rich and poor.
It may be possible that in future people will not prefer this government again for charging higher tax rates.
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mark values his drum set at $800, and ella values her guitar at $1,000. suppose that mark trades his drum set for ella's guitar.
Mark must value Ella's guitar for at least $800, and Ella must value Mark's drum set for at least $1000.
Drum kits come with a five-piece set, which consists of two tom-toms, a floor tom, a bass drum, and a snare drum, despite the fact that there is no original standard arrangement for drum sets.
However, drums are unquestionably among the hardest instruments to learn. Every instrument has a similar learning curve. Like anything worth learning, there is a certain learning curve, and it will require time, patience, and practice.
The quick answer is that most beginners need at least 4-6 months to become competent at playing the fundamentals of the drums. Even for the fastest learners, it often takes at least 10 to 12 months, if not more, to become a proficient drummer. It depends on a number of variables, the chief among which is how frequently you practice.
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One of your clients at wills trust and estate law pllc passed away his estate is worth $72,000 he leaves half to charity and 1/8 to each of his four children how much will each child receive
When one of your clients at Wills Trust and Estate Law Pllc passed away, he left behind an estate worth $72,000, of which he gave half to charity and one-eighth to each of his four children, giving each child a total of $9000.
Given, The worth of the estate = $72,000
The client leaves half of his estate to charity, and 1/8 to each of his four children.
The amount each of the child will receive = ?
$72000 x 1 / 8
= $9000
So, each child will receive $9,000.
The use of specific types of instruments, such as wills, living trusts, or charitable trusts, to make provisions for the equitable distribution of the estate's assets and the settlement of its debts and liabilities is governed by the law of estates and trusts. Estate planning attorneys frequently work closely with their clients over a long period of time and develop strong bonds with them. They are quite knowledgeable about the financial situations and family dynamics of their clientele. By assisting the client in resolving both financial and interpersonal concerns, the estate lawyer frequently transforms into a true family therapist.
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why might lucy choose to attend a four-year university rather than a technical school? financial literacy final exam
There are more possibilities and more opportunities to make money.
Earning potential frequently refers to the highest compensation possible in a given industry or career. The meaning is essentially the same in the world of money. Earning potential is the amount of money a person could make in comparison to the alternative.
Potential income can be defined as the amount you could make based on your employment, experience, work history, qualifications (including relevant certifications), earning prospects (like the current job market), location (where you live), and even where you invest current funds. In other words, your income today need not predict your income in the future.
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question 6 a data analyst has been invited to a meeting. they review the agenda and notice that their data analysis project is one of the topics that will be discussed. they plan to arrive on time and have a pen and paper to take notes. but they do not spend time considering project updates they could share or questions they may be asked. this is appropriate because they’re not the one running the meeting.
A meeting has been invited for a data analyst. When they look over the schedule, they see that one of the subjects up for discussion is their data analysis project. They have a pen and paper ready to take notes, and they want to come on time. However, they do not take the time to think about project updates or potential questions. Since they aren't in charge of the meeting, this is okay - False
What does an analyst of data do?
A data analyst examines data to find significant customer insights and potential uses for the information.
What are the abilities required to become data analyst?
You need excellent quantitative and analytical skills to succeed as a data analyst. To answer problems logically, you must be able to pay attention to detail. You must also be able to clearly explain your conclusions to others who will use them to make judgments.
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bailey et al. applies a functional-institution approach to explain the trade liberalization in america since the introduction of the reciprocal trade agreement act (rtaa) in 1934.
Bailey et al. apply a functional-institution approach to explain the trade liberalization in America since the introduction of the reciprocal trade agreement act (rtaa) in 1934. Yes, the given statement is true.
What is liberalization?1991 saw the liberalization of the Indian economy. A number of objectives, including modernization, a greater emphasis on capital and personal inflows, and the formation of a free market economy, were all achieved through economic reforms.
Simply described, liberalization is the process of removing constraints imposed by the government on social, political, and economic policies. The goal of economic policy liberalization is to increase the participation of the private sector by reducing the number of regulations and laws that are in place.
The liberalization process, which started as a result of the economic reforms of 1991, has some of the following characteristics:
License Raj, which had previously been in place, is revoked.A decrease in tariffs and interest rates was made.removing the existing monopolies held by the public sector across numerous economic sectorsA number of industries were approved for foreign investment.For more information on Liberalization, refer to the given link:
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Complete Question
Bailey et al. apply a functional-institution approach to explain the trade liberalization in America since the introduction of the reciprocal trade agreement act (rtaa) in 1934.
State whether the given statement is true or false.
a power company decides to use wind turbines to provide electricity instead of coal. which basic economic question does this decision answer in a free market economy?
How will goods or services be produced? is the basic basic economic question does this decision answer in a free market economy.
What is a Market economy?
