Answer:
Explanation:
Multiple Choices aren't given, so I will just solve this.
Josiah had "d" dimes and "n" nickels.
There are a total of 35 coins, nickels and dimes.
The value of "d" dimes and "n" nickels is $3.30
Note: Value of nickels is 0.05 and dimes is 0.10 (in dollars)
The system of equations (2) we can use to solve this will be:
1) an equation involving total number of coins
2) an equation stating the value of each coin and total value
Equation 1:
Equation 2:
These are the 2 equations that can be solved simulataneously to find the number of nickels and dimes.
Answer:
(1) understated
(2) understaded
(3) unchanged
Explanation:
The amount of equivalent units will be higher as the ending inventory of work in process will be above of what it should be.
As we have more equivalent untis the cost per equivalent unit will be lower:
So both, conversion cost and total cost per equivalent untis will e lower than it should be as are getting divided over a larger amount.
the physical amount of units worked during the month and those which are complete will not be affected as the percentage of completion is an accounting tool to calculate the cost not to count the amount of units in possession
Answer: The bondholders decided to convert the bonds into common stock because they believed that getting $2250 today is worth more than $120 interest every year and a $1000 principal payment at the end of the bonds life.
Explanation:
1) In order to find out the number of bonds issued we need to divide 750,000 (Total ) by 1000(Face value of each bond).Total number of bonds issues therefore are 750.
2) A 12 percent convertible bond means that the bond pays a coupon of 120 ( 0.12 * 1000) every year.
3) Each bond is convertible into 25 shares , which means if one bond is converted into common stock, the bond holder can earn $1750. We calculate this number by multiplying the number of shares which is 25 into the current market price of the shares which is 70.
4) Also the company is offering an extra $500 per bond for converting it which means (500/25) an extra $20 per share.
5) So in total the bondholder by converting a bond and selling the shares he gets by converting it can earn $2250 per bond which they bought for a $1000 and gives them 120$ of interest every year.
6) SO to conclude the bondholders decided to convert the bonds into common stock because they believed that getting $2250 today is worth more than $120 interest every year and a $1000 principal payment at the end of the bonds life.
When it comes to this context, nothing is sure to be a success, so no
Answer:
Allowance for uncollectible accounts
Explanation:
This account is a contra asset account which says that the account receivable amount is not collected in near future
It is shown in the asset side of the balance sheet
Assets side
Current Assets
Accounts receivable XXXXX
Less: Allowance for doubtful debts (XXXXX)
Net accounts receivable XXXXX
It is an estimated amount which is not to be paid by the customer in respect to goods delivered to them
The journal entry would be
Bad debt expense A/c Dr XXXXX
To Allowance for uncollectible accounts A/c XXXXX
(Being the uncollected amount is recorded)
