Answer:
Allowance for uncollectible accounts 15,000 debit
Acounts Receivables 15,000 credit
Acounts Receivables 15,000 credit
Allowance for uncollectible accounts 15,000 credit
Cash 15,000 debit
Accounts Receivables 15,000 credit
bad dent expense 830 debit
Allowance for uncollectible accounts 830 credit
Explanation:
We decrease both, teh allowance and account receivables to leave the net amount of A/R the same
Then, we reverse that entry as we recovery the account
Last, we proceed to record the collection of the account like any other.
The adjusting entry will recognize the bad debt expense against the allowance to decrease the net receivables
Answer:
Index.
Explanation:
Mutual funds are a type of investment that takes money from many investors and uses it to make investments based on a stated investment objective.
An index fund is a type of mutual fund with a portfolio constructed to match or track the components of the market index. These are mutual funds whose holdings aim to track the performance of a specific stock market index. Index funds also track bonds, real estate, and other types of assets. These funds are lower cost than other types of funds.
Answer:1. Cost on warehouse of
$8600
Answer. Debit cost of land
2. Sales of salvage materials of $1700
Answer. Credit cost of land
3. Attorney fee of $1100
Answer Debit cost of land
4.Broker fee of $5000
Answer. Debit cost of land
5. Architect fee $7800
Answer. Debit cost of land
6. Driveway and parking lot
Answer. Debit cost of land.
Explanation:
The cost of property includes the price of purchase and other related tax e.g vat paid on the property, plants or equipment.
The cost of the asset further includes all cost spent to bring it to the desired state of use while subtracting all income earned in the process and this necessitate the treatment of the cost of raising warehouse and salvage materials.
Included in the cost of the asset acquired are the professional fees incurred like the Architecture, Attorney etc. Furthermore the cost included the driveway and parking lots for they are also necessary to make it usable.
Answer:
D.Consumer Financial Protection Bureau.
Explanation:
The Consumer Financial Protection Bureau is a is a U.S. government agency that makes sure banks, lenders, and other financial companies treat fairly the citizen.
The most important areas of intervention of the bureau are:
- Monitoring unfair acts against the financial consumer.
- Demand the application of laws that harm the consumer.
- Receive consumer objections.
Answer:
WACC= 9.8%
Explanation:
<em>The weighted Average cost of Capital is the average cost of capital for the different sources of long-term capital available to a firm weighted according to the proportion each source of finance bears to the total capital in the pool. </em>
After-tax cost of debt = (1- tax rate) × before tax cost of debt
= (1-0.3)× 8% = 5.6%
Total Equity = 20,000× 2= 40,000.
Bank loan = 20,000
Total value fund = 40,000 + 20,000 = 60,000
WACC= 5.5%× (2/6) + 12%× (4/6) = 9.8%
WACC= 9.8%