In a market economy, firms and individuals interact to determine how much goods and services should cost and how to best allocate scarce resources. This word often refers to an economy that is more market oriented overall, however there may be some government intervention or central planning.
Classical economists like Adam Smith, David Ricardo, and Jean-Baptiste Say created the theoretical framework for market economies. These traditional liberal proponents of the free market thought that the "invisible hand" of the profit motive and market incentives typically led economic decisions in directions that were more productive and efficient than government economic planning.
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the unadjusted cash account balance for a company at december 31, 2009 is $15,926. the bank statement showed a balance of $17,700 on this same date. the following information is available: bank service charge $ 6 nsf check from customer $ 324 deposit in transit $ 1,576 in addition, two other items were discovered: 1) check
Bank service charges a $ 6 NSF check from the customer $ 324 deposit in transit $ 1,576 in addition, two other items were discovered
Solution:
Outstanding checks for the month of December
= Beginning outstanding checks + Checks written during December - Checks cleared during December
= 3,500+60,000-57,000 = 6,500
True cash balance on December 31
= Beginning bank balance + Deposits in transit - Outstanding checks for the month
= 20,700+1,576-6,500
= $15,776.
The unadjusted cash stability is diagnosed while the cash balance as in keeping with the ledger account and financial institution statement does not in shape. To reconcile the balances, the accountant verifies the transactions which can be both missing in the ledger or the bank declaration. the list of popular ledger account balances on the give-up of a reporting period before any adjusting entries are made to the balances to create monetary statements.
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what information is needed in order to be prepared for an emergency? select one or more: full inventory of all chemicals present in the lab understanding of where to go should an emergency occur contact information for emergency personnel location of all exits location of lab phone and first aid kit
The information that is needed in order to be prepared for an emergency:
Location of lab phone and first aid kitContact information for emergency personnelUnderstanding where to go should an emergency occurLocation of all exits.What do you mean by emergency?
A sudden, unexpected situation that necessitates taking immediate action is referred to as an emergency. An unexpected illness that requires medical attention is an example of an emergency. A downed power line that needs to be fixed in the middle of the night is an example of an emergency.
Hence, The information that is needed in order to be prepared for an emergency:
Location of lab phone and first aid kitContact information for emergency personnelUnderstanding where to go should an emergency occurLocation of all exits.learn more about emergency:
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the gardener's opportunity cost of a bushel of beans multiplied by her opportunity cost of a bushel of corn is
Answer: equal to one
Explanation: The opportunity cost of one bushel of beans in terms of bushels of corn will be the inverse of the opportunity cost of one bushel of corn in terms of bushel of beans. multiplying a number by its inverse equals one
The gardener's opportunity cost of a bushel of beans multiplied by her opportunity cost of a bushel of corn is equal to 1.
How to solve for the opportunity cost
We have that the garden can either produce 2 bushels of bean of 5 bushels of corn.
Hence we would have the opportunity cost of either items to be 2/5 for a bushel of bean and 5/2 for a 1 bushel of corn.
Hence when we multiply these values we would have 5/2 * 2/5
= 10/10
= 1
Hence the the gardener's opportunity cost of a bushel of beans multiplied by her opportunity cost of a bushel of corn is equal to 1.
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how local economic conditions affect school finances, teacher quality, and student achievement: evidence from the texas shale boom replication files
Local economic conditions affect school finances, teacher quality, and student achievement as if the economic condition is not good, highly educated teachers will not come to that place to teach students.
Influence of economic conditions.
Theoretically, it is unclear if improving local economic conditions influence student performance; this will rely on how schools use increased funds and how students and instructors react to increasing private sector pay.
With its significant and concentrated effects on wages and the tax base, the shale oil and gas drilling boom in Texas offers a singular chance to address this issue that cuts across public finance, labor markets, and education. Despite increasing the local tax base and generating a monetary windfall, the boom decreased test scores and student attendance.
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to address a vague, complex problem, a data analyst breaks it down into smaller steps. they use a process to help them recognize the current problem or situation, organize available information, reveal gaps and opportunities, and identify options. what does this scenario describe?
To address a vague, complex problem, a data analyst breaks it down into smaller steps.
They use a process to help them recognize the current problem or situation, organize available information, reveal gaps and opportunities, and identify options.
The above scenario describes structured thinking.
What are the elements of structured thinking?
Structured thinking involves identifying current problems or situations, organizing available information, identifying gaps and opportunities, and identifying opportunities.
How can structured thinking tools help us?Structured thinking is the process of framing unstructured problems. The framework not only helps analysts understand the problem at a macro level, but also helps identify areas that require deeper understanding.
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I give you a 1000 dollars, you invest in the a stock that gets 10 percent interest yearly, after 3 years how much money will you have??
abe receives a check from bea for fixing bea's car. bea's bank is bank b. abe deposits the check into his bank, bank a. select all the statements that correct describe the check-clearing process.
