Answer: Bad Debt Expense 28,000 Allowance for Doubtful Accounts 28,000
Explanation:
Account receivable = 300,000
Percentage uncollectible = 10%
Current balance = 2000
Adjustment to allowance for uncollectible accounts is given by :
(Account receivable ×percentage uncollectible) - current balance
(300,000 × 10%) - 2000
(300,000 × 0.1) × 2000
30,000 - 2000 = 28,000
Therefore, adjustment should be :
bad debt expense debit 28,000
allowance for doubful account credit 28,000
<h3><em>Answer:</em></h3><h3><em>Answer:For a self-employed individual, contributions are limited to 25% of your net earnings from self-employment (not including contributions for yourself), up to $61,000 for 2022 ($58,000 for 2021; $57,000 for 2020). You can calculate your plan contributions using the tables and worksheets in Publication 560</em></h3>
Answer:
The answer is $41.21
Explanation:
Required Rate of Return = Risk Free Rate + Beta*(Market Risk Premium)= 5.2% + 0.9 * 6% = 10.6%
Cost of Equity = D1/Current Stock Price + Growth Rate
10.6% = $3/$40 +g
g = 3.1%
Stock Price After 3 Years = Current Stock Price*Growth Rate= $40 * (1.031)= $41.21
The requirement of Kameron, Candice, and Leo should be for pledging the personal assets in order to give the guarantee for the payment obligations with respect to the PU.
The information related to the pledged asset is as follows:
- A pledged asset is a valuable possession that could be transferred to the lender in order to secure the debt or a loan.
- The pledged asset should be considered as collateral that could be held by a lender and in return, it is for lending the funds.
- Also, it can decrease the down payment that should be needed for the loan along with this if there is any change in the interest rate so the same should be decreased.
Therefore we can conclude that, the requirement done by these three people is needed for pledging the personal assets in order to give the guarantee for the payment obligations with respect to the PU.
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Answer:
the adjusted cash balance as on April 30,2018 is $77,800
Explanation:
The computation of the adjusted cash balance as on April 30,2018 is as follows;
= Balance as per bank statement + deposit in transit - outstanding checks
= $78,800 + $9,300 - $10,300
= $77,800
Hence, the adjusted cash balance as on April 30,2018 is $77,800
We simply applied the above formula so that the accurate value could arrive
