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3 years ago

6

Amend Inc. debited Accounts Receivable and credited Allowance for Uncollectible Accounts to reestablish an account previously wr

itten off. Amend Inc. should also debit _______ and credit _______. Multiple choice question. Accounts Receivable; Cash Cash; Allowance for Uncollectible Accounts Cash; Accounts Receivable Allowance for Uncollectible Accounts; Cash

1 answer:

goldfiish [28.3K]3 years ago

5 0

Answer:

Cash; account receivable

Explanation:

The journal entry to reestablish an account previously written off is given below:

Cash Dr XXXXX

To account receivable XXXXX

(being the reestablish an account previously written off is recorded)

Here the cash is debited as it increased the assets and account receivable is credited as it decreased the assets

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Sean, age 37, wants to maximize his 2021 Roth IRA contribution and purchase as much Beyond Meat stock as possible. If BYND stock

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37 shares that he can purchase

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3 years ago

Roy Company manufactures a product in Departments A and B. Materials are added at the beginning of the process in Department B.

slamgirl [31]

Answer:

Number of equivalent units= 18,000

Explanation:

Giving the following information:

Conversion costs for Department B were 50% complete concerning the 6,000 units in the beginning work in process and 75% complete for the 8,000 units in the ending work in process. A total of 12,000 units were completed and transferred out of Department B during February.

With the information provided, we can calculate the number of equivalent units of the period.

Beginning work in process = 6,000*0.5= 3,000

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3 years ago

Halestorm Corporation’s common stock has a beta of 1.20. Assume the risk-free rate is 4.5 percent and the expected return on the

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Answer:

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Ke = 4.5 + 1.20(12-4.5)

Ke = 4.5 + 9

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3 years ago

Record the entry to close the income summary assuming the partners agree to use plan c and net income is $460,500

slava [35]

The entry is record in book as

Date Particular L.F. Dr. Amt. Cr. Amt.

Income summary a/c $460,500

To Mo a/c $69,300

To Lu a/c $269,500

To Barb a/c $431,200

What is net income?

The total amount of firm profit after deducting all taxes, costs, and interest is referred to as "net income."

Particulars Mo Lu Barb

Capital invested $69,300 $269,500 $431,200

Profit sharing ratio 20/100 40/100 40/100

Profit ($460,500) 92100 184200 184200

As a result, Mo is 92100; Lu is 184200; Barb is 184200 as profit.

Learn more about on net income, here:

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2 years ago

Jenna purchased 500 shares of XYZ stock for $10 per share. The stock paid the following dividends: Year 1: $0.25 per share Year

aleksley [76]

Based on the price of the stock and the dividend over the years, the time-weighted return of XYZ stock is 16.83%.

<h3>What is the time-weighted return of XYZ stock?</h3><h3 />

In this case, the Time weighted return can will be the same as the IRR so the IRR function on a spreadsheet can be used to find the return.

Year 0 return = -$10 per share

Year 1 = $0.25

Year 2 = $0.27

Year 3 = (0.29 + 15) = $15.29.

Time weighted return will be 16.83% as shown in the attachment.

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2 years ago