Answer:
a) See the image attached for the sheet of closing entry
b) New balance = (174000-111000-12000) = 51000
Answer:
Please refer the attachment to have the solution with explanation
Answer:
$2.8 divdends per share
Explanation:
$56 market price
Rate of return 10%
The gain for an investment in stocks is:

In this case we are told that this is distribute evenly, this means:
dividends paid = market price gain
So dividends yield 5% and market price yields another 5% to achieve the 10%
So currently $56 market price x 0.05% = $2.8 divdends per share
Answer:
$5,750
Explanation:
The computation of the balance in the allowance for doubtful accounts after bad debt expense is shown below:
= Account receivable × estimated percentage - credit balance of Allowance for doubtful accounts
= $295,000 × 0.03 - $3,100
= $8,850 - $3,100
= $5,750
By deducting the credit balance from the estimated amount we can find out the balance in the allowance for doubtful accounts