Your credibility is your capability of being believed because you are reliable and worthy of confidence.

Answer each of the following questions from the standpoint of each of the three theories of justice. Each question should have t

Vlada [557]

Answer:

O WHAT IS THAT WOW WOW WOW PO

5 0

3 years ago

Carpenters, Inc., a manufacturing company, acquired equipment on January 1, 2017 for $ 520 comma 000. Estimated useful life o

san4es73 [151]

Answer:

Annual depreciation= $47,618

Explanation:

Giving the following information:

Purchasing price= $520,000

Useful life= 7 years

Residual value= $20,000

New useful life= 9 years

First, we need to determine the annual depreciation and accumulated depreciation before January 2020.

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (520,000 - 20,000)/7= 71,429

Accumulate depreciation= 71,429*3= $214,287

New annual depreciation:

Book value= 520,000 - 214,287= 305,713

Annual depreciation= (305,713 - 20,000) / 6

Annual depreciation= $47,618

5 0

4 years ago

The two methods of accounting for uncollectible receivables are the direct method and the __________ method.

Rudiy27

The two methods of accounting for uncollectible receivables are the direct method and the <u>allowance</u> method.

The Financial Accounting Reserve Method refers to the bad debt process in which the estimated bad debt expense is recorded in the same accounting period as the sale. The provisioning method is used to adjust the value of accounts receivable shown on the balance sheet.

The direct depreciation method requires two separate postings to write off the irrecoverable account. Recognizing credit losses using the provisioning method reduces journal entries for recognizing certain charge-offs. Doubtful invoice deductions.

Under the allowance method, companies estimate the number of bad debts as a percentage of credit sales. Then apply that percentage to your credit sales when you get your revenue. Value adjustments correspond to income.

Disclaimer: Learn more about the allowance method here

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6 0

2 years ago

Veronica owns a home, and when her children went to college, she was looking for a way to help finance their education. She went

natali 33 [55]

Answer:

True

Explanation:

Home equity loan is a kind of loan in which a person borrows against the equity of his or her home, i.e the home is used as a collateral. The loan that can be gotten by the individual is dependent on the value of the home or residence and this value can only be determined by an appraiser from the institution providing the loan. In instances when the borrower is unable to repay the loan, the lending institution can foreclose on the home which has been used a collateral.

Home equity loan can be used to finance expenses like education bills, medical bills and so on.

Therefore, Veronica took a home equity loan to help finance her children's education.

4 0

3 years ago

Read 2 more answers

"If a mutual fund distributes 99% of its Net Investment Income to its shareholders, how much of the Net Investment Income will b

inessss [21]

Answer: 1%

Explanation:

The amount that the Mutual fund will be taxed on is the 1% of Net Investment income that will be remaining. This is because the distributed income will be taxed from the shareholders and so does not need to be taxed from the mutual fund in order to avoid double taxation.

The 99% that was distributed will then be taxed based on what type of income it is i.e dividend income, capital gains etc.

8 0

4 years ago