Answer:
The correct answer is letter "B": A proprietorship.
Explanation:
Sole proprietorships are businesses with a single owner who is responsible for all the operations. The advantage of this type of business is that they are not strictly regulated by the government and are easy to form but the owner has full liability which implies if the business falls into debt, the personal assets of the owner can be considered to repay that debt.
Answer:
Total finance charge=$23.75
Explanation:
<em>The amount charged for the use of the fund by a bank is called interest rate. Here it is quoted as 21% per annum but we will need to determine the approximate monthly rate by dividing by 12</em>.
The total finance charge will be equal = Interest rate + advance fee
Monthly interest rate = 21/12 =1.75%
Interest payment = 1.75%× $500=$8.75
Advance fee = 3%× $500= $15
Total finance charge = $8.75 + $15= $23.75
Total finance charge=$23.75
Answer:
Bad debt expense...................Dr $36,000
Allowance for doubtful debts $36,000
(To record uncollectibles)
Explanation:
Certain amount of credit sales that the manager estimates to be uncollectible is called bad debts. They are written off at the end of the year. As per allowance method, estimated uncollectibles or bad debts are charged to allowance for doubtful debts.
Here, $36,000 has been estimated by the manager as estimated uncollectible
Journal entry to record uncollectibles:
Particulars Debit Credit
Bad debt expense $36,000
Allowance for doubtful debts $36,000
(To record uncollectibles)
The incipient employee is probably nervous your job is to make them feel at ease and welcome them
be yare, have an orchestration
be cordial don’t leave them by themselves
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