Answer:
<em>Incomplete question is "2. What journal entry should Johnson record to recognize bad debt expense for 2021? 3. Assume Johnson made no other adjustment of the allowance for uncollectible accounts during 2021. Determine the amount of accounts receivable written off during 2021 4. If Johnson instead used the direct write-off method, what would bad debt expense be for 2021?"</em>
1. Gross accounts Receivable = Allowance Account balance at beginning / 10%
= $30,000 / 10%
= $300,000
2. Year Account Title Debit Credit
2021 Bad debt expense $105,000
($500,000*10% + $55,000)
To Allowance for Doubtful Accounts $105,000
3. Accounts receivable written off = Beginning balance of Allowance Account - Ending Balance of Allowance account
= $30,000 - (- $50,000)
= $30,000 + $50,000
= $80,000
4. Bad debt expense for 2021 (direct write off method) = Amount written off = $80,000
Answer:
B
Explanation:
The Lower of Cost or Market Value Applies to the closing inventory and should be value at $103,700 Cost, which is the lower.
When a government introduces regulations addressing worker safety and environmental protection, it affects businesses and consumers.Businesses face Higher cost because the must alter existing infrastructure to<span> meet regulations. As a result, consumers pay more for the same produced goods.
Hope this helps!</span>
Answer:
Q = 435/22.5 = 19 streetlights
Explanation:
Since the streetlights is apublic good
Obtaining the market demand curve by adding them vertically
P = 20*20Q - 20*Q
P = 5*( - 5*Q/2
hence
P = 445 - 22.5Q
Socially optimal number of street lights
MB20 + MB5 = MC
400 - 20Q + 45 - 2.5Q = 10
22.5Q = 435
Q = 435/22.5 = 19 streetlights
