Answer:
$503
Explanation:
The computation of the adjusted cash balance is shown below:
As we know that
Adjusted cash balance is = Cash ending balance - NSF Checks - Service charge
= $660 - $130 - $27
= $503
And we do not considered the other two items as they are not impact the cash balance
Basically we applied the above formula
keep trying and call every once or twice a time in the week
Answer:
Bad Debt Expense Dr. $28050
Allowance for Uncollectible accounts Cr. $28050
Explanation:
given data
credit sales = $620,000
accounts receivable = $320,000
past due = $55,000
credit balance = $2,600
rate = 7 %
rate = 22 %
solution
so here Not yet past due is = $320,000 - $55,000 -
Not yet past due = $265,000
and
past due = $55,000
so Required provision is
Required provision = $265,000 × 7 % + $55,000 × 22 %
Required provision = $30650
and
Opening balance is $2,600
so
Required expense for year = $30650 - $2,600
Required expense for year = $28050
so here
correct entry is
Bad Debt Expense Dr. $28050
Allowance for Uncollectible accounts Cr. $28050
Answer:
The correct answer is A) Lend support to the invisible hand by maintaining property rights and political stability
.
Explanation:
The absence of the government in legislative tasks related to the market is, therefore, one of the main bases of the economic theory developed by Adam Smith throughout his bibliographical work. For Smith, the leaders must deal with other areas of control more focused on defense or justice, leaving the market to its free operation.
The invisible hand presupposes that there is an inertia by which the market and its self-regulation leads individuals to make the best decisions for the majority of the population to achieve well-being. In other words, it is a kind of automatic control mechanism that compensates the actions taken as a whole, regulating social conformations.
Therefore, it is assumed that the self-regulation facilitated to the markets helps to achieve an optimal market. To do this, individuals must behave in such a way that they can act without state mediation and in pursuit of their own interest.
The metaphor of the invisible hand also supposes that individuals are encouraged or held back to produce or not to follow the level of prices that exist in the market. Prices and profits are sufficient indicative to know when to participate in the market or not. Basically, if there is profit in a market niche, this supposes a stimulus for production, while losses lead individuals to quit.
The correct answer to this question is choice A.
The definition of Imperfect Competition is when there is a situation in a market where there are features of a competitive market, but also characteristics of a monopoly. The other three choices are characteristics of a competitive market.