Answer:
Credit cards are neither good nor bad. They are financial tools that must be used with care. Cards can help or hurt your finances if you don't use them responsibly. At the same time, credit cards used properly offer a convenient payment method that can build credit and earn rewards for users.
Explanation:
As miles consider approaching a venture capital firm to provide funding for his new mobile app, he should realize that a venture capital firm will probably want an ownership interest in the business.
The capital of a corporation is the money it has daily to pay for its operations and every day fund its destiny growth. The 4 essential sorts of capital consist of going for walks capital, debt, equity, and buying and selling capital. shopping for and promoting capital is utilized by brokerages and different financial establishments.
In the company, capital method the coins an agency desires every day feature and make bigger. normal examples of capital consist of cash at hand and bills receivable, close to cash, fairness, and capital belongings. Capital assets are massive, lengthy-term assets no longer intended normally be bought as part of your ordinary organization.
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Answer:
e. Debit Allowance for Doubtful Accounts $2,000
Credit Accounts receivables A-Hopkins $2,000
Explanation:
When a company use the allowance method of accounting for uncollectible accounts, the company would actively review and book bad debt expenses for any debt in doubt of collection. The entry would be; Debit Bad debt expenses, Credit Allowance for doubtful debt
However, where there is sufficient evidence that these debts goes into default, no more expenses would be recorded , instead
Dr. Allowance for doubtful debt $2,000
Cr. Account receivable $2,000
(To record written off receivables)
Answer:
$20,000 ordinary gain
Explanation:
Data provided in the question:
Cash proceeds from Selling of the equipment = $50,000
Purchasing cost of the equipment = $60,000
Depreciation expense = $30,000
Now,
The book value of the equipment
= Purchasing cost of the equipment - Depreciation expense
= $60,000 - $30,000
= $30,000
Since,
the amount of proceeds from sales is higher than the book value of the equipment
Therefore a gain will be recognized
The amount of Gain = proceeds from Selling - book value
= $50,000 - $30,000
= $20,000
Hence,
$20,000 ordinary gain
Answer:
$,9789.97
Explanation:
Calculation to Find the payment (X) that he will receive at year 10
Using this formula
Let plug in the formula
Present Value = CF2/(1+r)^2 + CF6/(1+r)^6 + CF10/(1+r)^10 + CF4/(1+r)^4
Let plug in the formula
17,000 = 8,500/1.06^2 + 9,000/1.06^6 + X/1.06^10 - 3,000/1.06^4
Payment (X) = (17,000 - 13,909.61 + 2,376.28)*1.06^10
Payment (X) == $,9789.97
Therefore the payment (X) that he will receive at year 10 will be $,9789.97
