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2 years ago

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Business

1 answer:

Vikki [24]2 years ago

4 0

Answer:

The American Recovery and Reinvestment Act of 2009 (Recovery Act) - which President Obama signed into law on February 17th, 2009 - was an unprecedented action to stimulate the economy. It included measures to modernize our nation's energy and communication infrastructure and enhance energy independence.

Explanation:

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Kingbird, Inc. uses the percentage-of-receivables basis to record bad debt expense and concludes that 3% of accounts receivable

antoniya [11.8K]

Answer:

(a) The adjusting journal entry to record bad debt expense for the year:

Debit Bad debt expense $5,640

Credit Allowance for doubtful accounts $5,640

<em>(To record bad debt expense)</em>

(b) If the allowance for doubtful accounts had a debit balance of $870 instead of a credit balance of $2,950, The appropriate journal entries are:

Debit Bad debt expense $9,460

Credit Allowance for doubtful accounts $9,460

<em>(To record bad debt expense)</em>

Explanation:

To arrive at the bad debt expense for Kingbird, Inc., we simply need to calculate 3% of accounts receivable, as follows:

2% of $429,500 = $8,590

Since the allowance for doubtful accounts has a credit balance of $2,950, the bad debt expense will be: $8,590 - $2,950 = $5,640. The appropriate journal entries are as provided above.

However, if the allowance for doubtful accounts had a debit balance of $870 instead of a credit balance of $2,950, the bad debt expense will be: $8,590 + $870 = $9,460. The addition is necessary in order to reinstate the allowance account to $8,590. The appropriate journal entries are as provided above.

6 0

3 years ago

Is Darby doing anything wrong? If so, what? What ethics traps is she facing?

Rom4ik [11]

Answer:

Hello your question is incomplete attached below is a screenshot of the question

Answer: i) Darby is doing something wrong

ii) Ethic traps are : Money and Rationalization

Explanation:

Darby is doing something wrong because she is taking the benefits of H associates company for personal purposes. and this totally unethical behavior been exhibited by Darby

The ethics trap faced by Darby are :

Money ; Money is the most influential trap that makes employees engage in most unethical activities because Human beings want more money always

Rationalization : Darby is using the company's facilities for personal use because she feels that her usage of the facilities for personal use won't affect the company negatively

3 0

3 years ago

What is the standard deviation of a portfolio's returns if the mean return is 15%, the variance of returns is 184, and there are

masya89 [10]

In the problem, the given data is the mean and the variance. Now to solve this problem, we must remember that the formula for variance is:

Variance = s^2

Where s is equivalent to the standard deviation, therefore:

s = sqrt (Variance)

Calculating for the value of the standard deviation given Variance = 184:

s = sqrt (184)

s = 13.56 % (ANSWER)

7 0

3 years ago

Suzie has $16,000 in her investment account today. She saves $500 a quarter and earns 8% interest compounded quarterly. How much

andrezito [222]

Suzie has $26,997.90 in her account three years from now in her investment.

An investment is an asset or object obtained with the intention of generating profits or appreciation. Appreciation refers to an increase within the fee of an asset over time. when an individual purchases an excellent as an funding, the rationale isn't always to eat the good however alternatively to use it inside the future to create wealth.

investment = $16000

FV = future value

PV = present value = 16,000

r = interest rate = 8% / 4 = 2% per quarter

n = number of quarters = 3 * 4 = 12

The future value of the single investment is:

FV=PV∗(1+r)n

FV=16,000∗(1+0.02)12

FV=$20,291.86

Annuity of $500 per quarter

Let

FVA be the future value of the annuity

PMT be the periodic payment

The future value of the annuity is:

FVA = PMT × (1+r)ⁿ - 1 / r

= 500 × (1+ 0.02)¹² - 1 /0.02

= $6,706.04

After 3 years, her account balance will be the sum of these two future values:

Balance = FV + FVA = 20,291.86 + 6,706.04 = 26,997.90

Suzie will have $26,997.90 in her account.

Learn more about investment here:-brainly.com/question/25300925

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5 0

1 year ago

Which one of these investments pools the funds of many investors, hires a professional money manager to manage those funds, and

Sergeeva-Olga [200]

Answer: Mutual Fund

Explanation:

You included no options however this should be the correct answer.

Mutual funds work by pooling the investments of many different investors and then hiring a professional to manage these funds such that the investors can make profits.

The investors will then own shares in the mutual fund which is equivalent to their investment. Mutual funds offers the advantage of diversification to its investors who will be able to invest in many diverse industries with a relatively low amount of money.

4 0

2 years ago