Answer:
Bad Debt expense = Allowance for uncollectible debit + (Estimated uncollectibles)
= 1,900 + (15% * 116,000)
= $19,300
1.
Dec. 31 DR Bad debt expenses $19,300
CR Allowance for Uncollectable $19,300
2. Balance Sheet;
= 116,000 * 15%
= $17,400
Income Statement;
= $19,300
3. Net realizable value
= Accounts receivable - Estimated uncollectibles
= 116,000 - 17,400
= $98,600
Available Options:
He could try to save more money.
He could get a student loan for the extra amount he
needs.
TO He could apply for a scholarship
He could ask his friends to loan him money.
He could ask his family to contribute.
Answer:
All of the above
Explanation:
The best option is to be self reliant which means that Justin must apply for scholarships, save money now and during the program execution and if still there are any expenses due then he can ask his family to contribute to meet his exense and still if there are unpaid expenses then he can borrow from his friends if he thinks that he can repay the loan to his friends in the mutually agreed time. If Justin can not pay its amount borrowed then he must consider long term loan option to fund his studies.
The order of finance is given as under:
- Save Money
- Scholarship
- Ask his Family
- Loan from Friend
- Long term Loan
Answer: b. Sales Returns, Wages, Machinery, Discount Allowed
Explanation:
Sales returns reduce the sales made. Sales are put on the credit side so transactions that will reduce sales such as sales returns would have to go on the debit side.
Wages are an expense and expenses are debited to show they are increasing so they have a debit balance.
Machinery is an asset and assets have debit balances.
Discount allowed reduces the sales balance and as mentioned above, transactions that reduce sales go on the debit side so this has a debit balance as well.
The correct option is D.
When one is about to start using a particular social media, it is needful that one first creates a trial for some important reasons. Firstly, creating a trial gives one the opportunity to become familiar with the program, so that one will know what using the media entails. Creating a trial also gives one the opportunity to decide whether the social media is fit for one's needs or not. During this period, one will surely make some mistakes, but their impacts will be minimized because one is just trying out the social media.
Answer:
B. 4 years
Explanation:
As per the certain life income period, the guaranteed payments for the recipient lifetime or the specified time duration whichever is more.
Now if the recipient dies before the certain period ended, so the payments would be continued to the other beneficiary unless there is an end for the certain period
So, in the given situation, the payments would be received for
= 10 years - 6 years
= 4 years
Hence, the correct option is B. 4 years
