On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $73,800 and $3,500, respectively. During the year Kincaid reported $204,000 of credit sales. Kincaid wrote off $1,950 of receivables as uncollectible in Year 2. Cash collections of receivables amounted to $252,100. Kincaid estimates that it will be unable to collect one percent (1%) of credit sales.

Which of the following describes the effects of Kincaid's entry to recognize the write-off of the uncollectible accounts?

a. Increase assets and stockholders' equity.
b. Increase assets and decrease stockholders' equity.
c. assets and stockholders' equity.
d. Does not affect assets or stockholders' equity.

In a market economy, supply and demand are important because theya. (i) play a critical role in the allocation of the economy's scarce resources. b. (ii) determine how much of each good gets produced. c. (iii) can be used to predict the impact on the economy of various events and policies. d. all of (i), (ii), and (iii) are correct.

An attorney came to work on a saturday. when he signed in, he was advised by the morning security guard employed by the building management that he must be out of the building by 5 p. m., when it closes. however, he stayed past 5 p. m. to complete a brief that had to be filed on monday morning. at 5: 15 p. m., the afternoon security guard set the locks on all the doors of the building and left. because she was in a hurry, she did not check the sign-in sheet to make sure that everyone had signed out, contrary to mandatory procedures. when the attorney tried to exit 15 minutes later, he discovered that the doors were all locked and could not be opened from the inside. he used his cell phone to call for , and a supervisor from the building arrived and let him out shortly thereafter. if the attorney sues the building management for false imprisonment, is he likely to win?

Hillside issues $4,000,000 of 6%, 15-year bonds dated january 1, 2016, that pay interest semiannually on june 30 and december 31. the bonds are issued at a price of $4,895,980. required: 1. prepare the january 1, 2016, journal entry to record the bonds’ issuance