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3 years ago

The Federal Application for Student Aid (FAFSA) form:

2 answers:

8 0

The Federal Application for Student Aid (FAFSA) form<u> </u><u>"is the free application for federal student aid".</u>

To apply for federal student aid, you should finish and present the Free Application for Federal Student Aid (FAFSA).

By finishing and presenting a FAFSA, you will naturally be considered for government understudy help. Furthermore, your state and school may utilize your FAFSA data to decide your qualification for nonfederal aid.

Finishing the FAFSA is a simple procedure, and it's totally free. We prescribe that you present your FAFSA web based utilizing FAFSA on the Web, as your application will process inside 3-5 days; on the other hand, you can present a paper FAFSA, which forms inside 7-10 days.

NNADVOKAT [17]3 years ago

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B.) Is the free application for federal student aid.

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Under the allowance method, bad debts expense is recorded with an adjustment at the end of each accounting period that debits th

Crank

Answer:

Dr. Allowance for Doubtful Accounts...1,200

Cr. Accounts Receivable....................................1,200

Explanation:

When a specific customer's account is identified as uncollectible, the journal entry to write off the account is:

A credit to Accounts Receivable (to remove the amount that will not be collected)

A debit to Allowance for Doubtful Accounts (to reduce the Allowance balance that was previously established)

Therefore the JOURNAL ENTRIES for the $1,200 uncollectible debt will be

Dr. Allowance for Doubtful Accounts...1,200

Cr. Accounts Receivable....................................1,200

8 0

3 years ago

Current liabilities are obligations that are reasonably expected to be paid from Existing Creation of Other Current Assets Curre

Alex73 [517]

Answer:

The answer is option C) Yes No

Explanation:

Current liabilities are obligations that are reasonably expected to be paid from Existing Creation of Other Current Assets and not current liabilities.

This is because, Current liabilities are short term liabilities due within a year. They include accounts payable, short term debt and overdraft. This means that payment can only be generated by current assets.

Current assets are also short term assets with a life span of on year. They include accounts receivable an cash.

Therefore, Yes, Current liabilities are obligations that are reasonably expected to be paid from Existing Creation of Other Current Assets.

And No, Current liabilities are obligations that are not expected to be paid from Existing Creation of Other Current Liabilities.

5 0

3 years ago

15. Rick Barr Inc. is considering a new product line that has expected sales of $500,000 per year for each of the next 5 years.

ozzi

Answer: A.) $250,900

Explanation:

Given the following ;

Working Capital = $10,000

Salvage value = $80,000

Cost of equipment = 800,000

Tax rate = 35%

Number of useful years = 5 years

The formula for cash flow is = EBIT * (1 - tax rate) + Depreciation + Salvage Value + Working Capital released

Depreciation = (cost - Salvage value) ÷ Number of useful years

Depreciation = $(800,000 - 80,000)/5

Depreciation = $720,000÷5 = $144,000

EBIT = Sales - Variable costs - Fixed costs - Depreciation

EBIT = $500,000 - $230,000 - $100,000 - $144,000

EBIT = $26,000

Cash flow = $26,000(1 - 0.35) +$144,000 + $80,000 + $10,000

Cashflow = $250,900

8 0

4 years ago

We would expect: a. the demand for Coca-Cola to be less price elastic than the demand for soft drinks in general. b. the demand

givi [52]

Answer: Option B

Explanation: In simple words, price elasticity refers to the degree of change that a commodity experiences due to change in its price.

In case of coca- cola, the price elasticity will be high as it has a close substitute available in the market named Pepsi. Therefore, if coca-coal increases its prices,its consumers would shift their demand to Pepsi.

Thus,from the above we can conclude that the correct option is B.

7 0

3 years ago

You are currently deciding whether to invest in data loss prevention software. You have some reliable statistics that the softwa

Zinaida [17]

Answer:no

Explanation:

5 0

3 years ago