Answer and Explanation:
The journal entries are shown below:
1. Allowance for doubtful Accounts Dr $3,500
To Accounts receivable $3,500
(Being the allowance for doubtful account is recorded)
2. Accounts receivable Dr $3,500
To Allowance for doubtful Accounts $3,500
(Being the written off amount is recorded)
3. Cash Dr $3,500
To Account receivable $3,500
(Being the cash collection is recorded)
Only these 3 entries are required
Answer:
structurally unemployed.
Explanation:
Unemployment rate refers to the percentage of the total labor force in an economy, who are unemployed but seeking to be gainfully employed. The unemployment rate is divided into various types, these include;
1. Cyclical unemployment rate (CU).
2. Frictional unemployment rate (FU).
3. Structural unemployment rate (SU).
Structural unemployment can be defined as an involuntary unemployment that arises as a result of the incompatibility between a worker's skills set and requisite skills an employer seeks from the workers or due to technological changes.
This ultimately implies that, it describes a situation where an individual isn't able to secure a job as a result of insufficient number of jobs matching their qualifications, thus limiting their opportunities.
In this scenario, Monica Smith was unemployed because the steel company, where she worked, closed and moved overseas to a foreign country. Other steel companies have also closed. Her skills are not transferable to another industry and she is unable to get a job.
Hence, she would be classified as structurally unemployed.
Answer:
The price earnings ratio for Beta corporation is 8 times
Explanation:
The formula for price-earnings ratio is the stock market price divided by the stock earnings per share.
The stock market price has been given as $52 per share
the earnings per share=net income-preferred dividends/weighted average number of shares
net income is $325,000
preferred dividends is $0
weighted average number of shares is 50,000
earnings per share=($325,000-$0)/50,000=$6.5
price earnings ratio=$52/$6.5= 8 times
<span>For Auslese, the medium sweet wine is made from late picked ripe grapes that are affected by Noble Rot. For Beerenauslese, a very sweet wine is made from very ripe grapes that are affected by Noble Rot. For Trockenbeerenauslese, a very sweet wine made from even riper grapes that are affected by Noble Rot.</span>
Answer:
a. $5,194,000
b. $7,715,000
Explanation:
a. Book Value of assets = Book value of fixed assets + book value of current assets
Book Value of assets = Book value of fixed assets + (Current Liabilities + Net working capital)
Book Value of assets = $4,200,000 + ($850,000 + $144,000)
Book Value of assets = $5,194,000
b. Sum of market value = $7,600,000 + ($965,000 - $850,000)
Sum of market value = $$7,600,000 + $115,000
Sum of market value = $7,715,000
