Answer:
which appropriate cell , the question is not clear
Depreciation Expense 3,060
Accumulated Depreciation 3,060
72,200-3,400=68,800/8yr=8,600*4yrs=34,400-72,200=37,800
37,800-7,200=30,600/10yr=3,060 annual depreciation
Answer:
All Choices (i) (ii) and (iii) except (iv) are correct.
Explanation:
Solution:
Choices (i) (ii) and (iii) are correct in this question.
As we know that, it is a forward contract at the time of maturity so, Boeing 747 will have to deliver 10 million euros to the bank as per the forward contract obligation (fulfills the choice (i)). Furthermore, with forward currency, after selling 10 million euro worth of contract, Boeing 747 will take delivery at 14.6 million dollars which is in US dollars as currency exchange (fulfills the choice (ii)). Hence, after maturity it will not have any exposure to euro (fulfills the choice (iii)).
Hence, All Choices (i) (ii) and (iii) except (iv) are correct.
Answer and Explanation:
b. any tax benefits that would be credited to additional paid-in capital
Answer:
Debit Bad debt expense account
Credit Accounts receivable
Being entries to account for uncollectible debts
Explanation:
Under the allowance method, when the organization estimates that there is a probability that a receivable may not be collectible, the entries posted are
Dr Bad debt expense account (P/L)
Cr Allowance for doubtful debt (B/S)
Where it has been determined that the debts are uncollectible (and no previous allowance had been made), the entries posted are;
Dr Bad debt expense account
Cr Accounts receivable
