Allowance for Doubtful accounts of $8000 and Bad debt expense of $7,250.
<h3>Given :</h3>
ABC, Inc.'s unadjusted trial balance included
Accounts receivable $80,000 debit;
Allowance for doubtful accounts $750 credit;
and credit sales $400,000 credit.
ABC uses the aging-of-receivables method and estimates that $8,000 of its receivables will be uncollectible. After the adjusting entry is made, ABC's financial statements will report $8000. allowance for doubtful accounts on the balance sheet & bad debt expense of $7,250 on the income statement.
Using the aging-of-receivables method to estimate bad debt implies that we must consider the existing balance in the allowance for uncollectible account, unlike the percentage of sales method.
Therefore the entry will be a Bad debt expense of 8000 less 750 which is 7250 while the entire 8000 will be deducted from receivables in the Balance sheet.
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Answer:
10 years.
Explanation:
Federal student loans can be defined as a form of financial aid given to college or university students with varying financial means, so as to enable them gain access to higher education.
In the United States of America, the U.S Department of Education is saddled with the responsibility of administering the federal student loans.
Basically, there are four (4) types of federal student loans and these include;
1. Direct unsubsidized loans.
2. Direct subsidized loans.
3. Direct consolidation loans.
4. Direct PLUS loans.
If you don't proactively choose a different repayment plan option, your Federal student loans will default to the Standard Plan, which has a term of 10 years. Thus, the standard repayment plan for a federal student loan is used to divide the amount owed by the student, so he or she can pay the amount in installment for a period of 10 years.
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Answer:
0.73
Explanation:
Given that
WACC = 11%
Tax rate = 34%
Cost of equity = 14.9 %
Cost of debt = 8.6%
Recall that
WACC = (cost of equity × % of equity) + (cost of debt × % of debt) + ( 1 - tax rate)
We are to find
Cost of debt and cost of equity
Let
Cost of debt be x
Cost of equity be (1 - x)
Thus,
0.11 = (1 - x)(0.149) + (x)(0.086)(1 - 0.34)
x = 0.4228
Therefore,
Debt-equity ratio
= Cost of debt/cost of equity
= 0.4228/(1 - 0.4228)
= 0.73
Answer:
This question is incomplete, the options are missing. The options are the following:
a) organizational effectiveness
b) closed systems
c) good fit
d) open systems
e) innovative processes
And the correct answer is the option D: open systems.
Explanation:
To begin with, the concept known as<em> "Open Systems"</em> refers to the type of systems that mainly receive their information from external sources but also from internal sources. So those kind of systems are the ones that encourage all the parts to work as a whole in order to obtain better results and that is why that it is in those sytems where the organizations study the feedback that comes from the environment and uses with the purpose of getting better at their operations.
