Answer:
$9,000
Explanation:
Bad Debts Written off $22,000
Uncollectible accounts-recovered $(8,000)
Allowance for doubtful accounts reversed
(opening-closing $40,000-$35,000*) ($5,000)
Bad Debt Expense for the year $9,000
*270,000-235,000 =35,000
Answer:
$620,000
Explanation:
The amount of compensation expense that Korsak should recognize for the year ended December 31, 2022:
= [($34-$20)*124,000*3/4] - [($31-$20)*124,000*2/4]
= [$14*124,000*3/4] - [$11*124,000*2/4]
= $1,302,000 - $682,000
= $620,000
Note: The answer is not included in the option above
Answer:
Thus, payback period is = 3 years and 1.61 months
Explanation:
Payback period is the time it will take the project cash flows to recover the initial investment. The payback period for the project in question will be,
<u>Year</u> <u>Cash flow</u> <u>Remaining Amount</u>
1 850 (6900 - 850) = 6050
2 2400 (6050 - 2400) = 3650
3 3100 (3650 - 3100) = 550
As the year 4 cash flow is 4100, we know that the amount will be recovered in year 4. However, we will calculate the exact period or months in year 4 that it will take to recover total initial investment assuming that cashflow occurs at constant rate through out the year.
Time = 550 / 4100 * 12 = 1.61 months
Thus, payback period is = 3 years and 1.61 months
Answer:
The investment in Son Corp. should be reported on Pops' December 31, 2018 balance sheet at $1,920,000 ($10 * 192,000).
Explanation:
There is no indication that the fair price of the shares of Son Corp. has changed from its original cost of $10. Therefore, the investment in Son Corp. can only be reported on the balance sheet of Pops' at the cost price on acquisition. But, assuming that the price has fluctuated over the period, the investment would have been valued at the current market price multiplied by the number of shares.
