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MakcuM [25]
3 years ago
10

At the end of 2016, Sunland Company has accounts receivable of $653,700 and an allowance for doubtful accounts of $24,200.1.On J

anuary 24, 2017, it is learned that the company’s receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,245.
2.On March 4, 2017, Sunland Company receives payment of $4,245 in full from Madonna Inc.

Prepare the journal entries to record this transaction.
Business
1 answer:
Cloud [144]3 years ago
3 0

Answer

The answer and procedures of the exercise are attached in a microsoft excel document.  

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

Download xlsx
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​(Related to Checkpoint​ 5.2) ​(Future value) ​(Simple and compound​ interest) If you deposit ​$1 comma 000 today into an accoun
Anna35 [415]

Part A

Answer and its explanation:

Interest earned in the third year can be found from following two steps

Step 1 Use compounding formula for first two years, which is as under:

Future value = Present Value * (1+r)^n

Here n is the number of years the amount would be deposited for, which is 2 years duration. And r is the rate of return which is 8% here. So the future value in the year 2 will be:

Future value = $1000 * (1 + 0.08)^2 = $1166.4

Now the interest earned in the third year is:

Interest earned in the third year = $1166.4 * 8% = $93.312

Part B

Answer and its explanation:

The simple interest is the interest arising from the principal investment made in the year zero to date and this can be calculated as under:

Simple interest = Principal investment * rate of interest * number of years

Simple Interest = $1000 * 8% * 3years = $240

And the interest arising from the compounding of interest can be found by the difference of the Future value of the investment for three years and simple interest.

So,

Interest arising through compounding of interest = FV of investment in three years time - (Simple Interest + Principal investment)

Interest arising through compounding of interest = $1000*(1+0.08)^3 -$1240

= $19.712

6 0
3 years ago
The significant increase in consumer demand following World War II marked the beginning of the:
Tom [10]

Answer:

b. marketing concept era.

This era existed from 60's to 90's. And was called the 'baby boomer era'.  This era was focused on satisfy the client and producing goods and services.

And in order to satisfy this they use strategies of marketing in order to attract the customers.

Explanation:

a. production era.

False. This era was from 1860-1920 since this era occurs during the Industrial revolution and  not at the beginning of the second world war.

b. marketing concept era.

Correct. This era existed from 60's to 90's. And was called the 'baby boomer era'.  This era was focused on satisfy the client and producing goods and services.

And in order to satisfy this they use strategies of marketing in order to attract the customers.

c. customer relationship era.

False. This era was from 1990-2010 and was focused in create long-term relationships. So then is not the correct option if we analyze the historical time.

d. selling era.

This era was from 1920 and 1940 and not correspond to the begin of the second world war so this one is not the correct option.

6 0
2 years ago
Read 2 more answers
In a particular labor market, the demand for labor is given by W = 20 – (1 / 100)L, and the supply of labor is given by W = 4 +
djverab [1.8K]
The wage will create surplus of workers since it is above the equilibrium wage.
3 0
3 years ago
Tallow​, Inc. had reported the following​ balances: LOADING...​(Click the icon to view the 2018 and 2019 ​balances.) 11. Compute
Pachacha [2.7K]

Answer:

Explanation:

Rate of return on common stockholder's equity for 2019:

= (Net Income - Preferred Dividend) / Av. common stockholder's equity

= ($94,000 - $26,000) / $312,000

= $68,000 / $312,000

= 0.2179 or 21.79%

Av. common stockholder's equity 2019 :

Total stockholder's equity 2018 ( Common) = Total stockholder's equity - Stockholder's Equity attributable to preferred

= $318,000 - $22,000

= $296,000

Total stockholder's equity 2019 ( Common) = Total stockholder's equity - Stockholder's Equity attributable to preferred

= $350,000 - $22,000

= $328,000

Av. common stockholder's equity 2019 = ($296,000 + $328,000) / 2 = $312,000

7 0
3 years ago
Ted's company has recently reorganized. He has been reassigned into a new role for which he feels unprepared, and he is not sure
Paul [167]

Answer:

These are the options for the question:

  • Peer pressure
  • Personality conflict
  • Climate of mistrust
  • Fear of failure

And this is the correct answer:

  • Fear of failure

Explanation:

Ted is afraid of failing at his new role, he is suffering from fear of failure. This is because Ted was accustomed to completing a set of tasks specific to his previous position in the company.

Now that the company has reorganized, he has been given a new position, and new tasks to complete, and he does not feel at ease at first, likely because he lacks first-hand experience with some of the tasks.

4 0
3 years ago
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