Explanation:
The Journal entry is shown below:-
On Jan 31
Allowance for doubtful accounts $2,800
To Accounts receivable - C. Green $2,800
(Being the uncollectible amount is recorded)
Mar 09
Accounts receivable - C. Green $2,300
To Allowance for doubtful accounts $2,300
(Being the written off amount is recorded
Mar 09
Cash $2,300
To Accounts receivable - C. Green $2,300
(Being the payment is received is recorded)
Answer:
4*0.07=energy use per day(x)
(x)*30=energy use in thirty days (y)
Therefore
X=$0.28
Y=$8.4
Explanation:
Answer:
The correct answer is B. can use different depreciation methods for tax and financial reporting purposes.
Explanation:
Corporations are allowed to use various depreciation methods (in a straight line, double decreasing balance and the sum of the digits of the years). For fiscal purposes, using the MACRS recovery periods, the assets of the first four classes of property are depreciated using the double declining balance method.
Answer:
The answer is A.15.12%.
Explanation:
Please find the below for explanation and calculations:
We have EBIT = Pretax profit /0.7 = Net profit / (0.6 x 0.7) = 0.42 x Net Profit
=> Net profit / Sales = Profit margin = 0.42 x EBIT/ Sales = 0.42 x Return-on-sales = 2.52%;
Leverage ratio = Asset/ Equity = 1.5;
Sales / Asset = asset turn over ratio = 4;
Apply the Dupont model we have:
Return on Equity = Leverage ratio x Profit Margin x Leverage ratio = 2.52% x 1.5 x 4 = 15.12%.
Thus, the answer is A. 15.12%.
