exercise 7-7 (algo) determining bad debts expense using financial disclosures lo p2 helix reported the following information in its financial statements. write-offs of accounts receivable were $250 in the current year. helix did not recover any write-offs. at december 31current yearprior year accounts receivable$ 6,000$ 4,500 allowance for doubtful accounts500400 accounts receivable, net$ 5,500$ 4,100 determine bad debts expense for the current year.
Answers
Bad debt expense for the year A)Allowance for doubtful accounts for prior year = $380 B) Accounts receivables written off = $230 C) Allowance for doubtful accounts for current year = $460
Bad Debt expense for the year = C - (A - B) = $460 - ($380 - $230) = $310. bad debt is a form of account receivable for a corporation that has grown unrecoverable from of the customer due to the customer's incapacity to repay the amount of funds decided to borrow from the corporation on credit.
You must debit bad debt expense and credit allowance for doubtful accounts to record bad debt expenses. There is no contra asset account to record bad debt expenses when using the write-off method.
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Related Questions
Which nims management characteristic includes maintaining?.
Answers
The NIMS management characteristic that includes maintaining is Resource Management. Resource Management is a critical component of incident management, and it involves the coordination of resources, equipment, and personnel, as well as the implementation of plans and procedures to ensure that the incident is successfully managed.
Resource management in NIMS refers to the ability to acquire, allocate, and manage resources during an incident. It encompasses all aspects of resource management, including the identification of required resources, the allocation of resources, the tracking of resource utilization, and the reporting of resource status. Resource management also includes the establishment of processes and procedures for requesting, ordering, and receiving resources from various sources, including mutual aid organizations and other jurisdictions.
NIMS recognizes that resource management is critical to the success of incident management, and as such, it has developed standardized resource management procedures and tools that can be used by all organizations involved in emergency response. These tools and procedures help ensure that resources are used effectively and efficiently, and that incident commanders have the information they need to make informed decisions.
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___ should not be included on the resume
references
white space
hobbies
or All the Above
Answers
Answer:hobbies
Explanation:
What is down payment with regarding to buying a house?
Answers
The Italy can produce 20 Gas turbines and 60 Tyres. France can produce 80 Gas turbines and 30 Tyres.
a). What is the opportunity
cost of producing Gas turbines in Italy? ______ tyres.
b). What is the opportunity cost of producing Tyres in
France ? _______ Gas turbines.
Answers
Answer:
1. 60 Tyres
2. 80 Gas Turbines
Explanation:
Given that the Opportunity cost is an economics term that is used in describing the cost of an alternative that must be forgone to continue or proceed with a certain activity.
Hence, in this case, considering the available information in the question, the correct answer is that the opportunity cost of producing Gas turbines in Italy is 60 Tyres.
At the same time the opportunity cost of producing Tyres in France 80 Gas turbines.
I need a good answer to this by Friday. Research various sources or Web sites that can help an entrepreneur with writing a business plan.
Now create a "Top 10" list of these sources in a table. The first one has been done for you.
Discuss what your first choice of sources to use as an entrepreneur would be and explain why.
Answers
The Web sites that can help an entrepreneur in writing a good business plan are:
The Economist.Forbes.com/entrepreneur.Under 30 CEO, etc.What is a business plan?A business plan is known to be a kind of written document that tells onw what they need to know about how a business can be run and also startup.
Concussively, Note that a business plan is regarded as the roadmap for any company in terms of marketing, financial standpoints, etc. The Economist will help the entrepreneur to know more about starting a business and what the market looks like.
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When do the children have a stake in Merck's operations according to stakeholder theory of corporate obligation?
[] When Merck distributes the drug creating a direct effect between the children and Merck.
[] When Merck begins to research and develop the drug creating a significant potential for an effective treatment of river blindness.
[] The moment Merck finds out that they have stumbled upon a potential treatment or cure for a deadly disease affecting third world countries,
[] When those suffering from river-blindness can pay for a drug that cost millions to research and develop by Merck.
Answers
Children have a stake in Merck's operations according to stakeholder theory when the company distributes the drug, creating a direct effect between the children and Merck.
According to stakeholder theory of corporate obligation, the moment children are directly affected by Merck's operations, they have a stake in the company. Therefore, the statement that aligns with this principle is: "When Merck distributes the drug, creating a direct effect between the children and Merck."
