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3 years ago

Why is it generally a bad idea to put a lot of money into improvements for a home you are renting?

1 answer:

3 0

Improvents in a rental property often won't increase rents. Also improvements could be damaged if the property continoues as rental which means the updates lose value.

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Taylor, Inc. had accounts receivable of $310,000 and an allowance for doubtful accounts of $19,500 just before writing off as wo

eimsori [14]

Answer:

Net realizable value before write off and after write off remains the same. since the write off is recorded as a debit to uncollectible account and credit to accounts receivables account. The net realizable value is $ 290,500.

Explanation:

Net Realizable value before write off =

Accounts Receivable - Allowance for doubtful accounts

$ 310,000 - $ 19,500 = $ 290,500

The recording for the write off is

Allowance for doubtful accounts Debit $ 1,300

Accounts receivables Credit $ 1,300

Balances after write off are

Accounts Receivable $ 310,000 - $ 1,300 = $ 308,700

Allowance for doubtful accounts $ 19.500- $ 1,300 = <u> $ 18,200</u>

Net realizable value after write off is $ 290,500

There is no change in the net realizable value of receivables

7 0

3 years ago

When commercial banks need more Federal Reserve Notes, Question 16 options: they call the Bureau of Engraving and Printing, whic

romanna [79]

Answer:

they call their Federal Reserve District Bank, which delivers the requested amount.

Explanation:

The Federal Reserve System (popularly referred to as the 'Fed') was created by the Federal Reserve Act, passed by the U.S Congress on the 23rd of December, 1913. The Fed began operations in 1914 and just like all central banks, the Federal Reserve is a United States government agency.

Generally, it comprises of twelve (12) Federal Reserve Bank regionally across the United States of America, which are commonly referred to as Federal Reserve District Bank.

The Fed provides banking services to all the commercial banks in the country because the Federal Reserve is the "lender of last resort."

Hence, when commercial banks such as the regular banks in societies need more Federal Reserve Notes, they call their Federal Reserve District Bank to deliver the requested amount to them.

Additionally, currency in circulation includes all of the US paper currency (dollar bill) that are available in the country while reserves refers to the minimum deposits being held for the U.S Treasury and depository financial institutions by the Fed.

5 0

3 years ago

Pie Bakery owns 60 percent of slice Products Company's stock. During 20X8. Slice produced 100,000 bags of flour, which it sold t

Archy [21]

Answer:

Since no transactions are specified that were made out of the group ( i.e. Holding Company and Subsidiary) so, in consolidated income statement of 20x8, no COGS shall be shown for the transactions made between Pie and Slice Co.

Explanation:

In consolidated financial statements, we represent Holding ( Pie ) and Subsidiary ( Slice ) Companies as a single unit. Hence, the transactions made within the group are not considered in making of Consolidated financial statements.

However, both companies will show the sales and COGS in separate financial statements.

4 0

4 years ago

Today, Thomas deposited $100,000 in a three-year, 12% CD that compounds quarterly. Whatis the maturity value of the CD?A) $109,2

marysya [2.9K]

Answer:

C) $142,576

Explanation:

The computation of the maturity value of the CD is shown below:

We use the future value formula that is shown in the spreadsheet.

Given that,

Present value = $100,000

Rate of interest = 12% ÷ 4 quarters = 3%

NPER = 3 years × 4 quarters = 12 years

PMT = $0

The formula is shown below:

= -FV(Rate;NPER;PMT;FV;type)

The future value is $142,576

5 0

4 years ago

How is value added different from profit

maks197457 [2]

The value is what the company earned from profits. The company's income and revenue minus explict cost.

5 0

4 years ago