Answer:
$6,540
Explanation:
Given:
accounts receivable of $238,000
allowance for uncollectable accounts of $600 (credit)
Also, the allowance for uncollectible accounts should be 3% of accounts receivable.
Therefore the amount of the adjustment for uncollectible accounts would be
= 3% of $238,000 - $600= $(7140-600)= $6,540
The system of checks and balances is an important part of the Constitution. With checks and balances, each of the three branches of government can limit the powers of the others. This way, no one branch becomes too powerful.
Hey there,
It is located on Wall street new lower Manhattan and it is the world's largest stock exchange<span> by market capitalization of listed companies.
Hope this helps :))
~Top
</span>
Answer:
The answer is: full disclosure principle
Explanation:
Full disclosure principle in accounting refers to the requirement that businesses are supposed to provide all material information pertaining to their operations to the stakeholders of the business so as to facilitate better decision-making frameworks when evaluating the business.
The going concern principle is based on the assumption that the business will not cease operating in the foreseeable future. The matching principle requires that the expenses incurred in carrying out an economic activity are recorded in the same period as the revenues earned from that activity. The historical cost principle requires assets or liabilities to be recorded at their acquisition value.
Answer:
Discount yield is 8%
Bond equivalent yield is 8.19%
Explanation:
The discount yield on the commercial paper is calculated as:
(($500,000 - $495,000)/$500,000 ) x (360/45)
= ($5,000/$500,000 x (360/45)
= 0.01 x 8
= 0.08
= 8%
And bond equivalent yield is calculated as:
(($500,000 - $495,000)/$495,000) x (365/45)
= ($5,000/$495,000) x 8.11
= 0.0101 x 8.11
= 0.0819
= 8.19%
