Answer:
$1,770,000
Explanation:
Given the above information, the computation of accounts receivable before the allowance is shown below;
= Beginning account receivable balance + Bad debt expense - Uncollectible accounts receivables
= $1,620,000 + $270,000 - $120,000
= $1,770,000
The bad debt is an expense hence will be added whereas the account receivable which is yet to be collected should be deducted the computation part.
An income statement<span> is a financial </span>statement<span> that reports a company's financial performance over a specific accounting period. Financial performance is assessed by giving a summary of how the business incurs its revenues and expenses through both operating and non-operating activities.
Its a statement that your bank sends out monthly to tell you how much you have in your account(s), what you spent the past month, deposited and even any interest that built up</span>
Answer:
1. Cash will increase by $18,700 for the services to be rendered over the 12 months.
2. Cash will reduce by $64,000 for the legal service acquired.
3. No effect on cash as the transaction is on accounts.
4. Cash will decrease by $1,250 for the supplies purchased.
5. Cash will decrease by $6,000 for the dividends paid.
6. Cash will decrease by $20,000 due to operating expenses
7. no effect on cash
8. no effect on cash.
Explanation:
The business transactions recorded by Hart, Attorney at Law, These transactions have impact on the cash. The inflow and outflow of cash is recorded in the cash flow statement. Transaction no. 3, 7 and 8 will have no effects on cash balance of the company.
Answer:
The gain of $8,000 is recognized and the bonds have a basis of $35,000
Explanation:
Please see attachment
Answer:
Monetary, Reserve Bank
Explanation:
Monetary policies come into play when they have to influence the real GDP and the inflation rate present in the economy, and such policies are authorized and taken by the Reserve bank.