In stakeholder theory, stakeholders are individuals or groups who are affected by or can affect the actions and decisions of a company. The theory suggests that companies have an obligation to consider the interests and well-being of all stakeholders, not just shareholders. In this case, the children become stakeholders when they are directly affected by the distribution of the drug produced by Merck.
Therefore, Children have a stake in Merck's operations according to stakeholder theory when the company distributes the drug, creating a direct effect between the children and Merck.
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this type of coverage pays the amount necessary to repair, rebuild, or replace an asset at current market prices.
Answers
The money required to rebuild, replace, or repair a property is covered by the property insurance kind of coverage at current market rates.
The cost to replace a critical asset, such as a piece of real estate, an investment security, a lien, or another object, with one of equal or greater worth is referred to as replacement cost.
The cost incurred to replace an asset with a new one of equal value is known as replacement cost. The insurance that guards against loss from theft, fire, and other perils for the tangible assets and equipment of the business or residence is known as a property insurance policy.
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1.Re-read the article "The New Mestiza," by Gloria Anzaldua. Answer the following questions: How does the history of America's Southern Border demonstrate how class and race intersect to disempower Mexicans and Indigenous people who live in this increasingly precarious area? a. Racial Breakdown of Stop-and-Frisk Targets in NYC 1600 1400 1200 1000 800 1 600 400 200 0 Stops per 100,000 persons 1998 6661 2000 2001 2002 2003 2004 2008 2009 2010 2011 2012 Whites Blacks Hispanics Others Source: City of New York, NYPD, Stop Question and Frisk Report Database, http://www.nyc.gov/html/nyp d/html/analysis and planning /stop_question_and_frisk_re port.shtml 3. Social Class Differences in Family-School Relationships: The Importance of Cultural Capital," presents research about the reproduction of social class as it occurs in one segment of education. What are the modifications that teachers can adapt to assuage the differences that Lareau identified in her research? Cite in your answer specific research findings to support your argument, then develop a solution. 4. Re-read the Bonilla Silva and Forman article, "I Am Not A Racist..." Answer the following question. What do the findings of the qualitative interviews indicate about isolation from a racial group? 5. How does habitus change? Accessibility: Investigate O W t Predictions: On W DF
Answers
America's Southern Border has a long history of discrimination, oppression, and marginalization against Indigenous and Mexican people.
For instance, many Mexicans in the region are migrant workers who are often paid less than minimum wage with no benefits. Additionally, they do not have adequate housing, and they are also subjected to poor working conditions. Such working conditions perpetuate economic and social inequality. When students feel valued, they are more likely to engage in the learning process. Research findings from Lareau's study indicated that teachers can build relationships with their students by showing an interest in their lives outside of school.
When students connect with each other, they feel more engaged and are more likely to participate in class discussions. Qualitative interviews on isolation from a racial group indicate that it can have a negative impact on individuals' well-being. For instance, participants in the study by Bonilla Silva and Forman reported feeling lonely and isolated from their racial group when they did not conform to the racial stereotypes associated with their group. Participants also reported feeling like they were not part of any community.
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What words come to mind, both positive and negative, when you think about budgeting?
Answers
Answer:
Positive:
-Managing money
-Saves money for other things
Negative:
-May be hard to budget if you need a lot
Hope this helps! These are just what come to mind in my opinion.
What are some steps needed to have a good buisness?
Answers
Answer:
Conduct market research. Market research will tell you if there's an opportunity to turn your idea into a successful business.
Write your business plan.
Fund your business.
Pick your business location.
Choose a business structure.
Choose your business name.
Register your business
Get federal and state tax IDs.
Mark brainliest :)
What so AIA,SAG,AMA stand for
Answers
Answer:
AIA stands for American Institute Of Architects
SAG stands for Screen Actors Guild
AMA stands for American Medical Association
Explanation:
Carmax is a national chain that sells used cars. the likely impact of its arrival in the market would be to _____. everything else held constant, this would likely _____ the price of used cars.
Answers
Answer:
1. shift the supply of used cars to the right
2. lower
Explanation:
1. With carmax's arrival in the market this has caused the number of sellers to increase thereby shifting the supply curve to the right. An increase in the number of sellers increases the quantity supplied at each price.
2. Since the supply of used cars have increased and demand remains the same, there will be a surplus in the market for used cars resulting in lowered prices of used cars.
