All categories

3 years ago

The following transactions were completed by Daws Company during the current fiscal year ended December 31:

Business

1 answer:

boyakko [2]3 years ago

4 0

Answer:

Explanation:

The T account is presented below:

Allowance for Doubtful Debts

Jan 29 $5,850 Jan 1 Beginning balance $54,200

Aug 9 $11,850 April 18 $4,000

Dec 31 $52,160 Nov 7 $7,000

Dec 31 Unadjusted

balance $4,660

Dec 31 Adjusting entry $64,660

Dec 31 Adjusted balance $60,000

You might be interested in

QUESTION 5 of 10: Since you rely on your parent/guardian for your food, shelter, and clothing, you are considered:

Nookie1986 [14]

Answer:

C) A dependent

Explanation:

You depend on other people for what you want

Depend = rely = same thing different way that it is written

You are depending on your parent/guardian for food, shelter, and clothing.

d is incorrect because you are not being independent, since you are not doing it yourself

Resourceful, nahh.

Lucky...how is that considered lucky, I mean yh ur lucky you have them but in this case no

Hope this helped!

Have a supercalifragilisticexpialidocious day!

4 0

3 years ago

Read 2 more answers

(a) Bank of Marienfield started its first day of operations with $150 million in capital. It received a total of $100 million i

Juliette [100K]

Here, we are going to prepare the balance sheet of Bank of Marienfield using the information given in the question..

Formula for Total liabilities is Capital + Checkable deposit + Loan from bank

Given Information

Capital = $150 Million

Checkable deposit = $100 Million

Loan from bank= $50 Million

Total liabilities = $150 Million + $100 Million + $50 Million

Total liabilities = $300 Million

Additional given Information

Commercial loan = $150 Million

Investment in shares = $120 Million

Investment in Treasury bonds = $20 Million

Required reserve = Checkable deposit * Required reserve rate

Required reserve = $100 Million * 10%

Required reserve = $10 Million

Excess reserve = Total liabilities - (Commercial loan + Investment in shares + Investment in Treasury bonds + Required reserve)

Excess reserve = $300 Million - ($150 Million + $120 Million + $20 Million + $10 Million)

Excess reserve = $300 Million - $300 Million

Excess reserve = $0 Million

Balance sheet of Bank of Marienfield.

Assets Amount Liability Amount

Required reserves $10 million Bank capital $150 million

Excess Reserve $0 Checkable deposit $100 million

Commercial loan $150 million Loan from bank $50 million

Investment in shares $120 million

Invest. Treasury bond $20 million

Total $300 million Total $300 million

3 0

3 years ago

Buyers are able to buy all they want to buy and sellers are able to sell all they want to sell at Group of answer choices prices

Yakvenalex [24]

Answer:

the equilibrium price but not above or below the equilibrium price.

Explanation:

At equilibrium price, quantity demanded equals quantity supplied. At this point, buyers are able to buy all they want to buy and sellers are able to sell all they want

Above equilibrium price, there would be a surplus. the quantity supplied would exceed the quantity demanded. Sellers would not be able to sell all they want in this case

Below the equilibrium price, there would be a shortage. the quantity demanded would exceed the quantity supplied. buyers would not be able to buy all they want

8 0

3 years ago

The ____ section of the project scope document is where the contractor or project team can state and clarify exactly what is inc

MA_775_DIABLO [31]

The statement of work section of the project scope document is where the contractor or project team can state and clarify exactly what is included in the work scope and provide an opportunity to reconsider items that are not stated but that the customer may have forgotten to include in her requirements or RFP.

I hope this helps :)

6 0

3 years ago

Falcon Crest Aces (FCA), Inc., is considering the purchase of a small plane to use in its wing-walking demonstrations and aerial

Simora [160]

Answer:

Net present value at 8%=($42510)

Explanation:

Explanation- Net present value = Present value of cash inflows – Total outflows

={(19000*6.7100) - $170000}

=$127490- $170000

= ($42510)

Annual net cash inflows = Net income+ Depreciation

= $4000+$15000

= $19000

Straight line Method:-

= Cost of asset- Salvage value of asset/No. of useful life (years)

=($170000-$20000)/10 years

=$150000/10 years = $15000

Net present value at 3%=($7926)

Explanation- Net present value = Present value of cash inflows – Total outflows

={(19000*8.5302) - $170000}

=$162074- $170000

= ($7926)

Annual net cash inflows = Net income+ Depreciation

= $4000+$15000

= $19000

Straight line Method:-

= Cost of asset- Salvage value of asset/No. of useful life (years)

=($170000-$20000)/10 years

=$150000/10 years = $15000

7 0

3 years ago