A bank creates new money each time it extends a loan by making a commensurate deposit in the borrower's account. In essence, whenever a bank makes a loan, money is created by some simple accounting and exists as bank deposits, or commercial banks' IOUs.
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you may have observed that items such as different brands of aspirin, tomato sauce, or gasoline are typically priced the same as each other. this is particularly true when consumers can find these goods in close proximity to each other. for example, prices are often the same at gas stations that are on opposite sides of the street. prices are also generally the same for products next to each other on the same grocery store shelf.
The aforementioned examples are goods that are likely to be Substitutes. You would expect the value of the cross-price elasticity to be Large because the opportunity cost of getting information on price is low.
What is cross-price?Cross-price elasticity quantifies how sensitive a product's demand is to a change in the price of the related product. Many products on the market have relationships with one another. This could imply that a product's price change could have a positive or negative impact on the demand for another product.
There are three categories of product relationships to look at when describing cross-price elasticity.
First, there are products that are closely related to one another and are occasionally referred to as substitutes. In the market, these products compete for the same consumers.
There are also goods that are consumed in combination. Demand for one product has a direct impact on how much-related products are consumed. They are referred to as complementary products.
Products in the final category are completely unrelated to one another. The consumption of these goods is unaffected by one another.
Business owners can strategically compete in their industry or stock their inventories by clearly understanding the ideas behind product relationships. For instance, lowering the cost of printers might result in more people buying toner and ink. The more printers people purchase, the more money is made by selling related goods.
Thus, cross-price is related to the sensitivity of demand for a product.
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Complete Question:
You may have observed that items such as different brands of aspirin, tomato sauce, or gasoline are typically priced the same as each other. This is particularly true when consumers can find these goods in close proximity to each other. For example, prices are often the same at gas stations that are on opposite sides of the street. Prices are also generally the same for products next to each other on the same grocery store shelf. The aforementioned examples are goods that are likely to be _________ You would expect the value of the cross-price elasticity to be_________ because the opportunity cost of getting information on price is low.
if the insured and primary beneficiary are both killed in the same accident and it cannot be determined who dies first
The Act mandates that the life insurance policy funds be paid as though the primary beneficiary had passed away first if the insured and insured both pass away in the same accident and there is no evidence that the beneficiary really outlived the insured.
Who is insured and beneficiary?An individual who has or is covered by an insurance policy is known as the insured. The recipient of a life insurance policy's or annuity's insurance proceeds is known as the beneficiary. It can also be used to describe someone who receives compensation for medical services as a result of their health insurance policy's benefits.
According to the Uniform Simultaneous Death Act, the insured will be assumed to have outlived the primary beneficiary unless a policy provision states otherwise if the insured and the primary beneficiary both pass away under circumstances that make it impossible to identify which one died first.
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the total amount earned in a paycheck before taxes are subtracted is a deduction the gross income a recession the net income
Out of the choices provided above, it can be stated that the total amount earned in a paycheck before taxes are subtracted is gross income. Therefore, the option B holds true.
What is the significance of gross income?The gross income of an individual can be referred to or considered as the income made on which no deductions or taxation have been subtracted. It is not the amount of disposable amount in the hands of an individual. It is the first point of the receipt of an income.
Therefore, the option B holds true and states regarding the significance of the gross income.
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WHAT THINGS MIGHT CAUSE DISPUTES IN A PARTNERSHIP?
One of the top causes of partnership disagreements is disputes about financial rights and obligations.
Answer:
jealousy and selfishness
aaron received a state income tax refund in 2021 for state taxes be overpaid in 2020. he was able to reduce his 2020 federal tax liability by itemizing and claiming a deduction for state and local income taxes paid that year. when aaron files his 2021 return, he may need to report all or part of the state tax refund he received in 2021 as
aaron received a state income tax refund in 2021 for state taxes be overpaid in 2020. he was able to reduce his 2020 federal tax liability by itemizing and claiming a deduction for state and local income taxes paid that year. when aaron files his 2021 return, he may need to report all or part of the state tax refund he received in 2021 as
A recaptured credit.
The capacity to obtain goods or services on credit is the ability to borrow money with the promise to repay it later. Creditors, which include lenders, merchants, and service providers, extend credit based on whether or not they have faith in your ability to repay the money you borrow plus any associated finance charges. Creditors in earlier eras might have evaluated your creditworthiness based only on your reputation. It is clear that this approach was arbitrary and vulnerable to manipulation, bias, and inaccuracy. Creditors today favour a more impartial strategy. In order to decide whether or not to grant you credit in the U.S., lenders normally look at your credit history—your track record of borrowing and repaying money—first. Your credit history is condensed in files called credit reports, which are created by three independent.
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