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melomori [17]
3 years ago
14

State whether each of the following statements is true or false.

Business
1 answer:
sineoko [7]3 years ago
6 0

Answer:

Answer for Question 1 is False

Answer for Question 2 is False

Answer for Question 3 is True

Answer for Question 4 is True

Answer for Question 5 is True

Explanation:

1. Debenture bonds include unsecured bonds but do not include mortgage bonds and sinking bonds.

2. Callable bonds are bonds issued by the issuer before the maturity period.

3. True about market rate.

4. True about Annual interest.

5. True about the Present value of a bond.

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On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $76,000
trapecia [35]

Answer:

The effect the entry to recognize the uncollectible accounts expense for Year 2 will have on the elements of the financial statements are that it will reduce Accounts Receivable to $15,560 and the Allowance for Doubtful Accounts to $1,900 at the end of Year 2.

Explanation:

Credit sales estimated to be uncollectable = Credit sales * Estimated percentage uncollectable = $215,000 * 1% = $2,150

Ending account receivable = Beginning accounts receivable + Credit sales - Cash collected - Receivales written off as uncollectable - Credit sales estimated to be uncollectable = $76,000 + $215,000 - $271,100 - $2,100 - $2,150 = $15,560

Ending Allowance for Doubtful Accounts = Beginning Allowance for Doubtful Accounts - Allowance for Doubtful Accounts - Receivales written off as uncollectable = $4,000 - $2,100 = $1,900

Therefore, the effect the entry to recognize the uncollectible accounts expense for Year 2 will have on the elements of the financial statements are that it will reduce Accounts Receivable to $15,560 and the Allowance for Doubtful Accounts to $1,900 at the end of Year 2.

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2 years ago
Soon after Jeff was hired as a company accountant, his company developed corporate programs to help improve self-confidence and
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Answer:

True (early 1980s)

Explanation:

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3 years ago
Power Pro, a leading manufacturer of lawn and garden equipment, releases a new line of cordless, lightweight, electric weed trim
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Suppose you borrow at the risk-free rate an amount equal to your initial wealth and invest in a portfolio with an expected retur
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