<span>Shane, who is interested in new ways to get more capital for his business that sells and services appliances, is highly protective of his company's information and often worries that it may fall into the wrong hands. With this state of mind, Shane is likely not interested in incorporating his money</span>
When a bad debt is written off, the thing that should be fine is an entry to reinstate the account receivable and and entry to record payment.
<h3>What is a bad debt?</h3>
A bad debt simply means an uncollectible account expense that's unlikely to be paid by a debtor.
When an account previously written off is collected in full, to ensure the accounting for the complete payment history of the customer, it's important to reinstate the account receivable and and entry to record payment.
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Answer:
$31,240
Explanation:
Calculation for what is your portfolio value as of April 19
Using this formula
Portfolio value= Stock value + Cash
Let plug in the formula
Portfolio value = [(310 shares× ($101 -3.20))+ (310 shares × $3.20) ]
Portfolio value = [(310*97.80)+922)]
Portfolio value=$30,318+$922
Portfolio value=$31,240
Therefore your portfolio value as of April 19 will be $31,240
Answer:
See explanation section
Explanation:
When we need to close accounts, we close the income and expenses accounts. The reason to close those accounts is that those are temporary accounts. Drawings and dividends are also temporary as those accounts have to be settled through capital and retained earnings balance. Therefore,
We will close the entries to income summary are -
D. Depreciation Expense
E. Fees Earned
J. Supplies Expense
L. Wages expense.
The entry to close against a capital account is Drawings. Therefore, Jackie Lindsay, Drawing should be closed.
Answer:
c. Increase by $0.1 trillion
Explanation:
Investment spending Multiplier is a concept in economics that measure how a given change in investment increases output. So if current output of $13.5 trillion must increase to $14 trillion, we employ the multiplier formula to derive what amount of investment spending is needed to get $o.5trillion increase in output.
(change in output)/ (change in investment) = 1/(1-mpc)
Note that mpc means marginal propensity to consume.
Let change in investment = X
change in output = 14 - 13.5 = $0.5trillion
mpc = 0.8
(0.5)/X = 1(1-0,8)
0.5/X = 1/0.2
cross multiply
X = 0.1
Thus the needed change in investment is an increase of $0.1 trillion. In other words, if investment increases by $0.1 trillion, current output will increase from $13.5 trillion to $14 trillion.
