Real estate commission fee
Answer: 9.20
Explanation:
In finance there is a rule for calculating this called 'The Rule of 70'.
With The Rule of 70, you are able to calculate the amount of time it will take an investment to double if you divide 70 by the growth rate of the investment.
In this scenario, the investment is your salary and the growth rate is 7.61% pee year.
The amount of time it will take to double is therefore,
= 70 / 7.61
= 9.19842312746
= 9.20 years.
It will take 9.20 years to double.
Answer:
Bad debt expense (w/o allowance) = $2,875
Bad debt expense ( with allowance) = $2,675.
Explanation:
According to the scenario, the given data are as follows:
Net credit sales = $115,000
Uncollectible percentage = 2.5%
So, we can calculate the bad debt expense without Allowance for doubtful accounts by using following method:
Bad debt expense ( W/o allowance) = $115,000 × 2.5%
= $2,875
After Allowance for doubtful expense
Bad debt expense = $2,875 - $200
= $2,675
Ending merchandise = beginning Merchandise + net purchases- cost of goods sold
Cost of goods sold= beginning merchandise + purchases during the period- ending merchandise
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