Answer:
$201.32
Explanation:
100
+2x20=40
+6×10= 60
+4×.25= 1
+ 5x.05= .25
+ .07
100+40+60+1+.25+.07= 201.32
Answer:
The Journal entries are as follows:
(i) On March 11,
Bad debt expense A/c Dr. $45,000
To accounts receivable $45,000
(To record uncollectible accounts receivable)
(ii) On March 29,
Accounts receivable A/c Dr. $45,000
To Bad debt expense A/c $45,000
(To record reversal of written off accounts receivable)
(iii) On March 29,
Cash A/c Dr. $45,000
To accounts receivable $45,000
(To record receipt of cash from customer)
Answer:
D. the necessity in a barter system of each trading partner wanting what the other has to trade.
Explanation:
Double confidence of wants was one of the shortcomings of the barter system.
For example, if someone wants corn and has yam. He has to find someone that wants yam and has corn to trade in order for a trade to occur.
The introduction of money solved this problem.
I hope my answer helps you
Answer:
$12,600
Explanation:
Annual Dividend to preferred stock = $1,140,000 × 7%
= $79,800
A schedule of preferred stock dividend in Arrears is as follows :
Dividend Paid Arrears
2016 $79,800 $54,000 $25,800
2017 $79,800 $54,000 $51,600
2018 $79,800 $131,400 0
Dividends of $131,400 has to be paid in 2018 to cover all the arrears.
Principle : Preference dividends (and their arrears if cumulative) are paid first before dividends distribution to common stock holders.
Common Stock Holders receive the remaining amount of dividends of $12,600 ($144,000 - $131,400)