Answer:
$141.80
Explanation:
Calculation for the difference in the present value of these two sets of payments
First step is to calculate for the PVA Due
PVA Due = $450 × [(1 - {1 / [1 + (.095 / 12)]^(4 × 12)}) / (.095 / 12)] × [1 + (.095 / 12)]
PVA Due = $18,053.58
Second step is to find the PVA
PVA = $450 × [(1 - {1 / [1 + (.095 / 12)]^(4 × 12)}) / (.095 / 12)]
PVA= $17,911.78
Since we have know both the PVA Due and the PVA the last step will be to know the difference between the both sets of payments using this formula
Difference= PVA Due - PVA
Difference = $18,053.58 - 17,911.78
Difference= $141.80
Therefore the difference in the present value of these two sets of payments will be $141.80
Answer:
CRJ means cash receipt journal. ... In higher classes, this journal is not made, it is included in the debit side of cash book. Meaning of CPJ. CPJ means cash payment journal.
<em />I think it is C but don't quote me on it.
Answer:
Price decreases and demand increases
Explanation:
After achieving a required profit, stores usually start to sell their products on sale. A sale is an opportunity for the buyers to buy goods and services at low prices. Price and demand have an inverse relationship, that is why, on sale, the price decreases and moves the point down, whereas, the increase in the demand moves the point up.
Answer:
a. total estimated uncollectible accounts is $21,190
b. to entry the adjustment, we have to debit bad debt expense and credit allowance for doubtful accounts in the amount of $14,690
Explanation:
a. to compute the estimated uncollectible accounts, we have to multiply the specific % to the accounts receivable plus the beginning balance;
•Accounts not due
$36,000 x 4% = $1,440
•Accounts 1 - 60 days past due
$21,000 x 25% = $5,250
•Accounts more than 60 days past due
$16,000 x 50% = $8,000
So the total uncollectible accounts would be; $6,500 + $1,440 + $5,250 + $8,000 = $21,190
b. to record the year-end adjustment of the uncollectible accounts, we have to debit bad debt expense and credit allowance for doubtful accounts in the amount of $14,690. This figure is the uncollectible amount we computed earlier based on the aging.
