Answer:
$75,131
Explanation:
The computation of the amount of note payable credited is shown below:
Notes payable is
= Agreed amount to pay × present value factor at 10% for 3 years
= $100,000 × 0.75131
= $75,131
By multiplying the agreed amount to pay with the present value factor at 10% for 3 years we can get the amount credited to the note payable
Answer:
B. zoning laws.
Explanation:
Zoning laws are regulations put in place by the local authorities that dictate how real estate properties can or cannot be used in different geographical zones. Zoning laws can prohibit or limit properties in certain areas to be used for commercial or industrial purposes. For example, zoning laws may not allow the development of commercial buildings in residential neighborhoods.
Zoning shows whether specific geographic areas are acceptable for commercial purposes.
Answer:
$1,160
Explanation:
<em>Hie, I have attached the full question as an image below.</em>
The firm usually makes provision for certain amounts so as not to overstate their profits. This expected as it is prudent than reporting profits that might never occur. Provisions of Uncollectible accounts are examples of such amounts.
An increase in Uncollectible amount compared to the opening balance is treated as an Expense in the Income Statement whilst a decrease is treated as an Income.
For this question, we are told that Uncollectible accounts are determined by the percent-of-sales method to be 4% of credit sales. Thus calculation of the 2012 uncollectible-account expense is as follows :
Credit Sales - 2012 = $44,000
Beginning Balance in allowances = $600
Therefore,
Uncollectable Amount (2012) = Credit Sales x percent-of-sales
= $44,000 x 4%
= $1,760
The Uncollectable amount has increased by $1,160 ($1,760 - $600)
Conclusion :
The collectible-account expense for 2012 is $1,160
The three bottom line in the social responsibility are :
- Economic
- Social
- Environment
This three bottom lines could directly affect each other. For example, as the company experienced an economic growth, it could increase the quality of the social and environmental element around the company through various Corporate social responsibilities.
Answer:
$8,870
Explanation:
Calculation to determine the balance in the allowance for doubtful accounts after bad debt expense is recorded
Using this formula
Balance in the allowance for doubtful accounts=
(Credit sales* Percentage of Credit sales)+Allowance for doubtful accounts credit balance
Let plug in the formula
Balance in the allowance for doubtful accounts= ($458,000*1.5%)+$2,000
Balance in the allowance for doubtful accounts=$6,870+$2,000
Balance in the allowance for doubtful accounts=$8,870
Therefore the balance in the allowance for doubtful accounts after bad debt expense is recorded will be $8,870
