Answer:
a. Bad Debt Expense 5100 Allowance for Doubtful Accounts 5100
Explanation:
The adjusting entry is shown below:
Bad debt expense $5,100
To Allowance for doubtful debts $5,100
(Being the bad debt expense is recorded)
The computation is shown below:
= Account receivable × estimated percentage - credit balance of allowance for doubtful debts
= $170,000 × 5% - $3,400
= $8,500 - $3,400
= $5,100
In order to recording this transaction, we debited the bad debt expense as it increases the expenses account whereas at the same time it reduces the account receivable therefore the allowance for doubtful debts is credited
Answer:
For First National Bank = 15.05%
For first United bank = 14.92%
Explanation:
The computation of EAR for First National Bank and First United Bank is shown below:-
Effective annual rate EAR = (( 1 + i ÷ n)^n) - 1
as
I indicates the annual interest rate
n indicates the number of the compounding period
For First National Bank
Annual interest rate i = 14.1%
Effective annual rate EAR is
= ((1 + 0.141 ÷ 12)^12) - 1
= 1.1505 - 1
= 0.1505
or
= 15.05%
For first United bank
Effective annual rate EAR is
= (( 1+ 0.144 ÷ 2)^2) - 1
= 1.1492 -1
= 0.1492
or
= 14.92%
Answer:
the future value is $21,534.44
Explanation:
The computation of the future value is shown below:
As we know that
Future value = Present value × (1 + interest rate)^number of years
where,
Present value is $15,000
The Interest rate is 7.5%
And, the number of the year is 5 years
Now put these values to the above formula
So, the future value is
= $15,000 × (1 + 0.075)^5
= $21,534.44
Hence, the future value is $21,534.44
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Answer:
C. Individualized consideration
Explanation:
Based on the information provided within the question it can be said that the component being illustrated in this scenario is individualized consideration. This term refers to the level to which a person in charge addresses the needs of his/her followers. Which Angela seems to be going above and beyond in order to address their needs by providing them with special attention, accepting differences, and creating opportunities for them.
