Answer:
Debit to bad debt expense for $3,648
Explanation:
This is because the company needs to show the total amount in the Allowance for doubtful accounts as credit balance. It means that if for instance the balance today is $1,057 you'll need a new entry to adjust the balance with the bad debt.
It means that the entry must be a debit in bad debt expense for $3,648 while the corresponding credit goes to allowance for doubtful accounts.
Answer:
The futures price of the C$ should be 0.82/C$.
Explanation:
Let:
rUS = Risk-free rates in the United States = 5%
rC = Risk-free rates in Canada = 3%
S = Spot exchange rate = $0.80/C$
Since the rUS is greater than rC, we have:
Future price of C$ = S + ((rUS -rC) * S) = 0.80 + ((5% - 3%) * 0.80) = 0.80 + (2% * 0.80) = 0.80 + 0.016 = 0.816, or 0.82
Therefore, the futures price of the C$ should be 0.82/C$.
Answer:
8.54%
Explanation:
Current Index value:
= [current total market value of index stocks] ÷ [Base year total market value of index stocks] × Base year index value
= [(69 × 35000) + (122 × 32500)] ÷ [(63 × 35000) + (113 × 32500)] × 100
= 108.54
Return in percent:
= ( 108.54 - 100 ) ÷ 100
= 8.54%
Therefore, the value-weighted return for the index is 8.54%.
<span>Accountants must abide by a strict code of ethics that defines their responsibilities to their clients and to the public interest. Hope this answers the question. Have a nice day. Feel free to ask more questions. Thank you.</span>
