Answer:
1. Allowance for uncollectible accounts A/c Dr $15,000
To Account receivable A/c $15,000
(Being write off amount is recorded)
2. $1,000 debit
Explanation:
1. The journal entry is shown below:
Allowance for uncollectible accounts A/c Dr $15,000
To Account receivable A/c $15,000
(Being write off amount is recorded)
2. And, the balance of Allowance for Uncollectible Accounts would be
= Beginning balance of estimated uncollectible accounts - written off balance
= $14,000 - $15,000
= $1,000 debit
Answer:
The market price/value of the share of preferred stock is $74.62
Explanation:
The preferred stock pay 10.2% return on $100 per share which comes out to be 100 * 10.2% = $10.2. This dividend will remain constant no matter what the price in the market is. The price in the market is calculated by dividing the ineterest payment by the current price of the share. The formula for the current return of the preferred stock is:
0.1367 = 10.2 / P
P = 10.2 / 0.1367
P = $74.615 rounded off to $74.62
The likely reason as to why this ad is most likely to work
is because of emotional appeals by which they are likely to work well with the
social identity products that could be describe and read from the scenario
above.
Answer:
Personal finance skills help you to understand how much you earn, what are your monthly expenses, and help you budget within that income.
Explanation:
Answer:
$844,000
Explanation:
Given that,
Accounts Receivable = $900,000
Credit balance of Allowance for Doubtful Accounts per books before adjustment = $50,000
Expected amount of uncollectible = $56,000
Bad debt expense at the end of the period is determined by subtracting the credit balance of allowance for doubtful accounts from the expected amount of uncollectible.
Bad debt expense:
= Expected amount of uncollectible - Credit balance
= $56,000 - $50,000
= $6,000
At the end of the period, the allowance for doubtful accounts has a balance of $56,000 that are to be uncollectible.
The cash realizable value of the accounts receivable at December 31, after adjustment, is determined by simply subtracting the Allowance for doubtful accounts from the accounts receivable. It is calculated as follows:
= Accounts Receivable - Allowance for doubtful accounts
= $900,000 - $56,000
= $844,000
