Prepare journal entries to record each of the following four separate issuances of stock.

Tanning Company analyzes its receivables to estimate bad debt expense The accounts receivable balance is $300 000 and credit sal

pentagon [3]

Answer: Bad Debt Expense 28,000 Allowance for Doubtful Accounts 28,000

Explanation:

Account receivable = 300,000

Percentage uncollectible = 10%

Current balance = 2000

Adjustment to allowance for uncollectible accounts is given by :

(Account receivable ×percentage uncollectible) - current balance

(300,000 × 10%) - 2000

(300,000 × 0.1) × 2000

30,000 - 2000 = 28,000

Therefore, adjustment should be :

bad debt expense debit 28,000

allowance for doubful account credit 28,000

6 0

3 years ago

Draft an inquiry letter for purchase of 10 units of IBM P4 computers and 2 units of Lx 300 Epson printers to Kathmandu Computers

gtnhenbr [62]

Based on writing standards, the inquiry letter for purchase should begin with the sender's address and be written like a formal letter.

<h3>Structures of Letter of Inquiry.</h3>

The sender's address should be written at the beginning of the letter, followed by the receiver's address.

The letter must contain all the elements of the enquiring item, including their quantities.

There must be the date and address of the receiver included.

The letter's subject must be written clearly before the letter's content.

Ensure you provide the expected salutation at the beginning of the letter.

Write clearly and straightforward.

Provide reasons and inquiry descriptions.

Add your signature, name, and designation at the end of the letter.

Hence, in this case, it is concluded that there are specific ways to write a good inquiry letter.

Learn more about Inquiry Letter here: brainly.com/question/4208084

4 0

2 years ago

Trusper Company was organized on January 1, Year 1 and has had 1,000 shares of $200 par value, 10% cumulative preferred stock ou

Masja [62]

Answer:

Trusper Company

The total amount of dividends that will be paid to common stockholders during Year 2 is:

$40,000.

Explanation:

a) Data and Calculations:

10% cumulative preferred stock = $200,000 ($200 * 1,000)

Common stock = $3,000 (3,000 * $1)

Dividends in Year 1 for cumulative preferred stockholders = $20,000 ($200,000 * 10%)

Dividends outstanding after Year 1 for cumulative preferred stockholders = $15,000 ($20,000 - $5,000)

Dividends for Year 2 for cumulative preferred stockholders = $35,000 ($20,000 + $15,000).

Total dividend paid to common stockholders during Year 2 = $40,000 ($75,000 - $35,000)

b) The unpaid cumulative preferred stock dividend of $15,000 for Year 1 will be added to the dividend of the Year 2. The common stockholders are not paid any dividends in Year 1. But in Year 2, they will get $40,000 after the cumulative preferred stock dividends are paid.

3 0

2 years ago

Emmy worked late nights at a convenience store. One night, Emmy discovered that the ""emergency alert"" security system was not

Margaret [11]

Answer:

The correct answer is letter "A": for negligence because the harm was foreseeable.

Explanation:

In Law, foreseeability is a concept related to what the proximate causes could be after an event. The concept is helpful to determine the limit of liability according to the primary event that happened and the type and manner of harm. The harm caused by rescuers like firefighters and negligence of health care providers like doctors and nurses is considered foreseeable.

<em>In Emmy's case, the repeated thefts to the store where she works while having a nonfunctioning alarm (negligence) make the store owner liable for the injuries caused by a perpetrator who broke Emmy's leg during a robbery since that event was foreseeable.</em>

6 0

2 years ago

The interest rate for this lease is 11%. the payments are due on december 31 of each year. the first payment was made on decembe

Artist 52 [7]

So what is the question? This is just a statement.

4 0

3 years ago