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3 years ago

ANSWER ASAP

Business

2 answers:

natka813 [3]3 years ago

8 0

Answer: The correct answer is Account A.

Explanation: The best type of account for Kylie is checking account A for three different reasons.

1. She has the $500 minimum balance to open the account.

2. She plans on using her bank’s ATM to make deposits and withdrawals, which are free for this account.

3. Kylie sometimes over draws her account, and Account A offers overdraft protection.

Slav-nsk [51]3 years ago

5 0

Answer:

A: Account A

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4. You have determined that Company X estimates bad debt expense with an aging of accounts receivable schedule. Company X's esti

MariettaO [177]

Answer:

a. $180

Explanation:

Bad debt expenses is generally classified as Administrative expense and hence it is included in the expense section of the income statement before the calculation of the Net Income.

From the question it is evident that the write offs during the period were $180 and hence the expense recorded in the Income statement as bad debt expense would be $180 because they are unrecoverable for the current period.

Hope this helps.

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4 0

3 years ago

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Bonita Industries began the year by issuing $75500 of common stock for cash. The company recorded revenues of $772000, expenses

Alex

Answer:

net income = $106,000

Explanation:

net income = total revenues - total expenses = $772,000 - $666,000 = $106,000

Any additional capital raised will increase the company's cash flows (financing activity) and any dividends distributed will decrease them (another financing activity), but they do not affect the company's net income.

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2 years ago

In preparing a statement of cash flows using the indirectmethod, the Depreciation Expense ________

motikmotik

Answer:B -

Explanation:Depreciation is added back as an adjustment to the net income in the operating activities section.

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3 years ago

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Borrowed 152300 for three years if the qouted rate (apr) is 11.75% and the compounding is daily what is the effective annual rat

Vikki [24]

Answer:

The appropriate response is "12.47%".

Explanation:

The given values are:

Borrowed amount,

= 152300

APR,

= 11.75%

i.e.,

= 0.1175

Now,

The effective annual rate will be:

= $(\frac{1+APR}{n} )^n$

On substituting the given values, we get

= $(\frac{1+0.1175}{365} )^{365}$

= $(\frac{1.1175}{365} )^{365}$

= $1.12466-1$

= $0.1247 \ or \ 12.47 \ percent$

7 0

3 years ago

Lotoya Davis Corporation has 10 million shares o common stock issued and outstanding. On June 1, the board of directors voted an

Viktor [21]

Answer:

June 1st:

Retained Earnings (Dr.) $8,000,000

Dividends Payable (Cr.) $8,000,000

June 30th

Dividends Payable (Dr.) $8,000,000

Cash (Cr.) $8,000,000

These entries will remain same even in the case of liquidating dividend.

Explanation:

On June 1st the dividend is declared so the journal entry will be

Retained Earnings (Dr.) $8,000,000

Dividends Payable (Cr.) $8,000,000

There will be no journal entry on June 14th.

On June 30th the dividend is paid:

Dividends Payable (Dr.) $8,000,000

Cash (Cr.) $8,000,000

The entry would not have differed if it was a liquidating dividend.

5 0

3 years ago