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3 years ago

Charged off as bad debt canceled by credit grantor. True or False

Business

1 answer:

guajiro [1.7K]3 years ago

7 0

Answer:

"Charge off" means that the credit grantor wrote your account off of their receivables as a loss, and it is closed to future charges. When an account displays a status of "charge off," it means the account is closed to future use, although the debt is still owed.

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In 2020, Mowchan Inc. acquired Sanchez Co. and recorded goodwill of $290 million as a result. The net assets (including goodwill

Stels [109]

Answer:

$170 million

Explanation:

First we must calculate the implied fair value of goodwill:

fair value of goodwill = Sanchez's fair value - Sanchez's asset valuation = $1,020 million - $900 million = $120 million

impairment loss = recorded goodwill - fair value of goodwill = $290 million - $120 million = $170 million

An impairment loss is a loss generated by the decline of an asset's fair value.

3 0

2 years ago

Upon beginning her career at davidson inc., a small consulting firm, stephanie benjamin receives a copy of the firm's organizati

7nadin3 [17]

Upon beginning her career at Davidson inc., a small consulting firm, Stephanie Benjamin receives a copy of the firm's organization chart, which will clarify positions and reporting relationships within the firm. Correct answer: B
<span> The organization chart illustrates the relationships among positions within an organization . The chart has usual five elements: job design, departmentalization, delegation, span of management, and chain of command.</span>

6 0

2 years ago

Earned net income of $65,000 after deducting depreciation of $8,000 and all other expenses. Current assets decreased by $7,000,

Drupady [299]

Answer:

Cash provided by operating activities is 89.000

Explanation:

The indirect method involves the adjustment of net income with changes in balance sheet accounts to arrive at the amount of cash generated by operating activities.

It depends on the account if it is added or subtracted to net income. Below you will find the added account with a plus (+) and the subtracted ones with a minus (-)

Notice the amounts of any decreases are in parentheses.

Net income 65.000

Adjustment to reconcile the net income to cash

+ Depreciation expense 8.000

+ Current assets decrease 7.000

+ Current liabilities increase 9.000

Net cash 89.000

7 0

2 years ago

Beckett, Inc., has no debt outstanding and a total market value of $200,000. Earnings before interest and taxes, EBIT, are proje

FrozenT [24]

Answer:

Beckett, Inc.

Earnings Per Share:

a-1. Earnings Per Share:

Economic Conditions Normal Expansion Recession

Earnings before interest and taxes = $30,000 $35,400 $24,000

Earnings per share:

Recession = $24,000/8,000 $3.00

Normal = $30,000/8,000 $3.75

Expansion = $35,400/8,000 $4.43

a-2. Percentage changes in EPS:

Recession = -$0.75/$3.75 x 100 = -20%

Expansion = $0.68/$3.75 x 100 = 18.13%

b-1. EPS after recapitalization:

Economic Conditions Normal Expansion Recession

Earnings before interest and taxes = $30,000 $35,400 $24,000

Interest at 8% $8,000 $8,000 $8,000

Earnings after interest $22,000 $27,400 $16,000

Earnings per share:

Recession = $16,000/8,000 $2.00

Normal = $22,000/8,000 $2.75

Expansion = $27,400/8,000 $3.43

b-2. Percentage changes in EPS:

Recession: -$0.75/$2.75 x 100 = -27.27%

Expansion: $0.68/$2.75 x 100 = 24.73%

Explanation:

1. Data:

Market Value = $200,000

Economic Conditions Normal Expansion Recession

Earnings before interest and taxes = $30,000 $35,400 $24,000

Issue of debt for $75,000 with 8% interest

Proceeds to repurchase shares of stock.

Outstanding shares = 8,000

Ignore taxes

5 0

2 years ago

How might reading about a case or hearing about it on TV influence jurors?

NikAS [45]

Answer:

jurors are informed about certain facts prior to hearing them

Explanation:

8 0

1 year ago