Answer:
the amount that should be invested now is $476,654
Explanation:
The computation of the amount that should be invested now is shown below:
= Payment made each year × (1 - (1 + rate of interest)^-number of years) ÷ rate of interest
= $100,000 × [1 - (1 + 7%)^-6] ÷ 7%
= $476,654
hence, the amount that should be invested now is $476,654
Answer:
$20,000
Explanation:
From the question above
At the end of 2018, there was a credit balance of $10,000 in allowance for the doubtful accounts.
After proper screening of the account receivable through the use of a method known as 'aging of receivables method' the management of the company estimated that the uncollectible accounts will be $30,000
Therefore, the amount of bad debts expense recorded on the income statement can be calculated as follows
= $30,000-$10,000
= $20,000
Hence the amount of bad debts expense that was recorded on the income statement is $20,000
Answer:
true
Explanation:
true because economics can be applied to anything involving wealth or the public's interest in purchasing products.
The sale for more than the original cost basis before depreciation of machinery is used in trade or business is Section 1245 and Section 1231.
A business is described as an organization or enterprising entity engaged in commercial, commercial, or professional activities. groups can be for-earnings entities or non-profit companies. Enterprise sorts range from confined liability groups to sole proprietorships, organizations, and partnerships.
A business case describes the purpose, or reason, that an enterprise became to start with the base. It describes what makes an enterprise-specific, in addition to what the commercial enterprise plans to do. A business case isn't a venture or price statement and is plenty shorter than both.
The definition of business is an occupation or change and the purchase and sale of services or products to make a profit. An instance of commercial enterprise is farming. An instance of business is a house sale.
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Answer:
Debit account receivable $2.4 million; Credit Ticket Revenue $2.4 million
Explanation:
Double entry is when a business records a debit and credit in relation to a transaction. Generally you debit the receiver and credit the giver.
In this instance sales of tickets were made by Denver Broncos of $2.4 million worth.
The sale involves receipt of cash, but it is preseason and customers have not yet received service so we debit accounts receivable for $2.4 million.
Revenue is made from the sale so we credit Ticket Revenue to recognise income made.