Answer:
Debit Bad debt expense $19,000
Credit Allowance for doubtful debt $19,000
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
Where a debit that had previously been determined to have gone bad gets settled, debit cash and credit bad debt expense.
Amount that may be uncollectible
= 4% * $600,000
= $24,000
Given that the Allowance for Doubtful Accounts has a $5,000 credit balance before adjustment, the additional amount to be adjusted for
= $24,000 - $5,000
= $19,000
The 4-year term instrument's nominal rate is higher than the 2-year term instrument's nominal rate.
What is nominal rate?
The increase in payment you make to the lender for using the borrowed funds is known as the nominal interest rate.
The rate of compounding is higher for 2-year investments than for 4-year investments, which are compounded semi-annually.
As a result, option (b) is correct.
Learn more about on nominal rate, here:
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Answer:
False
Explanation:
A sole proprietorship is owned and managed by a single person. The owner is responsible for all the decisions and actions of his or her business. The owner may hire workers to assist in running the business. The workers remain workers and not partners in the business.
The law does not distinguish between the business and the owner. Any liabilities arising from the business are considered to be the owner's liability. In this wedding situation, the sole proprietor is solely responsible for the mistakes of his assistant.
Answer:
A) kiosk
Explanation:
Based on the information provided within the question it can be said that in this scenario the vending machines in the airport is a kiosk. This term refers to physical structure which is used either to display information to passing strangers or to provide the individuals passing by with a product or service. Which in this case the structure/vending machine is providing beauty products.
Answer:
Percentage of total return on Investment = <em>ROI = 17% </em>
Explanation:
Let’s
ROI = Return on Investment = ?
D = Dividends = $15
CGD = Capital Gain Distributions = $35
CGS = Capital Gain on Sale = $120
SP = Shares Purchased = 100
CS = Cost per share = $10.00
ROI = (D + CGD + CGS) / (SP * CS)
ROI = ($15 + $35 + $120) / (100 * $10.00)
ROI = 170 / 1,000
ROI = 0.17
Percentage: 0.170 x 100%
<em>ROI = 17% </em>
