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Answer:
None of the options are False.
Explanation:
CA means Current Account Balance
T means Taxes
G means Government Spending
S equals National Savings and
I equals Investment
Cheers!
Answer:
The answer is B. -97.7.
Explanation:
As the question gives us the spot rate, the interest rates of two countries, We can apply the covered interest parity to calculate the 90-day forward exchange rate JPY/AUD from which 90-day forward points can be derived.
F = S x ( 1+ Rjpy) / ( 1+ Raud); in which Rjpy denoted as JPY interest rate ( 0.15% per annum) while Raud is AUD interest rate ( 4.95% per annum).
F = 82.42 x (1+ 0.15% x 90/360) / ( 1 + 4.95% x 90/360) = 81.443
=> The 90-day forward points is : 100 x ( F-S) = 100 x ( 81.443 - 82.42) = -97.7
Answer:
<em>Incomplete question is "2. What journal entry should Johnson record to recognize bad debt expense for 2021? 3. Assume Johnson made no other adjustment of the allowance for uncollectible accounts during 2021. Determine the amount of accounts receivable written off during 2021 4. If Johnson instead used the direct write-off method, what would bad debt expense be for 2021?"</em>
1. Gross accounts Receivable = Allowance Account balance at beginning / 10%
= $30,000 / 10%
= $300,000
2. Year Account Title Debit Credit
2021 Bad debt expense $105,000
($500,000*10% + $55,000)
To Allowance for Doubtful Accounts $105,000
3. Accounts receivable written off = Beginning balance of Allowance Account - Ending Balance of Allowance account
= $30,000 - (- $50,000)
= $30,000 + $50,000
= $80,000
4. Bad debt expense for 2021 (direct write off method) = Amount written off = $80,000
Answer and Explanation:
The journal entry at the time of receiving the note is as follows:
Note receivable Dr $11,000
To Account receivable $11,000
(Being the note receivable is recorded)
Here the note receivable is debited as it increased the assets and credited the account receivable as it decreased the assets
