Answer:
Debit Allowance for doubtful debts $1,200
Credit Accounts receivable $1,200
Being entries to write off uncollectible debt on December 1
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
Where a debit that had previously been determined to have gone bad gets settled, debit cash and credit bad debt expense.
Answer:
Explanation:
We would plug the following values in a financial calculator in order to compute the future value,
N = 25
I/Y = = r = 8
PMT = 5440
PV = 0
Fv = ??
FV = PMT x (1 + r )(
)
https://www.calculator.net/finance-calculator.html?ctype=endamount&ctargetamountv=1000000&cyearsv=25&cstartingprinciplev=0&cinterestratev=8&ccontributeamountv=5440&ciadditionat1=beginning&printit=0&x=0&y=0
^ Using the financial calculator, FV = $429,512
Answer:
b. $358,500
Explanation:
Given;
Retained Earnings at December 31, 2018 = $300,000
In 2019,
Revenue = $600,000
Expenses = $525,000
Declared and paid dividends = $16,500
Retained earnings on the balance sheet as of December 31, 2019
= $300,000 + $600,000 - $525,000 - $16,500
= $358,500
The right option is b. $358,500
Answer:
protection profiles.
Explanation:
Common Criteria can be defined as an international set of guidelines and specifications which are designed and developed for the evaluation of an information security product, in order to ensure that they meet an agreed-upon and specific security standard for general use by the public. It comprises of two (2) key components: Evaluation assurance level and protection profiles.
In the Common Criteria, the common set of functional and assurance requirements for a category of vendor products deployed in a particular type of environment are known as protection profiles.
<u>Answer: </u>agent or attorney is a power of attorney.
<u>Explanation:</u>
Power of attorney is an agreement between two people one is the principle and the other person is the agent or the attorney where they sign the document. According to the law the agent who is power of attorney has the authority to do the banking transactions on behalf of the principle.
If the power of attorney is revoked then the agent has no obligations to perform any tasks. power of attorney document for incapacitated or mentally affected principle should have stated in the document itself such power of attorney is called as durable power of attorney.