Answer:
-$144,000
Explanation:
Cash flow from financing activities
Payment to retire bonds payable -$361,500
Proceeds from borrowing at bank (note payable) $217,500
Net cash used by financing activities -$144,000
The payment made to retired bond payable reflects the outflow of cash so we deducted it and the borrowing at bank is a cash inflow so we added it
And, the rest items are not relevant. Hence, ignored it
Answer:
Being on time in business situations generally means being about 5 minutes early
Explanation:
5 minutes late is acceptable with a brief apology. Ten to fifteen minutes late requires a phone call to warn of the delay and to apologize.
Answer:
b. $22.500.
The estimate of bad debt expense is $22,500
Explanation:
Method of Bad Debt estimation = Percentage of credit sale
Bad Debt Expense = 3% of credit sale ($750,000)
Bad Debt Expense = 3% x $750,000
Bad Debt Expense = $22,500
Answer:
Explanation:
The journal entry is shown below:
On January 1, 2017:
Unearned compensation A/c Dr $120,000
To Common stock (4,000 × $3) $20,000
To Paid-in capital in excess of par value $100,000
(Being restricted stock is issued and the remaining balance is credited to the paid-in capital)
On December 31, 2018:
Compensation expenses A/c Dr $30,000
To Unearned compensation $30,000
(Being compensation expenses are recorded)
The compensation expenses is computed below:
= (Fair value of stock) ÷ (number of years)
= ($120,000) ÷ (4 years)
= $30,000
