Answer:
$942,500
Explanation:
Calculation to determine what amount should Blue report as loss from discontinued operations
Using this formula
Loss from discontinued operations=[(Operating loss+Fair value)*Tax rate]
Let plug in the formula
Loss from discontinued operations=[($1,000,000+ $450,000)* (100% - 35% tax rate)]
Loss from discontinued operations=$1,450,0000*65%
Loss from discontinued operations= $942,500
Therefore what amount should Blue report as loss from discontinued operations is $942,500
The inventory ledger contains the data regarding the amount of each type of merchandise a company has. To add up, the inventory ledger is the record in which its main function is to "track inventory transactions." It is important that the contents of the inventory ledger should coincide with the general ledger.
Answer: the question is: How do you measure whether both the policy and the right processes were followed?
Explanation:
Answer:
6%
Explanation:
Given the following :
Amount of bond issued = $10,000,000
Cash paid = $300,000
Term of bond = 10years
Semiannual interest pay
The stated annual rate of interest on the bond can be calculated thus :
Rate of interest ;
Cash paid / Amount of bond issued
$300,000 / $10,000,000
= 0.03
0.03 * 100%
= 3% (semiannual interest)
Therefore, annual rate of interest :
Semiannual rate * 2
3% * 2 = 6%
Answer:
Consider the following explanations
Explanation:
1). Balance of allowance for uncollectible accounts on 12/31/2021 is $66,500.
2). Journal entry for adjusting the allowance for uncollectible account is :
Here we already have $22,000 credit balance in allowace for uncollectible account and hence adjusting entry is of $44,500 which makes the ending balance of allowace for uncollectible account to $66,500 credit.
3). Net account receivable balance on 12/31/2021:
Accounts receivables total = $520,000
Less: Allowance for uncollectible account = $66,500
Net Account Receivables = $453,500
