Answer:
The adjustment to record bad debts for the period will be:
Debit Bad debt expense ($20,000 - $3,000) $17,000
Credit Allowance for doubtful accounts $17,000
<em>(Bad debt expense required)</em>
Explanation:
Bicylce Company adopts the aging of accounts receivable method. The aging of accounts receivable is a criterion for apportioning the balance in the accounts receivable into different buckets (aging), for example: Not due, 1 - 30 days, 30 - 60 days, over 60 days, based on historical information and assigning a credit loss percentage to each bucket.
Since the Allowance for Doubtful Accounts has a $3,000 credit, to calculate the required bad debt expense, we need to back out this amount from the amount that is deemed uncollectible, that is $20,000 - $3,000 = $17,000.
Answer:<u> </u><u><em>Relevant cost of new preferred stock = 10.53%</em></u>
Explanation:
Given:
Dividend = $4.00 per share
Selling for = $40 per share.
Flotation costs = 5% of the selling price.
Marginal tax rate is 30%.
We can compute the cost of new preferred stocks using the following formula:
∴ Relevant cost of new preferred stock = 10.53%
Therefore, the correct option is (d)
The answer would be D noncumulative stock.
Hey there
Total Quality Management<span> (</span>TQM<span>) is a comprehensive and structured approach to an organizational </span><span>management.
</span>Total Quality Management refers to <span>systems that focus on quality. Make the quality more better and less cheaper. The better the quality of the item, the better they will make a profit. </span>
Connor and demi are employees of Eco crop corporation. under the equal pay act, Eco crop can legitimately pay different wages on the basis of seniority.
What is a Wages?
A wages is the amount of money that an employer agrees to pay a worker in exchange for their services. Actual earnings come in a variety of forms, including the following:
- Piece rates are the remuneration given in accordance with the job completed by the employee. The quantity of units generated by the employee is taken into account while calculating the piece rate.
- Time earnings are earned when a worker is compensated for his or her labor in accordance with the passing of time. For instance, time wages would apply if the worker received 35 rupees per day.
Learn more about Wages here:
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