Professional appraisers and real estate agents
Answer:
D. $12,000
Explanation:
Allowance for Doubtful accounts = Credit sales * Rate
Allowance for Doubtful accounts = $200,000 * 6%
Allowance for Doubtful accounts = $12,000
Allowance for doubtful account
Particulars Particulars
Balance brought forward $9,000 Bad debts $12,000
Balance carried forward $3,000
Total $12,000 Total $12,000
Therefore, the amount to be debited to Bad debts and credited to Allowance for Doubtful accounts is $12,000.
Answer:
Monthly pay= 5344.67
Explanation:
Giving the following information:
To live comfortably, you decide you will need to save $ 1million by the time you are 65.
Today is your 29th birthday, and you decide to put the same amount into a savings account. If the interest rate is 8%.
How much must you set aside each year?
n= 36
i= 0.08
FV= 1,000,000
We need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
We need to isolate A (monthly pay):
<u>A= (FV*i)/[(1+i)^n-1]</u>
A= (1000000*0.08)/(1.08^36-1)
A= 80000/14.96817184
A= 5344.67
Answer and Explanation:
The classification is as follows
For case 1
It is a growing start-up company (S) with the following reasons
a. The cash flow from operating activities is very less as compared to the financing and investing activities
b. It is a start company so in this case the financing and investing activities are more
c. Moreover, the beginning cash balance is also less
For case 2
It is an established company facing financial difficulties (F) with the following reasons
a. The operating activity is in a negative amount
b. It is an established company so it facing a lot of difficulties
c. Net cash flow is also in negative
For case 3
It is a healthy established company (E) with the following reasons
a. The operating activity is in a positive amount
b. Since it is a healthy established company so it shows the positive net cash flow and strong cash position
Answer:
If you are single, head of household or married filing separately, your contribution limit of $5,500 begins to phase out when your modified AGI reaches $61,000 and is zero beginning at $71,000. If you are married, filing jointly, or a qualified widow or widower, your contribution limit of $5,500 begins to phase out when your modified AGI reaches $98000 and is zero beginning at $118,000. So since they dont have an income limitation and are not covered by another pension plan, they both should be able to contribute $5,500 for a combined result of $11,000 to a Roth IRA
