1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
BabaBlast [244]
3 years ago
6

Stephanie Roe utilizes the direct write-off method of accounting for uncollectible receivables. On September 15, she is notified

by the attorneys for Jacob Marley that Jacob Marley is bankrupt and no cash is expected in the liquidation of Jacob Marley. Write off the $4,970 of accounts receivable due from Jacob Marley.
Business
1 answer:
Iteru [2.4K]3 years ago
5 0

Answer:

Dr Bad Debts $4,970

Cr Accounts Receivables $4,970

Explanation:

The bad debts are confirmed and once it is confirmed it is written off by decreasing the accounts receivables by the amount as the amount is not now receivable and increase the bad debt expense because this is cost to the company. The bad debts confirmed are accounted for as under:

Dr Bad Debts $4,970

Cr Accounts Receivables $4,970

You might be interested in
Which of the following is an accurate paraphrase of the statement below?
Bumek [7]
I would say B is the correct answer
3 0
4 years ago
When clara began measuring the depth and quality of relationships salespeople developed with customers, she was practicing , put
Varvara68 [4.7K]

The correct answer is management by means in which is followed after the word ‘she was practicing’. It is likely she is using MBM or also known as management by means as this focuses more on having to achieve goals with the use of right process and that when followed, this will likely be followed with the outcome that is desired in which Clara is engaging to.

5 0
4 years ago
Read 2 more answers
Exodus Limousine Company has $1,000 par value bonds outstanding at 15 percent interest. The bonds will mature in 30 years. Compu
nasty-shy [4]

Answer:

if YTM at 4% price :  $2,902.1237

if YTM at 8% price :  $1,788.0448

The bonds are above face value asthey offer a higher coupon payment than the market yield therefore the bond holders are willing to pay above theri face value

Explanation:

the market price of the bond will be the present value of coupo payment and maturity:

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 150.000

time 30

rate 0.04

150 \times \frac{1-(1+0.04)^{-30} }{0.04} = PV\\

PV $2,593.8050

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity   1,000.00

time   30.00

rate  0.04

\frac{1000}{(1 + 0.04)^{30} } = PV  

PV   308.32

PV c $2,593.8050

PV m  $308.3187

Total $2,902.1237

No we repeat the process with the yield at 8%

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 150.000

time 30

rate 0.08

150 \times \frac{1-(1+0.08)^{-30} }{0.08} = PV\\

PV $1,688.6675

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity   1,000.00

time   30.00

rate  0.08

\frac{1000}{(1 + 0.08)^{30} } = PV  

PV   99.38

PV c $1,688.6675

PV m  $99.3773

Total $1,788.0448

7 0
3 years ago
What was the stated purpose of the Food Administration during the Great War? A. It was to set up food banks for Americans B. It
Ulleksa [173]

Answer: The stated purpose of the food administration during the great war was to reduce food consumption by civilians (B)

Explanation:

The U. S. Food Administration was the department responsible for the administration of the United States army abroad and food reserves of its allies during the World War 1. An important role of the United States Food Administration was the regulation of the price of wheat in the market.

During the war, the United States was short of commodities because the commodities were sold to their allies hence, every citizen were asked to donate horses, weapons and ammunition they had to help supply the army. It was done so that food for soldiers wouldn't be an issue.

6 0
4 years ago
Read 2 more answers
A firm currently has a debt-equity ratio of 1/2. The debt, which is virtually riskless, pays an interest rate of 6%. The expecte
Svetradugi [14.3K]

Answer:

Expected return on equity is 11.33%

Explanation:

Using Weighted Average Cost Capital without tax formula, overall rate of return is given by the formula:

WACC=(Ke*E/V)+(Kd*D/V)

Kd is the cost of debt at 6%

Ke is the cost of equity at 12%

D/E=1/2 which means debt is 1 and equity is 2

D/V=debt/debt+equity=1/1+2=1/3

E/V=equity/debt+equity=2/1+2=2/3

WACC=(12%*2/3)+(6%*1/3)

WACC=10%

If the firm reduces debt-equity ratio to 1/3,1 is for debt 3 is for equity

D/V=debt/debt+equity=1/1+3=1/4

E/V=equity/debt+equity=3/1+3=3/4

WACC=10%

10%=(Ke*3/4)+(6%*1/4)

10%=(Ke*3/4)+1.5%

10%-1.5%=Ke*3/4

8.5%=Ke*3/4

8.5%=3Ke/4

8.5%*4=3 Ke

34%=3 Ke

Ke=34%/3

Ke=11.33%

4 0
3 years ago
Other questions:
  • At the end of the year, Ilberg Company provided the following actual information:
    9·1 answer
  • Managers of profit centers usually have a. ​Given excessively high bonuses b. ​No discretion over decisions c. ​Most of their de
    10·2 answers
  • PLEASE HELP. QUESTIONS AT THE BOTTOM, TOP PART IS SOME LORE PER SAY.
    11·1 answer
  • Along a straight line downward sloping demand curve, elasticity is Constant but its value cannot be determined without measureme
    10·1 answer
  • Laworld Inc. manufactures small camping tents. Last year, 200,000 tents were made and sold for $60 each. Each tent includes the
    14·1 answer
  • A physical count of supplies on hand at the end of May for Masters, Inc. Indicated $1,250 of supplies on hand. The general ledge
    9·1 answer
  • To compare themselves to peers, Bryan Air has a consultant to monitor customer service metrics such as customer satisfaction aga
    12·1 answer
  • A liquidity ratio measures the Group of answer choices income or operating success of an enterprise over a period of time. abili
    15·1 answer
  • Because your patented Gidgit is starting to gain attention and investors are starting to show interest, the executive committee
    5·1 answer
  • Imagine the local government banned students from purchasing items before or after school without a parent. If you wanted to cha
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!