The answer to the question is going to be C. Draw a conclusion from the case study
Answer:
Journal entry to record Smith's payment
- Dr Cash account 500
- Cr Accounts Receivable account 500
Explanation:
The following journal entry was made when the account was written off:
- Dr Bad Debt Expense account 500
- Cr Accounts Receivable account 500
When the write off was reversed the following journal entry was made:
- Dr Accounts Receivable account 500
- Cr Bad Debt Expense account 500
Answer:
Macroeconomics is a very relevant subfield of economics because it studies economic matters at the aggregate level, that means things such as inflation, unemployment, economic growth, investment, saving, and many other economic phenomena that are very relevant for all countries, all governments, and essentially everybody around the world.
Macroeconomics is a contested field, with some points in agreement, but many others in dispute among economists. For this reason, the policy recommendations that are based on macroeconomic criteria are often very different, and frequently clash into political conflict.
Economic policy decisions never produce exactly the expected result, but they often give a satisfactory result (not always). For example, the monetary policy based on the principles of monetarism did manage to bring down inflation substantially ever since it began to be applied in the late 1970s.
Answer:
The answer is given below
Explanation:
Compounding frequency is the number of times the interest is paid in a year. A higher compounding frequency for a investment with the same initial investment and time horizon would produce more interest and profit as compared to that with a lower compounding frequency. But for a smaller initial investment or less time horizon of higher compounding frequency as compared to larger initial investment or more time horizon of lower compounding frequency, that of the lower compounding frequency is more desirable because it would produce more interest.
Answer: $50,55,000
Explanation:
Cash = $875,000
Accounts receivable = $2,695,000
Quarterly installments = $150,000 × 4 = $600,000
Inventory = $2,085,000
The current assets:
= Cash + [Accounts receivable - (quarterly installments)] + Inventory
= $875,000 + [$2,695,000 - ($150,000 × 4)] + $2,085,000
= $50,55,000
Therefore, the total current assets of a company is $50,55,000.
