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Alex17521 [72]
2 years ago
6

I need ideas for my new rap song

Business
1 answer:
Vlada [557]2 years ago
5 0
Sing about what you did to get to where you are now, it helps people understand why u starting rapping, many do it to cope with pain. But hey wish you luck!!
You might be interested in
two years ago, you purchased 220 shares of ibm stock for $124 a share. today, you sold your ibm stock for $142 a share. for this
Burka [1]

Thanks For Sharing.

two years ago, you purchased 220 shares of ibm stock for $124 a share. today, you sold your ibm stock for $142 a share. for this problem, ignore commissions that would be charged to buy and sell your ibm shares and dividends you might have received as a shareholder.

3 0
1 year ago
The December 31, 2020 balance sheet of Barone Company had Accounts Receivable of $400,000 and a credit balance in Allowance for
sergey [27]

Barone Company

General Journal for 2020 transactions:

Debit Accounts Receivable $1,500,000

Credit Sales Revenue $1,500,000

To record sales on account:

Debit Sales Returns $50,000

Credit Accounts Receivable $50,000

To record sales returns and allowances:

Debit Cash Account $1,250,000

Credit Accounts Receivable $1,250,000

To record cash collections from customers:

Debit Allowance for Doubtful Accounts $36,000

Credit Accounts Receivable $36,000

To record uncollectible written-off.

Debit Accounts Receivable $6,000

Credit Allowance for Doubtful Accounts $6,000

To reinstate previously written off accounts.

Debit Cash Account $6,000

Credit Accounts Receivable $6,000

To record collection of previous write-off.

Adjusting Entry at December 31, 2020:

B. Using 3% of net sales:

Debit Bad Debt Expense $41,500

Credit Allowance for Doubtful Accounts $41,500

To record bad debt expense.

C. Using 8% of Receivables:

Debit Bad Debt Expense $43,120

Credit Allowance for Doubtful Accounts $43,1`20

To record bad debt expense.

D. 3% of net sales produces a higher net income and by $1,620

Simplification:

1. Accounts Receivable

Beginning balance (debit) = $400,000

Sales                                     1,500,000

Sales Returns & allowances   (50,000)

Cash Collections                (1,250,000)

Uncollected write-off            (36,000)

Reinstatement of write-off       6,000

Cash Collection                       (6,000)

Ending balance                  $564,000

2. Allowance for Doubtful Accounts

Beginning balance (Credit)   $32,000

Uncollectible write-off            (36,000)

Reinstatement of write-off        6,000

Balance pre-year adjustment $2,000

Using 3% of net sales

Bad debt expense                 $41,500

Ending balance (credit)        $43,500

Balance pre-year adjustment $2,000

Using 8% of receivable balance

Bad debt expense                 $43,120

Ending balance (credit)        $45,120

3. Allowance for Doubtful Accounts (Ending balance)

3% of net sales = $1,450,000 x 3% = $43,500

8% of receivables = $564,000 x8% = $45,120

What Is a Bad Debt Expense?

A bad debt expense is recognized when a receivable is no longer collectible because a customer is unable to fulfill their obligation to pay an outstanding debt due to bankruptcy or other financial problems.

Learn more about bad debt expenses:

brainly.com/question/18568784

#SPJ4

6 0
1 year ago
Select cost information for Seacrest Enterprises is as follows: 1,000 units of output 5,000 units of output Total Cost/Unit Tota
gayaneshka [121]

Answer:

c. Utilities expense is a mixed cost and rent expense is a fixed cost.

Explanation:

Seacrest Enterprises

                                        1000 units                       5000 Units

                  Total Cost     Total Cost /Unit     Total Cost       Total Cost/Unit

Direct materials  $5,000               $5.00        $25,000          $5.00

Utilities expense  $1,000                 $1.0 0        $3,750            $0.75

Rent expense        $4,000                    $4.00         $4,000            $0.80

Direct Materials show variable Costs

Utilities expense show mixed costs

Rent Expense show fixed costs

The correct answer is

c. Utilities expense is a mixed cost and rent expense is a fixed cost.

4 0
3 years ago
When a tax of $1.00 per gallon is imposed on sellers of gasoline, the supply curve for gasoline shifts upward, but by less than
ycow [4]
When a tax of $1.00 per gallon is imposed on sellers of gasoline, the supply curve for gasoline shifts upward, but by less than $1.00. A tax on sellers usually causes buyers to pay more for the good and sellers to receive less for the good than they did before the tax was levied.
8 0
3 years ago
List the characteristics typical of a c corporation
Svet_ta [14]

Answer:

The five main characteristics of a c corporation are:

  1. limited liability: the owners' liability is determined by the amount of money they invested in purchasing the corporation's stock.
  2. corporations are owned by stockholders: every single stockholder owns a piece of the corporation, the size of that piece is determined by the amount of stocks.
  3. double taxation: owners of the corporation suffer from double taxation because first the corporation must pay corporate taxes and then the owners must pay income taxes when they receive dividends.
  4. corporations are separate entities: corporations exist by themselves, they are born when they are created and die when they are dissolved.
  5. corporations are professionally managed: the owners elect a board of directors and the board is responsible for hiring professional management.

Explanation:

3 0
3 years ago
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