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Oliga [24]
3 years ago
11

Using the aging method, Carlton Company calculates the estimated ending balance in the Allowance for Uncollectible Accounts to b

e $12,000. Prior to adjusting entries, the Allowance for Uncollectible Accounts has a credit balance of $3,000. The year-end adjustment would include a:
Business
1 answer:
guajiro [1.7K]3 years ago
6 0

Answer:

Explanation:

The journal entry to record the bad debt expense is shown below:

Bad debt expense A/c Dr  $9,000

                 To Allowance for doubtful debts $9,000

(Being bad debt expense is recorded)

The computation of the bad debt expense is shown below:

= (Ending balance in the Allowance for Uncollectible Accounts) - (credit balance of Allowance for Doubtful Accounts)

= ($12,000) -  ($3,000)

= $9,000

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5 0
3 years ago
Crystal Glass recently paid $3.60 as an annual dividend. Future dividends are projected at $3.80, $4.10, and $4.25 over the next
lora16 [44]

Answer:

$41.96

Explanation:

The first thing you need to do is to calculate terminal value at the end of time t = 3. Then the intrinsic value of the stock is sum of discounted cashflow from t =1 to t = 3 (cashflows at t = 3 includes dividend as well as terminal value).

Terminal value at t = 3 = Dividend in year 4/(Required rate of return - Dividend growth)

                                     = 4.25 x (1 + 3%)/(12.5% - 3%)

                                     = 46.08

Then value of the stock is calculated as below:

Stock intrinsic value = 3.8/(1 + 12.5%) + 4.1/(1 + 12.5%)^2 + (4.25 + 46.08)/(1 + 12.5%)^3

                                  = 41.96

6 0
3 years ago
Which of the following are not traits of entrepreneurs?
Phantasy [73]

Answer: dishonesty and dependence.

Explanation:

8 0
3 years ago
To determine the production level, the monopolist sets marginal cost equal to price.
Vlad1618 [11]
Your answer is false.
6 0
3 years ago
arren has a loan with an effective interest rate of 5 percent per annum. He makes payments at the end of each year for 10 years.
Bond [772]

Answer:

interest portion of fifth payment = $66.89 ≈ $67

Explanation:

effective interest rate = 5% yearly

first payment = $200

second payment = $210

third payment = $220

fourth payment = $230

fifth payment = $240

sixth payment = $250

seventh payment = $260

eighth payment = $270

ninth payment = $280

tenth = $290

using a financial calculator, I determined the present value (principal) of the loan = $1,860.87

then I prepared an amortization schedule:

interest portion of fifth payment = $66.89 ≈ $67

Download pdf
6 0
3 years ago
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