Hello!
<span>The check amount is recorded in the check Stub
</span><span>I subtract the check amount from the Balance forward
</span><span>The amount you record on the check is referred to as Debit
</span><span>In order to cash your check you must Endorse it
</span><span>When buying clothes, I use a Check instead of paying cash.
</span><span>If the bank makes a mistake on your account, they will Credit your account for the amount of the mistake.
</span><span>A mistake was made when writing my check, therefore, I must void it
</span><span>I sign the Signature line to validate the check
</span><span>When filling in the amount line I fill in the remaining space with a line.
</span><span>The account number is the lower left-hand corner of the check.
The answers are the bold words
Hope this helps!</span>
Answer:
$395,000
Explanation:
Bad Debt expense:
= 1.5% of sales will be uncollectible
= 1.5% × $1,000,000
= 0.015 × $1,000,000
= $15,000
Allowance for Doubtful accounts:
= Bad Debt expense - accounts receivable written off
= $15,000 - $10,000
= $5,000
Net realizable value:
= Accounts receivable - Allowance for Doubtful accounts
= $400,000 - $5,000
= $395,000
Answer:
24 million shares ; $16 million
Explanation:
The computation of the weightage number of treasury shares are shown below:
Number of shares Price Total
2 $22 $44 million
1 $28 $28 million
Total 3 $72 million
So, the weighted average number of shares would be
= $72 ÷ 3 = 24 million shares
Now the journal entry would be
Cash A/c Dr $64 million (2 million treasury shares × $32)
To Paid in capital - share repurchase A/c $16 million
To Treasury stock $48 million (24 million treasury shares × $2)
(Being the treasury shares are sold)
