It’s D, marketing research
Answer and Explanation:
The Journal entry is shown below:-
a. Bad Debt Expense Dr, $36,800 ($40,000 – $3,200)
To Allowance for Doubtful Accounts $36,800
(Being the bad debt expense is recorded)
For recording this we debited the bad debt expense as it increased the expenses and at the same time it reduced the assets so the allowance for doubtful accounts is credited
b. Bad Debt Expense Dr, $40,730 ($40,000 + $730)
To Allowance for Doubtful Accounts $40,730
For recording this we debited the bad debt expense as it increased the expenses and at the same time it reduced the assets so the allowance for doubtful accounts is credited
Answer:
Last Fiscal Year:
Interest Expense = $5550
Current Fiscal Year:
Interest Expense = $11100
Explanation:
According to the accrual basis of accounting, the expenses and revenues relating to a certain period should be recorded in that particular period whether of not they have been received. The fiscal year of Kieso ends on 31 December and as the loan was taken one month prior to the start of the current fiscal year, it was taken at the start of December of last fiscal year.
This means that the interest expense on loan relating to last December will be charged to the last fiscal year and the interest expense relating to January and February will be charged to the current fiscal year. The interest expense amount will be calculated as follows,
Last Fiscal Year = 740000 * 9% * 1/12 => $5550
Current Fiscal Year = 740000 * 9% * 2/12 => $11100
Answer:
The correct answer is 3,175,300.
Explanation:
According to the scenario, the computation of the given data are as follows:
We can calculate the number of shares by using following formula:
Number of shares = [ Outstanding + ( Additional share × Months) + ( Additional share × Months)] × 1+Dividend
By putting the value, we get
= [2,600,000 + (280,000 × 6/12) + (280,000 × 3/12)] × 1.13
= [ 2,600,000 + 140,000 + 70,000 ] × 1.13
= 3,175,300
