<span>The amount of interest expense recognized by Congo Express Airways would be $199,334 after one year of being issued. This is calculated by finding 6% of the $3,700,000 which is $222,000. Then subtracting the amortized amount of $22,666 per annum, which was found by doubling the 6 month rate of $11,333. This gives you a total of $199,334.</span>
Answer:
c) credit to Accounts Receivable - ZRT.
f) debit to Allowance for Doubtful Accounts.
Explanation:
As for the information provided,
We know in allowance method, provision is created as and when there are doubtful debts, for which entry is
Bad Debts Expense Account Dr.
To Allowance for doubtful debts.
And when the bad debts are actually written off then,
The entry will reduce the balance of accounts receivables and that of allowance as well.
Entry will be:
Allowance for Doubtful debts A/c Dr.
To Accounts Receivables.
Thus, correct options shall be:
Option c) and f)
Answer:
solomon is supposed to continue production at Division B because of the increase in the production volume and sales volume that has increased.
Explanation:
Solomon should take the risk of continuing in the business for like a certian period so that he can be able to asses the production fully before making a decision of probably Subleasing the facility.
Sublease: this is the act of leasing a property by a tenant to a subtenant
Answer:
Explanation:
Start with your gross income. Income is on lines 7-22 of Form 1040.
Add these together to arrive at your total income.
Subtract your adjustments from your total income (also called “above-the-line deductions”)
You have your AGI.