Answer:
0.4868%
$615.47
Explanation:
Given that
a. EAR = 6%
Thus,
Equivalent monthly rate = (1 + r)^n - 1
Where r = EAR
Therefore
= (1 + 0.06)^1/12 - 1
= 1.0048675 - 1
= 0.0048675 × 100
= 0.4868%
b. Given that
Monthly rate = 0.4868%
Future value = 100,000
Time = 10 years
Recall that
FV annuity formula = C × (1/r) × ([1 + r ]^n - 1)
Where
C = payment
Therefore
100000 = C (1/0.004868) × ([1 + 0.004868]^120 - 1)
C = 100,000/(1/0.004868) × ([1 + 0.004868]^120 - 1)
C = $615.47 per month
Answer: false
Most businesses remove or write off bad accounts but not periodically. By periodically means, it occurs at regular times which bad accounts are not. Accounts are considered bad accounts if they remained uncollectible after many months.
The entry to write off consists of 1) a credit to Accounts Receivable to remove it, and 2) a debit to Bad Debts Expense to report it.
Answer:
<em>Workplace MIS monitoring</em>
Explanation:
Employee monitoring <em>is the act of using different workplace tracking techniques to collect data about personnel members ' practices and positions.
</em>
In order to enhance efficiency and safeguard company assets, companies track their staff. First of all, the primary purpose is to avoid inexcusable conduct and, if the attempt fails, to reduce the conduct before it could have an adverse impact on the company.
Answer:
Bad debt expense for 2016 should be: c. $8,520
Explanation:
As of December 31, 2016, Amy Jo's Appliances had accounts receivable of $313,000 and the allowance for uncollectible accounts should be 3% of accounts receivable
Bad debts are estimated: 3% x $313,000 = $9,390
Amy Jo's Appliances had $870 in the allowance for uncollectible accounts
Bad debts expense = $9,390 - $870 = $8,520
The entry will be made:
Debit Bad debts expense $8,520
Credit Allowance for uncollectible accounts $8,520
Yes the firm should the 1 percent decrease of the capital won’t effect too much. So yes.
