Answer:
the answer is D terms and conditions set forth in a lending agreement to reduce the probability of non-payment
Explanation:
covenants help lenders detect deteriorating loan quality.
Answer:
$3,176 , it's two months of interests $1,588 + $1,588
Explanation:
If the company paid each month 1/12 of capital plus interest it means that it's necessary to deduct the total amount of interests paid each month.
The company paid $25,588 and the monthly capital it's $24,000, therefore the company paid on interest an amount of $1,588 each month.
The issue of a one year installment note means that the company repay the principal to the lender in a series of periodic payments, in this case each month pay principal plus interests
In the income statement we have to applied the accrual criteria which means that the company only recognize the interest paid in the past months, November and December.
Answer:
(a) What was the total of accounts written off during the first 11 months?
bad debts written for the first 11 months = allowance for bad debt accounts January 1 balance + bad debt expense - allowance for bad debt accounts November 30 balance = $13,085 + $21,937 - $9,919 = $25,103
(b) As the result of a comprehensive analysis, it is determined that the December 31, 2010, balance of the Allowance for Bad Debts account should be $9,450. Show the adjustment required in the journal entry format.Allowance for bad debt Debit $Bad debt expenses Credit $
to determine the amount of bad debt expense that must be adjusted, we must subtract the estimated balance in December 31 from the balance in November 30 = $9,919 - $9,450 = $469. Since the November 30 amount is larger, it means that we over estimated our bad debt expense and it must be reduced:
Dr Allowance for doubtful accounts 469
Cr Accounts receivable 469
An equality and diversity policy is basically a written agreement for your organization on how you will avoid discrimination and provide a safe and inclusive environment for your members and service users.
<h3>What is meant by currency of a plan?</h3>
The currency in which the Policy is denominated, as described in the Policy Schedule, is referred to as the Policy Currency.
The assessment of the currency of diversity plan or policy therefore, is the process of ensuring that a diversity policy or plan is up to date.
Learn more about diversity plans:
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Answer:
25th house's Marginal cost is $250,000.
Explanation:
Given:
Total cost of 24 houses = $4,800,000
Total cost of 25 houses = $5,050,000
Marginal cost = ?
Computation of marginal cost:
Marginal cost = Change in total cost
Marginal cost = Total cost of 25 houses - Total cost of 24 houses
Marginal cost = $5,050,000 - $4,800,000
Marginal cost = $250,000
So, we say that 25th house's marginal cost will be $250,000 .
