16. (6 points) Match several information characteristics and…

16. (6 points) Match several information characteristics and accounting principles and assumptions with the appropriate phrase that states its application (answers may be used more than once). 1)     Monetary unit assumption 2)     Periodicity assumption 3)     Faithful representation characteristic 4)     Economic entity assumption 5)     Revenue recognition principle  6)     Relevance characteristic 7)     Expense recognition principle 8)     Historical cost principle 9)     Going concern assumption 10) Full disclosure principle 11) Consistency characteristic  

Artemis Inc.’s trial balance before year-end adjustments inc…

Artemis Inc.’s trial balance before year-end adjustments included the following: Account Debit Credit Sales revenue $1,700,000 Sales returns and allowances  $56,000 Accounts receivable  $172,000 Allowance for doubtful accounts  $3,040 If the estimate of uncollectible accounts is 10% of gross account receivables, the amount of the year-end adjustment is