Answer:
amount debited to bad debt expenses = $4794
so correct option is C.$4,794
Explanation:
given data
Outstanding account receivable = 95250
credit balance of allowance for doubtful account = 921
rate = 6 %
solution
we get here Allowance for doubtful accounts that is
Allowance for doubtful accounts = 6 % of 95250
Allowance for doubtful accounts = 5715
and
so here amount should be debited to bad debt expenses is
amount debited to bad debt expenses = 5715 - 921
amount debited to bad debt expenses = $4794
so correct option is C.$4,794
Answer:
True
Explanation:
Effective from 2015, the Section 106.09 is amended to allow an individual to provide permission to an individual below the age of 18 to act as a cashier in the club or restaurant where alcohol is being sold, only condition applied is:
That the sale of alcohol in such establishment shall not generate revenue more than 50% for total sale revenue including other products.
Here in the given instance,
Gross receipts from sale of alcohol is less than 50% of total sales, and the cashier is 16 years old, thus, it is true.
Item 1 - “Business” requires a description of the company’s business, including its main products and services, what subsidiaries it owns, and what markets it operates in. This section may also include information about recent events, competition the company faces, regulations that apply to it, labor issues, special operating costs, or seasonal factors. This is a good place to start to understand how the company operates.
Item 1A - “Risk Factors” includes information about the most significant risks that apply to the company or to its securities. Companies generally list the risk factors in order of their importance. In practice, this section focuses on the risks themselves, not how the company addresses those risks. Some risks may be true for the entire economy, some may apply only to the company’s industry sector or geographic region, and some may be unique to the company.
Item 1B - “Unresolved Staff Comments” requires the company to explain certain comments it has received from the SEC staff on previously filed reports that have not been resolved after an extended period of time. Check here to see whether the SEC has raised any questions about the company’s statements that have not been resolved.
Item 2 - “Properties” includes information about the company’s significant properties, such as principal plants, mines and other materially important physical properties.
Item 3 - “Legal Proceedings” requires the company to include information about significant pending lawsuits or other legal proceedings, other than ordinary litigation.
Item 4 - This item has no required information, but is reserved by the SEC for future rulemaking.
Open Door policy. Open Door policy, statement of principles initiated by the United States in 1899 and 1900 for the protection of equal<span> privileges among countries trading with China and in support of Chinese </span>territorial<span> and administrative integrity.</span>
Answer:
C) $5 million increase.
Explanation:
The computation of the change in fund balances to governmental activities is shown below:
= Capital outlay expenditures - actual expenditure
where,
capital outlay expenditure is $12 million
And, the actual expenditure would be assumed as a depreciation expense which is calculated below
= (Total capital cost - land value) ÷ (useful life)
= ($80 million - $10 million) ÷ (10 years)
= ($70 million) ÷ (10 years)
= $7 million
As land is not depreciated so we excluded it from the capital assets
Now put these values to the above formula
So, the value would equal to
= $12 million - $7 million
= $5 million increase