Rankine Company estimates its bad debts expense by aging its accounts receivable and applying percentages to various age groups of the accounts. Rankine calculated a total of $12,000 in possible credit losses as of December 31. Accounts Receivable has a balance of $384,000, and the Allowance for Doubtful Accounts has a credit balance of $1,500 before adjustment at December 31. What is the December 31 adjusting entry to provide for credit losses

The era of venture capitalists doling out large sums of money to startups is a. just beginning b. on the rise c. over d. fading

Motonous corporation has completed its fiscal year and reported the following information. the company had current assets of $153,413, net fixed assets of $ 412,331, and other assets of $7,822. the firm also has current liabilities worth $65,314, long-term debt of $178,334, and common stock of $162,000. how much retained earnings does the firm have?

Brian has just finished college. he wants to set up a small business to make and sell fireworks. he registers his company and acquires a license from the government. he finds that most of his competitors are selling fireworks at an extremely low price. he would like to make more money, so he decides to innovate and develop better fireworks. he sells his fireworks at a higher price, and they are a huge hit with the customers. after a few years, he earns enough profit to set up a bigger fireworks factory that complies with the government’s health and safety regulations. he even starts exporting fireworks overseas. which type of economy does this scenario describe?