Answer:
$8,870
Explanation:
Calculation to determine the balance in the allowance for doubtful accounts after bad debt expense is recorded
Using this formula
Balance in the allowance for doubtful accounts=
(Credit sales* Percentage of Credit sales)+Allowance for doubtful accounts credit balance
Let plug in the formula
Balance in the allowance for doubtful accounts= ($458,000*1.5%)+$2,000
Balance in the allowance for doubtful accounts=$6,870+$2,000
Balance in the allowance for doubtful accounts=$8,870
Therefore the balance in the allowance for doubtful accounts after bad debt expense is recorded will be $8,870
Answer:
Explanation:
Acceptance conditions (AC) are the requirements that may be met by a software application to be approved by a company, a consumer, or other programs. These are special to each user experience and describe the features from the point of view of the
One of the project manager’s primary functions is to accurately document the deliverables of the project and then manage the project so that they are produced according to the agreed-on criteria. Deliverables are the output of each development phase, described in a quantifiable way.
Answer:
The Uniform Standards of Professional Appraisal Practice (USPAP) provides flexibility for professionals that have multiple roles like being a broker and an appraiser at the same time.
USPAP requires that appraisers must not misrepresent their roles if they also act as brokers or agents. That means that as long as appraisers are not doing something that misrepresents his/her appraiser role, then there is no limitation on performing other roles.
But if the appraiser is requested to sign a report as an appraiser, then USPAP rules apply and his/her appraiser role should be given priority.
Answer:
The correct options are C and A
Explanation:
Under the method of direct write off of the accounting for uncollectible receivables, the journal entry should be recorded in the books is as follows:
On September 15
Bad debt expense A/c.................................... Dr $675
Accounts receivable- Jacob Marley A/c........Cr $675
When the company is notified of the bankruptcy of the Jacob Marley, then the above following entry is to be recorded as the bad debt expense, got increases and any increase is debited. Therefore, the account of bad debt expense is debited. And the balance of the accounts receivable of Jacob Marley has been reduced because the amount is unrecoverable so any decrease is credited. Therefore, the account of accounts receivable of Jacob Marley is credited.
Answer: 1.76
Explanation:
Given the following :
R=1.02,
S0 = 100
u=1/d= 1.05
Strike(k) = 102
Total Payoff = (probability of upside × upside Payoff) + (probability of downside × downside Payoff)
Upside Price = u × S0 = 1.05 × 100 = 105
downside Price = S0/u = 100/1.05 = 95.24
Upside Payoff = upside price - strike rate =(105 - 102) = 3
Upside probability :
[e^(r - q) - d] / u - d
E = exponential, q = Dividend (Dividend is 0, since the stock does not pay dividend)
d = 1/d = 1/1.05 = 0.9523809
e = 2.7182818
[2.7182818^(1.02% - 0) - 0.9523809] / (1.05 - 0.9523809)
[1.0102521 - 0.9523809] / 0.0976191
0.0578712 / 0.0976191
= 0.5928266
Probability of downside = 1 - p(upside)
P(downside) = 1 - 0.5928266
P(downside) = 0.4071733
Therefore, total Payoff =
(0.5928266 × 3) + (0.4071733 × 0)
= 1.7784798
European. Call option:
Total Payoff / (1 + r%)
1.7784798 / (1 + 1.02%)
=1.7784798/ (1 + 0.0102)
= 1.7784798 / 1.0102
= 1.7605224
= 1.76
