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4 years ago

People generally file for bankruptcy because they:

1 answer:

3 0

The correct answer is A) Have more debt than they can pay because there are laws, generally by the state, that limit when people can file for bankruptcy. You are not allowed to file for bankruptcy unless you are unable to afford your debts. Choices B, C, and D, along with being illegal, are also unethical, especially in terms of business.

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Rent collected in advance is: Multiple Choice A shareholders' equity account in the balance sheet. A temporary account, not in t

gulaghasi [49]

Answer:

A liability account in the balance sheet.

Explanation:

When rent is collected in advance, the entries required to be recognized at the point of collection is as follows;

Debit Cash account

Credit Unearned/Deferred rental revenue

The cash account is an asset while the Unearned/Deferred rental revenue is a liability account.

As such, the collection of rent in advance is A liability account in the balance sheet.

3 0

3 years ago

If a firm averages $2,000 in daily credit sales and offers 60-day terms, the average accounts receivable balance will be $120,00

Alexeev081 [22]

Answer:

a. True

Explanation:

The computation of the average accounts receivable balance is shown below:

= Daily credit sales × day terms

= $2,000 × 60 days terms

= $120,000

We simply multiplied the average amount with the day term so that the average account receivable balance could come

Hence, the given statement is true

Therefore the correct option is a.

8 0

3 years ago

Exercise Bicycle Company is expected to pay a dividend in year 1 of $1.20, a dividend in year 2 of $1.50, and a dividend in year

prisoha [69]

Answer:

E. $40.68

Explanation:

The computation of the stock worth today is shown below:

= (Dividend in year 1 ÷ 1 + required rate of return^number of years ) + (Dividend in year 2 ÷ 1 + required rate of return^number of years) + (Dividend in year 3 ÷ 1 + required rate of return^number of years) + (Dividend in year 3 ÷ 1 + required rate of return^number of years) × (1 + growth rate) ÷ (required rate of return - growth rate)

= $1.2 ÷ 1.14 + $1.5 ÷ 1.14^2 + $2 ÷ 1.14^3 + $2 ÷ 1.14^3 × (1 + 10%) ÷ (14%-10%)

= $40.68

We simply applied the above formula

3 0

4 years ago

Malcolm sanders, a graduate student from boston, makes customized snowboards for local snowboarding enthusiasts. the demand for

Anestetic [448]

The market segmentation approach that Malcolm most likely is using is the occasion segmentation. The occasion segmentation is where products provided or produced are only showed or apt in an event or an occasion in which it is seen above that the product peaks is only during winter months.

3 0

4 years ago

You have been asked to review the December 31, 2021, balance sheet for Champion Cleaning. After completing your review, you list

yarga [219]

Answer:

Champion Cleaning

Appropriate Classifications:

Long-term assets:

Investment of $30,000

Current liabilities:

Short-term note payable $10,000

Short-term deferred revenue $40,000

Long-term liabilities:

Long-term note payable $90,000

Long-term deferred revenue $20,000

Explanation:

a) Data and Analysis:

Investment of $30,000 = long-term asset

Note payable:

Short-term note payable = $10,000 ($100,000/10)

Long-term note payable = $90,000 ($100,000/10 * 9)

Deferred Revenue:

Short-term deferred revenue = $40,000 ($60,000 * 2/3)

Long-term deferred revenue = $20,000 ($60,000 * 1/3)

5 0

4 years ago