Answer:
27 days
Explanation:
The accrued interest is calculated by beginning the count of days from the dated date of the corporate bond up until the settlement, without including the settlement date.
From 1st June to 27th June, a day before settlement date makes 27 days, as a result, the number of days in respect of which interest is owed to the underwriter is 27 days
I believe the correct answer is D. Don’t hate me if I’m wrong
Answer:
Inelastic demand, Amputation procedure
Explanation:
The good with no close substitute is likely to experience inelastic demand because the consumer does not any close substitute to change to, this means that even when price is increased, the consumer is not likely to stop buying if the good is a necessary good.
The Amputation procedure will have least elastic demand because the diabetes sufferer does not have close substitute to change to when price increase while Diamond necklace is a luxury good, when the price is increased the consumer stop buying or switch to other luxury goods such as gold, silver that are equally used for decoration purposes.
Answer:
a. Allowance for doubtful accounts = Unadjusted balance + Adjusted balance
= $10,500 + $110,000
= $120,500
b. i)The adjusted balance of accounts receivable shall be $2,150,000(adjusted debit balance)
ii) Adjusted balance = Bad debt expense - Unadjusted balance
= $120,500 - $10,500
= $110,000 (Adjusted credit balance)
iii) Adjusted bad debt expense = Unadjusted balance of allowance for doubtful accounts + Adjusted balance allowance for doubtful accounts
= $10,500 + $110,000
= $120,500 (Adjusted debit balance)
c. Net realizable value = Gross accounts receivable - Allowance for doubtful accounts
= $2,150,000 - $110,000
= $2,040,000
