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trasher [3.6K]
2 years ago
6

Identify any errors in the following partial balance sheet. The interest receivable should be __________________________________

__. The allowance for doubtful accounts should be ____________________________________.
WORD BANK
- added to the notes receivable
- deducted from accounts receivable
- reported separately as a current asset
- shown on the income statement as revenue

Business
1 answer:
Usimov [2.4K]2 years ago
8 0
The interest receivable should be reported separately as a current asset. The allowance for doubtful accounts should be deducted from accounts receivable.
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Answer:

C. Entrepreneurs aren’t exposed to any risk when starting a new business.

Explanation:

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Therefore, Entrepreneur exposed to the financial risk while starting their own business

hence, the correct option is C.

3 0
3 years ago
On March 3, Cobra Inc. purchased a desk for $440 on account. On March 22, Cobra purchased another desk for $585 also on account,
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Answer:

desks = 1,025

Explanation:

 440

<u>+585</u>

1,025

Notice:

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The debt or account payable at the moment doesn't reduce the valuation fo the desk.

The depreciation will. But we are not given with any numebr to calculate this, so we should ignore it for this assingment.

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3 years ago
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Answer:

$4,392,000

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So, the goodwill would be  

= $11,642,000 - $7,250,000

= $4,392,000

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