Answer:
$60
Explanation:
A financial charge is the cost of credit. It refers to the fee that one pays for using some credit facility. A financial charge, therefore, is the interest paid on credit granted to a borrower.
In this case: Cost of the Bike was $300
Tom agreed to pay $30 per month for 12 months on installment payment.
The total amount paid:
= $30 x 12
=$360
Original pride of the bike was $300; the financial charge will be
=$360- $300
=$60
Answer:
$114,000
Explanation:
Given that,
Net credit sales = $2,250,000
Opening allowance for Doubtful Accounts = $36,000
Uncollectible accounts receivable written off = $90,000
Firstly, we need to find the excess amount to be adjusted to allowance for Doubtful Accounts. It is calculated as follows:
= Uncollectible accounts receivable written off - Opening allowance for Doubtful Accounts
= $90,000 - $36,000
= $54,000
Allowance amount:
= 10% of the balance in receivables
= 0.1 × $600,000
= $60,000
Therefore, the required adjustment to the Allowance for Doubtful Accounts at December 31, 2017 is determined by summing up the excess amount and allowance amount.
= Excess amount to be adjusted to allowance for Doubtful Accounts + Allowance amount
= $54,000 + $60,000
= $114,000
They have special training and licenses, they work long and irregular hours, and they can react quickly in stressful situations.
<h3>What is Qualification?</h3>
This is defined as a skill or knowledge which fits a particular position in the society.
The three friends will most likely have special training and licenses, work long and irregular hours, and react quickly in stressful situations due to difference in job roles but the same type of approach being used.
Read more about Qualification here brainly.com/question/26119802
Answer:
Daniel Hair Stylists
Balance Sheet
For the year ended December 31, 2018
<u>Assets</u>
Current assets
- Cash $1,000
- Accounts Receivable $900
- Office Supplies <u> $600</u>
Total current assets $2,500
Non-current assets
- Equipment, net $19,700
- Accumulated depreciation <u> ($2,000) $17,700</u>
Total non-current assets <u>$17,700</u>
Total assets $20,200
<u>Liabilities</u>
Current liabilities
- Accounts Payable $900
- Interest Payable <u>$550
</u>
Total current liabilities $1,450
Total long term liabilities <u>$3,400</u>
Total liabilities $4,850
<u>Owner's Equity</u>
Owner's equity
- Retained earnings $4,700
- Common stock <u> $10,650</u>
Total owner's equity <u> $15,350</u>
Total liabilities and owner's equity $20,200