Answer:
7 loans were made to clients with Graduate education who also had 17 years of experience
Explanation:
We have to solve for which is the intersection between the two groups.
66 is the count for +17 years
83 is the count for Graduate
the two groups is 149 loans
Then, we have 142 loans which are not part of both groups. Therefore, the difference are the loan count which do belong to both groups:
149 total loans - 142 loans out = 7
Answer:
Fee Receivable$7,200
To Service Fees Earned $7,200
(Being the service fess earned is recorded)
Explanation:
Th adjusting entry is shown below:
Fee Receivable$7,200
To Service Fees Earned $7,200
(Being the service fess earned is recorded)
For recording this we debited the fees receivable as it increased the assets and credited the services fees earned as it increase the revenues
Since the payment is made for 6 months but we have to recorded for 4 months i.e computed from September 1 to December 31
= $10,800 × 4 months ÷ 6 months
= $7,200
Answer:
C. $385.7m
Explanation:
Enterprise value = Market value of equity + Market value of all types of debt - Cash in the balance sheet
Market value of equity = Current share price × number of shares outstanding
= $16 × 10.2 million shares
= $163,200,000
Market value of all types of shares = Market value of long term debt + Market value of current portion of long term debt + notes payable / short term debt
We assume that market value of debts = Book value of debts
Therefore,
Market value of debt = $227m + $40.7m + $10.9m
= $278.6 m
Cash in the balance sheet = $56.10 m
Therefore;
Enterprise value = $163.20m + $278.60 - $56.1
=$385.7 m
Answer:
A) Debit Accounts Receivable-M. Simmons and credit Bad Debts Expense: debit Cash and credit Accounts Receivable-M. Simmons.
Explanation:
June 16, 2018 (Simmons's debt is written off)
- Dr Bad Debts Expense account 200
- Cr Accounts Receivables account 200
Since Simmons's debt is written off as bad debt, accounts receivable must be decreased (credited) and the bad debt expense recorded (debited).
Oct 14, 2018 (Simmons pays his debt, first the write off must be reversed)
- Dr Accounts Receivables account 200
- Cr Bad Debts Expense account 200
Before recording the payment, the write off must be reversed.
Oct 14, 2018 (Simmons payment is recorded)
- Dr Cash account 200
- Cr Accounts Receivables account 200
Since the payment was received, cash should increase (debited) and the accounts receivable should decrease (credited).