Answer:
Entry: 1. Dr bad debts expense 5500
Cr Allowance for uncollectible accounts 5500
Explanation:
1.Account receivable = $44000
Allowance for uncollectible accounts(Dec,31 2021) = $1100
44000* 15% = 6600 - 1100 = $5500 Allowance for uncollectible accounts
2. Bad debts expense = (44000* 15%) = 6600
3. Uncollecible accounts = (Open) Allowance for bad debts + Current year Allowance.
= 1100 + 6600 = $7700.
4. 44000 - 7700 = $36300 net account receiable
Answer:
$1.06; 11.3%
Explanation:
Current selling price of stock, P = $20
Dividend paid a share, D0 = $1
Dividend growth rate = 6%
Dividend growth rate = (D1 ÷ D0) - 1
6% = (D1 ÷ 1) - 1
0.06 = (D1 ÷ 1) - 1
D1 = 1.06
Expected dividend yield = D1 ÷ P
= 1.06 ÷ 20
= 5.3%
Required rate of return = Expected growth + Expected dividend yield
= 6% + 5.3%
= 11.3%
Options :
a. Ceiling fans are usually considered real estate.
b. The ceiling fan belongs to the seller.
c. Ceiling fans are considered trade fixtures.
d. Ceiling fans are considered personal property.
Answer: a. Ceiling fans are usually considered real estate.
Explanation: The ceiling fan should be transferred to the buyer as it is considered real estate. Items of this nature becomes part of the real estate property as they have become attached to the home. Also, since ceiling fan is present at the time of purchase and there was no written or verbal agreement that it will be detached from the property once the property is sold. Therefore, the ceiling fan is a real estate and should be a part of what was purchased by the buyer.
Answer:
$15.64
Explanation:
first we must determine the market value of the bond without the warrants:
PV of face value = $1,000 / (1 + 3.5%)⁵⁰ = $179.05
PV of coupon payments = $25 x 23.45562 (PV annuity factor, 3.5%, 50 periods) = $586.39
market value = $765.44
the market value of the 15 warrants = $1,000 - $765.44 = $234.56
market value per warrant = $234.56 / 15 = $15.64
Answer:
C. State and local governments
Explanation:
Securities are commercial debts or equity instruments sold to investors in the financial markets. Public-listed corporations or the government may issue securities as a way of raising capital. The Securities Act of 1933 requires securities registered with the SEC and abide by the other provisions in the act, such as full disclosure of financial information.
However, not all securities issued must be registered with the SEC. Exemptions are granted to certain types of securities. Financial instruments issued by or having government backing are considered to have the exception status.