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dusya [7]
3 years ago
5

Prepaid Advertising has a debit balance in the Trial Balance section of the worksheet of $1500 and a credit entry of $550 in the

adjustments section of the worksheet the balance of Prepaid Advertising in the Adjusted Trial Balance section of the worksheet is a:_______
a) $1050 bin
b) $1050 credh
c) $4500 de
d) $550 de
Business
1 answer:
Dmitriy789 [7]3 years ago
5 0
It will be answer choice b
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Libre, Inc. has experienced bad debt losses of 5% of credit sales in prior periods. At the end of the year, the balance of Accou
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Answer:

The estimated bad debt expense for the year amounts to $9,400

Explanation:

The  estimated bad debt expense  for the year is computed as:

As the percentage of credit sales method is used for estimating the bad debt expense. Therefore, it is computed as:

Bad debt expense = Net Credit Sales × Estimate Percent

where

Net credit sales amounts to $188,000

Estimate percent is 5%

So, putting the values above:

Bad debt expense = $188,000 × 5%

Bad debt expense = $9,400

Therefore, the bad debt expense amounts to $9,400

3 0
4 years ago
Sanjeev leases a house from Clara, and the lease has an option contract attached that permits Sanjeev to buy the house if he cho
Aleksandr-060686 [28]

The amount of the option fee need to be on amount agreed to by the parties in order to be legally binding.

<h3>What is a lease agreement?</h3>

A lease agreement is a legal arrangement whereby a person give another person the right to possess the land for use in return for a periodic compensation.

However, the lease agreement can lead to permanent purchase, based on the agreement of the lease.

In conclusion, the amount of the option fee need to be on amount agreed to by the parties in order to be legally binding.

Read more about lease agreement

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8 0
3 years ago
Which of the following is not true of taxable asset purchases?
shutvik [7]

Answer:

e. None of the above

Explanation:

The taxable asset purchases allows the individual to increase or step up the tax basis of acquired assets so as to reflect the price of the purchases made.

If one buy an assets, then he or she wants to allocate total purchase price in a way which gives a favorable postacquisition tax results.

In case of taxable asset purchases, the tax credits or the net operating losses cannot be transferred from the target firm to the acquiring firm.

6 0
3 years ago
When the required return is equal to the coupon rate, the bond value is▼equal togreater thanless thanthe par value. In contrast
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1) Answer: When the required return is equal to the coupon rate, the bond value is equal to the par value,

2) if the required return is less than the coupon rate the bond will sell at a premium.

Explanation:

1) The reason for this that the required return is the market or investors required rate of return for a particular bond, when the required rate and coupon rate are equal it means that the investor is getting the return he wants in coupon payments, therefore the investor will be willing to buy the bond on par value, as he is getting his required return in the form of coupon payments.

2) When the required return is less than the coupon rate the investor is getting more in coupons than he required from the bond so the bonds price will be higher than par so that the return from the coupons become equal to the required rate of return. Thats why when a bonds required return is less than the coupon it sells on a premium.

3 0
3 years ago
The key factor distinguishing retailers from other members of the supply chain is that.
Airida [17]

The key factor distinguishing retailers from other members of the supply chain is that they sell to customers for their personal use.

<h3>What do you mean by customers?</h3>
  • A client is someone who purchases goods, services, products, or ideas from a seller, vendor, or supplier in exchange for money or another useful consideration.
  • This definition applies to sales, business, and economics.
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<h3>What types of customers are there?</h3>
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3 0
2 years ago
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