Explanation:
the study or principles of the way money, business and industry are organized
Answer:
Lionel Magazine
The Adjusting Journal Entry to record on July 31 for the first month of the advertising space sold includes a:
Debit to the Unearned Revenue account with $200
and
Credit to Earned Advertising Revenue account with $200
This will reduce the Unearned Revenue account by $200 being the amount for July (one month) and at the same time, increase the Earned Advertising Revenue account by $200.
Explanation:
a) Data and Analysis:
Unearned Revenue $200 Earned Revenue $200 ($1,200/6)
Answer:
"Shirley did not actually rely on Joe's misstatement" is the correct answer.
Explanation:
- Reliance means that the individual adopts a way to proceed due to various his/her confidence in a statement that she has established.
- For lack of understanding to occur, a causal relationship may well have been formed between some of the claims as well as the determination of the authority concerned to implement the arrangement.
- Because Shirley wasn't really conscious that someone had presented an argument, there would be no dependency. Therefore, she can't extrapolate a rescission upon this.
Answer:
buying puts
Explanation:
A put option is a sale option. It gives the buyer the right (but not the obligation) to sell an asset in the future to the seller of the option at a previously determined price.
The owner or buyer of a put option benefits from the option if the underlying asset falls, that is, if when the put option expires, the asset (a share for example) has a price lower than the agreed price . In that case, the option buyer will exercise his right and sell the asset at the agreed price and then buy it at the current market price, earning the difference.
If the price turns out to be higher than the agreed price, known as the strike or strike price, the buyer will not exercise his right and will simply have lost the premium he paid to acquire the option. Therefore, your benefit may be unlimited, but your loss is limited to the premium you paid.
The amount of uncollectible accounts expense recognized on the Year 2 income statement is $1,830.
Explanation:
- On January 1, Year 2, Grande Company had balance = $69,600 in the Accounts Receivable account
- Grande provided services = $183,000
- The Allowance for Doubtful Accounts account = $2,600
- The company collected cash from accounts receivable = $215,500
- Uncollectible accounts are estimated to be = 1% of sales on account
- Thus, following calculation gives the desired result,
- Multiply amount of Grande services with 1% sales on account.
- i.e : $183,000 sales on account × 1% = $1,830
- So, the amount of uncollectible accounts expense is $1,830 as the income statement for the 2nd year.
- The reserves are recorded when, the uncollectible accounts expense are debited and credit the allowance for the uncollectible accounts.
- There are many reasons for the uncollectible accounts such as,
- the debtor's bankruptcy,
- the inability to get the debtor,
- fraud, etc
