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Romashka-Z-Leto [24]
3 years ago
13

FAS 13 sets forth four criteria for determining whether or not a lease must be classified as a capital lease. How many of these

criteria must be met for capital lease classification?a. all fourb. threec. twod. only onee. depends on the limit set by the lessee
Business
1 answer:
storchak [24]3 years ago
4 0

Answer:

xszxszxs

Explanation:

xsxzxszxsz

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Facial Cosmetics provides plastic surgery primarily to hide the appearance of unwanted scars and other blemishes. During 2021, t
valentina_108 [34]

Answer: Please see explanation for answers

Explanation:

Age Group            Amount           Estimated Percent     Estimated  Amount

                              Receivable      Uncollectible                 Uncollectible

Not yet due             $ 32,000              4 %                          $1,280

0-30 days past due 10,200                 6 %                          $612  

31–60 days past due 7,200                 12 %                        $864

More than 60 days past due 2,600      30 %                      $780

Total                                  $ 52,000                                    $3536

Calculation

1) Estimated Amount Uncollectible = Amount Receivable x Estimated Percent      Uncollectible    =

4% x 32,000= $1,280

6% x 10,200=$612

12% x 7,200=$864

30% x2600=$780

Total = $3,536

The allowance for uncollectible accounts = $3,536

2) Journal to  Record the December 31, 2021, adjustment for a debit of $400

Estimated Amount Uncollectible =$3,536

Adjusted = $3536 + debit $400=$3,936

Date                   Account                  Debit             Credit

Dec 31, 2021,  Bad debts Expense    $3,936

Allowance for uncollectible accounts                    $3,936

3) Journal to  Record the write-off of $500

Date                   Account                              Debit             Credit

April 3, 2022,  Allowance for uncollectible

                             accounts                             $500

                         Accounts receivable                                     $500

4a)Journal to  reinstate  the account previously wrtten off  On July 17, 2022

Date                   Account                              Debit             Credit

July 17, 2022,   Accounts receivable             $100

Allowance for uncollectible  accounts                             $100

4b)Journal to record collection of cash  

Date                   Account                              Debit             Credit

July 17, 2022,   Cash                                    $100

     Accounts receivable                                                     $100

                                                                                                                   

5 0
3 years ago
Which of the following would be considered a subtopic for a mind map?
snow_lady [41]

Answer:

Free youngboy

Explanation:

and blogging would be considrerd the sub

3 0
3 years ago
Read 2 more answers
LCD Industries purchased a supply of electronic components from Entel Corporation on November 1, 2016. In payment for the $25.0
deff fn [24]

Answer:

We will use the following equations for this problem

a. (Initial cost  Estimated output) × Actual yearly output

b. (Depreciable cost  Yearly output) × Estimated output

c. Depreciable cost  Yearly output

d. (Depreciable cost  Estimated output) × Actual yearly output

8 0
3 years ago
This activity is important because it covers important terms for effective money management. The goal of this exercise is to ide
viva [34]

Remainder Part of the Question:

Build Your Financial Base Terms:

The ______ is one of the best places to put your money.

A _______ is one of the worst places to keep long-term investments.

You can use a _______ to keep track of purchases.

Your _______ is likely to be the largest of the most important investments you make.

It is wise to plan your financial future with _______.

Available Options are:

Credit Card, Bank Account, Home, Uncertainity, Excitement, car, insurance, stock market, payday loan.

Answers:

A. Stock market

B. Bank Account

C. Credit Card

D. Home

E. Insurance

Explanation:

A. The <u>Stock Market</u> is one of the best places to put your money.

Stock markets are the source of raising funds for investments by the companies. The stock market helps the investor to choose the investment with appropriate returns and risks. Furthermore the investor can also diversify its return by managing the portfolio of investments.

B. A <u>Bank Account</u> is one of the worst places to keep long term investment

The lowest returns are on saving accounts hence it is the worst place for long term investments.

C. You can use <u>Credit Card</u> to keep a track of your purchases.

Credit cards can be used for tracking all of purchases because monthly statement mailed to you includes all the spendings during the year.

D. Your <u>Home</u> is likely to be the largest of the most important investments you make

Buying home is considered as one of the largest investments as it takes substantial savings of the person to buy an house. A roughly estimate would be the savings of 3-4 years for a small house for a couple.

E. It is wise to plan your financial future with <u>Insurance</u>.

Because Insurance helps you to lower your financial risks. The risk is associated with life, home, car, and physical assets and thus the investor must use insurance facility.

8 0
3 years ago
HaAaAiii frRiIieEenNds wWaAanNnAaaA cCcCcHhHaAaAtTtT pweeeaaase
Yakvenalex [24]

Answer:

yeah sure what do you want to ch.At about

Explanation:

because i don't really care what we talk abt

5 0
2 years ago
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