Budget deficit is the condition that exist when the government raises less revenue then it spent
Use the formula of the present value of an annuity due which is
Pv=pmt [(1-(1+r)^(-n))÷r]×(1+r)
Pv present value 500000
PMT amount of the annual rent?
R rate of return 0.1
N time 20 years
Solve the formula for PMT
PMT=pv÷[(1-(1+r)^(-n))÷r]×(1+r)
PMT=500,000÷(((1−(1+0.1)^(−20))
÷(0.1))×(1+0.1))
=53,390.73 round your answer to get 53391
Answer:
A. the computers are identified to the contract.
Explanation:
The buyer has the right to recover all the goods when the seller suddenly becomes insolvent. Also where the buyer wishes to receive all the goods and also a substantial prepayment is already made and then the buyer finds out the seller has become insolvent.
Under the UCC Section 2-502, it allows the buyer to recover all the goods if the below conditions are met:
- the goods or the items must be identified to the contract
- if the buyer had paid a part of the purchase price or have made full payment
- if the buyer is willing to pay if any balance due
- after the first installment, the seller must become insolvent.
Therefore, in the context, Legal Services can recover all the computers if the computers are identified to the contract.
Answer:
Option D Allowance for noncollectable Accounts.
Explanation:
The bad debt recovery recording is a two step process.
Step 1 Reverse the entry of bad debt with the amount received
Dr Trade Receivable $40,000
Cr Bad debts $40,000
Step 2 Now record the receipt of amount as a reduction in trade receivable and increase in cash asset.
Dr Cash $40,000
Cr Trade Receivables $40,000
The only account unconsidered here was Allowance for the noncollectable account.
