Answer:
Unrealized gains and losses treatment:
Available for sale - recorded in OCI
Held till maturity - not recognized in financial statements until maturity
Held for Trading - Fair value through profit and loss
Explanation:
There are three categories of financial instruments. Available for Sale AFS, Held for trading HFT and Held till maturity HTM. Financial instruments are classified in these categories and then treatments is according to their classification. IAS 39 and IFRS 9 have provided complete guidelines for the treatment of the financial securities.
Deadweight loss is a type of economic inefficiency when a good or service is not at its economic equilibrium (where supply equals demand). This loss may be experienced because of a tax or subsidy, or because of market power, such as a monopoly. Economists refer to deadweight loss when they want to show the negative effects of certain policy decisions that are less than optimal.
Find the attachments sequence wise for complete solution
Answer:
It can be very difficult for citizens to start private businesses. Citizens must pay for most basic necessities by themselves. There is no guarantee of steady employment for many citizens. Citizens may pay higher taxes than in other economic systems.
Explanation:
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Answer:
A. $2,800
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
Amount assessed to be uncollectible
= 4% × $90,000
= $3,600
Additional Amount to be allowed for
= $3,600 - $800
= $2,800
This will be posted as debit to bad debt and a credit to allowance for doubtful debts account.
