Answer:
See below
Explanation:
Given the information above, first we need to compute ending balance of account receivables.
Ending balance of account receivables = Beginning balance + Credit sales - Customer's account collected - Write off amount
= $125,000 + $1,400,000 - $1,350,000 - $0
= $175,000
The year end balance in the allowance for uncollectible account would be
= $175,000 × 10%
= $17,500
Now, the bad debt expense
= Year end balance of allowance for uncollectible account - Beginning balance of allowance for doubtful accounts + Written off
= $17,500 - $15,000 + $0
= $2,500
Answer:
good luck to your modules
You should inquire.
If the bill is incorrect, this could be a cause of fraud or a simple calculating error. The same could apply for you wanting more information - the supplier should be able to provide you information about it.
Answer:
Effective monthly rate 2.076%
Yearly nominal rate: 24,912%
Explanation:
In excel we have to specify the number of period. The amount we borrow and the payment we are doing This should be negative as represent a cash outflow.
This is solving for the rate of the annuity for 95 of 12 months that discounted at X rate gives 1,000 as the present value:
we write on A1
=RATE(12;1000;-95)
and we will receive 2.076% as answer
<em><u>Now to convert into nominal:</u></em>
2.076 x 12 = 24,912%
Find a convenient and reasonable unit of measurement to use, then divide the cost of the package by the number of units chosen in that package.
