Answer and Explanation:
The Journal entry is shown below:-
Bad debts expense Dr, $2,000
To Accounts receivable-Hopkins $2,000
(Being write off is recorded)
Here we debited the bad debt expenses as it increased the expenses and we credited the accounts receivable as it reduced the assets so that the proper posting could be done
Sometimes when people are under pressure they forget things that they have memorized. Sometimes its answers for a test and sometimes they forget how to walk, your body will just shut down under pressure.
Just try to relax and think of something else of a few, then move on to the next question, it will come back to you.
Answer:
35 times
Explanation:
The price-earnings ratio is the financial ratio that compares the market price of a share with its earnings in order to determine whether the share gives earnings that makes it a good buy.
Price-earnings ratio=market price per share/earnings per share
market price per share for 2017 is $42
earnings per share=net income-dividends/average common stock outstanding
net income is $108,000
dividends is nil
average number of common stock is 90,000
earnings per share=$108,000-$0/90,000=$1.2
price earnings ratio=$42/$1.2=35 times
Answer:
True
Explanation:
When a company successfully offers a product or few products to customers, it tends to expand the range of products it has to offer.
For a <u>company to increase its range of products successfully, it has to realize that it must make corresponding changes to its processes to accommodate the addition of new products.</u>
However <em>oftentimes, companies do not make the necessary changes to their process strategy when expanding their product offerings.</em>
Answer:
The carrying value of the bonds immediately after the first interest payment is $434,300.
Explanation:
Face value of the bond = $440,000
Proceeds from bond issue = $434,000
Discount on bond payable = Face value of the bond - Proceeds from bond issue = $440,000 - $434,000 = $6,000
Total number of seminual = Number of years of bond maturity * Number of semiannual in a year = 10 * 2 = 20
Discount amortizaton per semiannual = Discount on bond payable / Total number of seminual = $6,000 / 20 = $300
Carrying value after first interest payment = Proceeds from bond issue + Discount amortizaton per semiannual = $434,000 + $300 = $434,300
Therefore, the carrying value of the bonds immediately after the first interest payment is $434,300.