Answer:
$24,000
Explanation:
Since in the question it is given that the 3% of credit sales is considered to be a bad debt expense
where,
Credit sales is $800,000
And, the estimated percentage is 3%
So by considering this above information, the amount debited to bad debt expense is
= $800,000 × 3%
= $24,000
All the other information i.e to be given is not relevant. Hence, ignored it
Answer:
E. None of the above is correct.
Explanation:
Answer:
≅ 21.8%
Explanation:
The Return on Equity can be calculated by ,
ROE = Net Profit Margin × Return asset × Financial leverage
Net profit margin = Profit margin = 12%
Return Asset = Total Asset turnover = 1.4
Financial leverage = Equity Multiplier = 1.3
Therefore,
ROE = 12 × 1.4 × 1.3
= 21.84% .
Answer:
d. account This answer is correct
Explanation:
There are various types of accounts that are reported in the financial statements. The financial statement comprises of the income statement, balance sheet, statement of stockholder equity and the cash flow statement.
The recording of the increase in the specific asset, liability, revenue, expense, etc is called as an account
Just in net income, the revenue and expense account is reported. The asset, liability, stockholder equity which is reported in the balance sheet. The change in the values of the item is reported in the respective amount
The equity investment ( sheridan )account on December 31, 2021 is $5,20,000
As per the fair value technique, equity Investments must be stated at the fair value of the funding at the date of reporting. In this situation there is no fair value, therefore fairness Investments ought to be mentioned at buy charge.
A fair fee is an anticipated charge at which an asset is offered or offered when both the client and seller freely agree on a fee. People and corporations may additionally compare modern-day marketplace value, growth ability, and replacement value to determine the fair price of an asset.
An equity investment is a cash that is invested in an organization by means of buying shares of that organization within the stock market. those shares are generally traded on a stock exchange.
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