Answer:
The entry made by Trust Company on January 1 to record the proceeds and issuance of the note is
Debit Credit
Cash $100,000
Notes Payable $100,000
The right answer is c
Explanation:
According to the given data the interest will not be adjusted at the time of loan proceed and issuance of note
Therefore, The entry made by Trust Company on January 1 to record the proceeds and issuance of the note is the following:
Debit Credit
Cash $100,000
Notes Payable $100,000
To record the borrowing
Answer:
d. $1050.
Explanation:
We multiply each account balance by the expected uncollectible amount and then addd them to get the expected total for doutful accounts
![\left[\begin{array}{cccc}Date&Amount&Expected&uncollectible\\$not due&10000&0.02&200\\$up to 30&5000&0.05&250\\$up to 60&3000&0.1&300\\$more than 61&800&0.5&400\\&&Total&1150\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bcccc%7DDate%26Amount%26Expected%26uncollectible%5C%5C%24not%20due%2610000%260.02%26200%5C%5C%24up%20to%2030%265000%260.05%26250%5C%5C%24up%20to%2060%263000%260.1%26300%5C%5C%24more%20than%2061%26800%260.5%26400%5C%5C%26%26Total%261150%5C%5C%5Cend%7Barray%7D%5Cright%5D)
Balance of the allowance account: 100
The expense will be the adjustment made on the allowance to get the expected balance of 1,150
1,150 - 100 = 1,050
we increase the allowance bu 1,050 to get our expected uncollectible fro maccounts receivable agaisnt the bad debt expense ofthe period.
Answer:
Cornea Company
Income Statements For Years Ended December 31
2019 2018
Amount Percent Amount Percent
Fees earned $680,000 100% $576,000 100%
Operating expenses <u>$482,800</u> 71% <u>$420,480</u> 73%
Operating income <u>$197,200</u> <u>29%</u> <u>$155,520</u> <u>27%</u>
<u></u>
Operating expense working
2019= 482,800/680,000 * 100/1= 71% = 0.71
2018= 420,480/576,000 * 100/1= 73% = 0.73
Operating Income working
2019= 1 - 0.71 = 0.29 = 29%
2018= 1 - 0.73 = 0.27= 27%
300
Divide 3600 by 100= 36
divide 36 by 12= 3
multiply 3 by 100=300
Answer: When an organization is planning for mass casualty incidents, an effective approach is to request law enforcement personnel to develop a separate plan for mass casualty incidents for the organization
Explanation:
A Mass Casualty Incident refers to an overwhelming event, which leads to more patients at a time than what the available resources can easily manage such that it requires additional assistance.
A plan for mass casualty incidents should include protective actions that will be used to reduce vulnerabilities, response actions to minimize negative consequences, and post incident actions to promote community recovery.
A partnership approach to planning for mass casualty incidents is important as it helps in ensuring that the plans for your organization are compatible with those of the agencies that would respond if an incident occurred.
It's also vital to customize your emergency plan to reflect the risks, realities, and resources that characterize the local area and your own organization.
The false statement is "When an organization is planning for mass casualty incidents, an effective approach is to request law enforcement personnel to develop a separate plan for mass casualty incidents for the organization". This isn't true.
