Answer:
B) $23,000.
Explanation:
ABC's accumulated net income (or retained earnings) over the past four years = $8,000 + $5,000 + $12,000 + $10,000 = $35,000
ABC's accumulated dividends paid over the past four years = $3,000 x 4 = $12,000
Since dividends are paid using money that proceeds from retained earnings, the balance of the retained earnings account = accumulated retained earnings - accumulated dividends = $35,000 - $12,000 = $23,000
Answer: Please see the required journals below:
Mar. 17:
Debit Allowance for doubtful accounts $1,000
Credit Accounts receivable $1,000
July 29:
Debit Cash $1,000
Credit Bad debt recovery (income statement) $1,000
Explanation: On March 17, when $275 was received from Shawn and the remaining balance of $1,000 was written off, the allowance for doubtful accounts has to be debited since the company adopts the allowance method of accounting for uncollectible receivables. Note that the allowance account would have the required buffer to take care of this debit. Similarly, when the recovery was made, cash would be debited then the credit would default to income statement.
The ACTUAL answer to this question is Human Services focus on helping individuals live better lives rather than providing solely commercial or corporate services. Originally I thought this was the right answer but I wanted to make sure, so the other person who answered this question made me doubt myself and choose the wrong answer. I would've gotten 100% if this person ACTUALLY knew the right answer instead of guessing. Also I was thinking that Human Services isn't non profitable, but I blew off any doubts because I ASSUMED they'd write the right answer because if you're gonna answer a question on here you should be sure that the info is correct. Please rate the other answer 1 star so people know not to trust their answer.
Answer:
A. True
Explanation:
Arbitrage refers to a situation wherein a gain is made owing to price discrepancy or unevenness in two markets. The rule for arbitrage is to buy from the markets where price is less and sell in the markets where price is higher.
Triangular arbitrage occurs wherein 3 different currencies are involved and the exchange rates are not uniform i.e a discrepancy exists and interest rate parity does not hold true.
Interest rate parity refers to the concept wherein the disparity between two currency exchange rates is adjusted by the respective interest rates of the two countries. When interest rate parity exists, no arbitrage is possible as markets are fairly priced.
