Answer:
$22,569.48 is amount i must have to deposit today
Explanation:
FV = Future Value
, PV = Present Value
, r = rate of interest
, n= no of period
PV = FV / (1 + r )n
PV = 32000 / (1 + 3%)^4*(1+3.6%)^3
PV= $32,000/ (1 + 0.03)^4*(1+0.036%)^3
PV= $32,000/ (1.03)^4*(1.036%)^3
PV= $32,000/ (1.03)^4*(1.036)^3
PV= $32,000/ 1.12550881 * 1.111934656
PV= $32,000/ 1.251492251
PV = $22,569.47514
PV = $22,569.48
$22,569.48 is amount i must have to deposit today
Answer:
<em>Collections for September is $ 57,100</em>
Explanation:
Computation of cash receipts for September
Collections from cash sales of September $ 5,000
Collections from credit sales of August - 57 % of $ 50,000 $ 28,500
Collections from credit sales of September 40 % of $ 59,001 <u>$ 23,600 </u>
Total collections for September $ 57,100
Answer: The amount of bad debt expense the company would record would be $3,470.
Explanation: Bad debt expense is an estimate of accounts receivable that is deemed as uncollectible while allowance for doubtful accounts is a balance sheet allowance account that warehouses the total balance of accounts receivable that is deemed irrecoverable.
In this scenario, Simple Co. estimated, using the aging method, that the allowance for doubtful accounts is $3,800. However, it had a credit balance of $330 in the same account. The reinstate the allowance account to $3,800, $3,470 has to be adjusted for by debiting bad debt expense and crediting allowance for doubtful account.
Answer: EMMA
Explanation:
MSRB is an acronym for The Municipal Securities Rulemaking Board and it is a body that is in charge of the regulating the body that gives policies and rules for the financial institutions that issue and sell municipal securities.
EMMA gives non-professional investors key information about municipal securities, including issuer financial disclosures, notices of material events, real-time prices, and market statistics.
