Answer:A
Explanation:
Veracity : This simply means conformity with truth or facts. Since Bjorn felt that the focus group did not give him fact, he would hereby, adopt veracity to achieve his secondary research.
Answer: decrease in demand for rackets and a decrease in quantity supplied of tennis balls. I hope this helps!!
Explanation:
Answer:
Rent expense (Dr,) $9,800
Prepaid Rent $9,800
Explanation:
The accrual concept of accounting requires us to record the expenses in a period in which they are incurred rather than when cash is paid. When the company paid advance rent of six months at the end of October, it will record a current asset (Unexpired resource) on the face of balance sheet. At the end each accounting period, it is required to expense out the resources (benefits) that are expired (utilized). This can be done through straight-line method. So, on December 31, 2019, the rent expense of two months that is of November and December should be charged to profit and loss statement in-order to record the expense of related period.
<u>Workings</u>
Rent expense per month = 29,400 / 6 = $4,900.
⇒ Rent expense of two months = 4,900 * 2 = $9,800.
This amount should be written off and the required adjusting entry is:
Rent expense (Dr,) $9,800
Prepaid Rent $9,800
Explanation:
Given that
Debit balance = $845
Uncollectible receivables = $15,368
The Journal entry is given below:-
1. Bad debt expenses $16,213
To, Allowance for Doubtful Accounts $16,213
(Being bad dept expenses is recorded)
Note
Computation is shown below:-
Debit balance + Uncollectible receivables
= $845 + $15,368
= $16,213
Answer:
The monetary value is $24,201.23
Explanation:
Giving the following information:
Cash flows:
Year 1= $6,800
Year 2= 6,800
Year 3= 6,800
Year 4= $15,000.
The discount rate is 15 percent.
We need to discount each cash flow to the present value:
PV= FV/(1+i)^n
Year 1= 6,800/1.15= 5,913.04
Year 2= 6,800/1.15^2= 5,141.78
Year 3= 6,800/1.15^3= 4,471.11
Year 4= 15,000/ 1.15^4= 8,576.30
Total= $24,201.23
