Answer:
The amount of bad debt exp is 7000
Explanation:
Allowance for bad debt exp has a credit balance of 7500 before adjusting entry
Now the management wants to estimate the uncollectible accounts at 14500
So we have to increase the balance of the allowance account from 7500 to 14500
Like 14500-7500=7000
So we need to record the entry by 7000 to increase the amount of the allowance to 14500
The entry
Bad debt exp Dr. 7000
Allowance for doubtful accounts Cr 7000
Now the bad debt exp will be reported in the income statement by 7000
Answer:
Option C is the correct option.
Explanation:
As the rights and obligation of the antique rocking chair are been passed to third party, so the damage caused by the checque been bounced is the monetry consideration agreed between the party to the contract, McGraw and Tellis. So Tellis may recover money damages from McGraw. However there is a special condition that can allow Tellis recover his asset from Rio if the third party knew before purchase of this asset, that the checque paid to Tellis by McGraw was dishonoured but still he contracted with McGraw to acquire the antique rocking chair.
Overall the option C is the correct option with which the case scenario relates.
Answer:
$2.5 per share
Explanation:
Earning Per share is the amount of earning for the period that allocated to each share. Normally it is calculated using common shares. The earning used in this calculation is purely the earning that is associated with the shareholders of the company. We can have this earning after deducting all the expenses and preferred dividend as well.
Formula:
Earnings per share = Net Income / Numbers of common Shares
Earnings per share = $450,000 / 180,000
Earnings per share = $2.5 per share
One single payment of money, opposed to a an annuity. (a series of payments made over time)
<span>A Soviet interpretation of this poster would claim that
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Americans are practicing economic imperialism
so correct option i conclude is A
hope it helps