Explanation:
The Journal entry is shown below:-
On Jan 31
Allowance for doubtful accounts $2,800
To Accounts receivable - C. Green $2,800
(Being the uncollectible amount is recorded)
Mar 09
Accounts receivable - C. Green $2,300
To Allowance for doubtful accounts $2,300
(Being the written off amount is recorded
Mar 09
Cash $2,300
To Accounts receivable - C. Green $2,300
(Being the payment is received is recorded)
Answer:
Bond Price= $1,774.05
Explanation:
Giving the following information:
Coupon rate= 0.0573/2= 0.02865
YTM= 0.067/2= 0.0335
The bond matures in 23 years.
Par value= $2,000
<u>To calculate the bond price, we need to use the following formula:</u>
Bond Price= cupon*{[1 - (1+i)^-n] / i} + [face value/(1+i)^n]
Bond Price= 57.3*{[(1 - (1.0335^-46)] / 0.0335} + [2,000/1.0335^46]
Bond Price= 1,334.76 + 439.29
Bond Price= $1,774.05
Answer:
Net income = $3,560
Explanation:
Romney's Marketing Company
Multi-step income statement
For the Year ended December 31 20YY
Sales revenues 37,250
Less: Cost of goods sold = 0
Gross profit = 37,250
Less: Operating expense:
Wages expense = $19,000
Depreciation expense = $1,750
Utilities expense = $320
Insurance expense = $780
Rent expense = $9,800
Total operating expense = ($31,650)
Add: operating income:
Rent revenue = $560
Total operating income = $6,160
Other operating income
Interest revenue = 160
Net income before taxes = $6,320
Income tax expense = $2,760
Net income = $3,560
Answer:
D. Becoming eligible as a dependent on his or her parent's joint tax return
Explanation:
In the case when the individual is disqualify from claiming the premium tax credit at the time when it become eligible as a dependent based on joint tax return of his or her parent
So this is the case when a single individual disqualify from the tax credit
Therefore as per the given situtation, the option d is correct
