Answer:
A) Allowance method of accounting bad debts
Explanation:
Based on the allowance method, the bad debts should be calculated on either credit sales i.e. income statement method or receivable aging method i.e. balance sheet method. Also, the account receivable should be recognized at net realizable value
Therefore the allowance method of accounting bad debts is an answer
Answer:
Total cost= $950
Explanation:
Giving the following information:
Direct labor= $12 per hour
Manufacturing overhead= $18 for each employee hour worked.
Job M-47:
used $350 of materials and took 20 hours of labor to complete
<u>We need to calculate the total cost of Job M-47:</u>
Total cost= direct material + direct labor + allocated overhead
Total cost= 350 + 12*20 + 18*20
Total cost= $950
Answer:
The yield today for 2-year Treasury securities is 4.27%
Explanation:
In order to calculate the yield today for 2-year Treasury securities we would have to calculate the following formula:
2-year treasury yield = [(1 + 1-yr treasury yield) * (1 + 1-yr treasury yield, 1 year from now)]1/2 - 1
= [(1 + 0.0415) * (1 + 0.044)]∧1/2 - 1
= [1.0873]∧0.5 - 1
= 1.0427 - 1 = 0.0427, or 4.27%
The yield today for 2-year Treasury securities is 4.27%
<u>Solution and Explanation:</u>
Amount realized 22,000 Minus: Basis 89,000 Loss recognized 67000
<u>answer a </u>) Since Karen is single she can guarantee this lose as a common misfortune to a limit of $50,000. Karen won't have the option to guarantee the whole $67,000 that she lost she can just guarantee $50,000.
<u>answer b) </u>Since Karen is recording a joint government form she can guarantee a lose of upto $100,000. Karen will have the option to guarantee the whole loss of $67,000.
<u>answer c )</u> With the stock being bought from another investor as opposed to the sorting out enterprise she can guarantee the whole loss of $67,000 as a captial gain misfortune.
<u>answer d )</u> B. By selling a segment of the stock in one year and the staying stock in one more year Karen could change over the whole misfortune on the deal to a normal misfortune.
P= percent change
The new number is lower than the original, so we need to use a % decrease formula.
P=[(original#-new#) ÷ original #] x 100
P= [(29.77-28.35)/29.77] x 100
P= (1.42/29.77) x 100
P= 0.047747 x 100
P= 4.77% decrease
Hope this helps! :)
