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Rasek [7]
3 years ago
7

Q 8.8: What is the effect of the collection of an account that had been previously written off under the allowance method of acc

ounting? A : It will increase income in the period it is collected. B : It requires a correcting entry for the period in which the account was written off. C : It will decrease income in the period it is collected. D : It does not affect income in the period it is collected.
Business
1 answer:
lisov135 [29]3 years ago
7 0

Answer:

The answer is: A : It will increase income in the period it is collected.

Explanation:

Under the allowance method, the company estimates bad debt expenses. So any bad debt written off will affect only the balance sheet by:

  • Dr Allowance for doubtful accounts
  • Cr Accounts receivable

If unexpectedly your client decides to pay their debt, this should be recorded as:

  • Dr Accounts receivable
  • Cr Allowance for doubtful accounts

and then the payment should be recorded increasing the income for the current period:

  • Dr Cash
  • Cr Accounts receivable

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Bill Dukes has $100,000 invested in a 2-stock portfolio. $50,000 is invested in Stock X and the remainder is invested in Stock Y
ohaa [14]

Answer:

the portfolio´s beta is 1.65

Explanation:

when the individual calculation of beta has been given, is possible to aggregate them as a weigthed average, so it is possible to apply te next formula

Beta Portfolio=w_{1} *\beta _{1}+ w_{2} *\beta _{2} + .... + w_{n} *\beta _{n}

where w is the weigthed value for each asset, in this particular case we have:

Beta Portfolio = \frac{50.000}{100.000}*1.50 +\frac{50.000}{100.000}*1.70

so with this result we get 1.65

8 0
3 years ago
Of these common educational requirements for Finance careers, select those you are most interested in achieving. Check all that
Nataly [62]

Answer:

The correct options are Advanced degree after a traditional four year college degree and On the Job training Experience.

Explanation:

If I like to persuade my career in the Finance Field, I would definitely go for the Four Year degree program in finance and then do Advance education in the concerned field. Then i would like to get the on the job training experience in the finance department of a renowned company to have a true learning experience of the finance field in real time. This would prepare me to become fully knowledgeable about the finance matters before entering into the market as a finance professional. So getting advance degree after basic degree in finance and getting the on the job training would be my choices for Finance Careers.  

3 0
3 years ago
Read 2 more answers
If the federal government or a state government brings a criminal lawsuit against a defendant for the alleged commission of a​ c
Nat2105 [25]

Answer:

Procedural due process.

Explanation:

Procedural due process is a doctrine that requires government officials to follow fair procedures before depriving a person of life, liberty, or property. Procedural due process is required by the Due Process Clauses of the Fifth and Fourteenth Amendments of the United States. When the government seeks to deprive a person of one of those interests, procedural due process requires at least for the government to afford the person notice, an opportunity to be heard and a decision made by a neutral decision maker. The rights that apply equally to civil due process and criminal due process are:

  • An unbiased trial.
  • Notice of the proposed action and the grounds asserted for it.
  • The opportunity to present reasons for the proposed action not to be taken.
  • The right to present evidence, including the right to call witnesses.
  • The right to know the opposing evidence.
  • The right to cross-examine adverse witnesses.
  • A decision based only on evidence presented.
  • Opportunity to be represented by counsel.
  • A requirement that the tribunal prepare a record of the evidence presented.
  • A requirement that the tribunal prepare written findings of fact and the reasons for its decision.

Not all the above rights are guaranteed in every instance. At minimum, a person is due only notice, an opportunity to be heard and a decision by a neutral decision maker. Courts use tests to decide if a person should be guaranteed any of the procedural aforementioned rights.

5 0
3 years ago
Parsley, a world-famous chef, signs a contract to give lessons in French cooking to Curry. Parsley wants to transfer his duties
Margarita [4]

Answer:

C. <u>not valid because performance depends on Parsley's personal skills</u>

Explanation:

A valid contract refers to an agreement entered into by parties which legally binds both parties and is enforceable under the law.

For a contract to be termed as valid, it must be performed by the parties to it.

Performance clause in a valid contract refers to doing or acting in a way as is required by the terms of the contract.

In the given case, Parsley signed a contract to provide services i.e provide French cooking lessons to Curry. Later, Parsley wants to transfer his duties to Relish.

The transfer will not be valid since the performance i.e service to be provided by Parsley are of personal nature and the consideration is based upon that. No two individuals can provide exact services.

8 0
3 years ago
Is there a potential problem if governments continually finance goods and services by borrowing money ? A.Yes, it is unconstitut
frosja888 [35]
The answer is B,"Yes, eventually their debts must be repaid with interest.

4 0
3 years ago
Read 2 more answers
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