The three elements of the marketing concept are __________.
a. Market share, customer needs, marketing mix
b. Customer needs, company goals, profits
c. Channel management, customer needs, profits
d. Planning, target market, social media marketing
Answers
Answer:
B. Customer needs, company goals, profits
Explanation:
Journalize these transactions for Sampson Co. If an amount box does not require an entry, leave it blank
Answers
The journal entries of these transactions for Sampson Co. using the perpetual inventory method are as follows:
Journal Entries:Dec. 1: Debit Accounts Receivable (Batson Co.) $46,000
Credit Sales Revenue $46,000
Terms 2/15, net 45.
Debit Cost of Goods Sold $38,500
Credit Inventory $38,500
Dec. 6: Debit Cash $45,080
Debit Cash Discounts $920
Credit Accounts Receivable (Batson Co.) $46,000
Transaction Analysis:Dec. 1: Accounts Receivable (Batson Co.) $46,000
Sales Revenue $46,000
Terms 2/15, net 45.
Cost of Goods Sold $38,500
Inventory $38,500
Dec. 6: Cash $45,080
Cash Discounts $920
Accounts Receivable (Batson Co.) $46,000
Question Completion:Dec. 1 Sampson Co. sold merchandise to Batson Co. on account, of $46,000, terms 2/15, net 45.
The cost of the merchandise sold is $38,500.
Dec. 6 The Batson Co. paid the invoice within the discount period.
Sampson Co. uses the perpetual inventory method.
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Imagine that you are the supervisor of a pharmacy. You have received a few complaints about mistakes in customer's prescriptions. To improve the quality of service delivered by the pharmacies, you can concentrate on (a) doing a better job of catching errors in the future or (b) doing a better job of avoiding errors. Which approach would you choose? Explain.
Answers
Answer:
b tell me whether I've got it or not
true or false liberal democrats advocate for a free market economy.
Answers
False. Liberal democrats advocate for a free market economy.
Liberals considered free market economy to be a chance for industrialist business visionaries to succeed.
The free market economy is a monetary framework in light of organic market with practically no administration control. It is an outline depiction of all willful trades that occur in a given financial climate. Unregulated economies are described by an unconstrained and decentralized request of plans through which people pursue financial choices.
In light of its political and legitimate standards, a nation's unrestricted economy might go between extremely huge or completely unlawful. The expression "unregulated economy" is once in a while utilized as an equivalent for free enterprise. At the point when a great many people examine the "unrestricted economy," they mean an economy with unhampered contest and just confidential exchanges among purchasers and dealers. Nonetheless, a more comprehensive definition ought to incorporate any intentional financial action inasmuch as it isn't constrained by coercive focal specialists
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Hardmon Enterprises is currently an all-equity firm with an expected return of 17.1%. It is considering borrowing money to buy back some of its existing shares. Assume perfect capital markets.
a. Suppose Hardmon borrows to the point that its debt-equity ratio is 0.50. With this amount of debt, the debt cost of capital is 6%. What will be the expected return of equity after this transaction?
b. Suppose instead Hardmon borrows to the point that its debt-equity ratio is 1.50. With this amount of debt, Hardmon's debt will be much riskier. As a result, the debt cost of capital will be 8%. What will be the expected return of equity in this case?
c. A senior manager argues that it is in the best interest of the shareholders to choose the capital structure that leads to the highest expected return for the stock. How would you respond to this argument?
a. Suppose Hardmon borrows to the point that its debt-equity ratio is 0.50. With this amount of debt, the debt cost of capital is 6%. What will be the expected return of equity after this transaction?
The expected return is ____% (Round to two decimal places.)
Answers
a) The expected return of equity after the transaction is 11.55%. b) The expected return of equity in the case is 20.55%. c) The response to the argument is that equity and debt cost should be balanced. a) The expected return is 6%.
a) With debt-equity ratio = 0.50, we can calculate the weights of debt and equity respectively.
Using the formula, WACC = wd * kd * (1 - T) + we * ke.
WACC = 6% * 0.5 + 17.1% * 0.5
WACC = 0.03 + 0.0855
WACC = 0.1155 = 11.55%
Thus, the expected return of equity after this transaction is 11.55%.
b) With debt-equity ratio = 1.50, we can calculate the weights of debt and equity respectively.
Using the formula, WACC = wd * kd * (1 - T) + we * ke.
WACC = 8% * 1.5 + 17.1% * 0.5
WACC = 0.12 + 0.0855
WACC = 0.2055 = 20.55%
Thus, the expected return of equity after this transaction is 20.55%.
c) The senior manager's argument is not completely valid because if the company chooses the capital structure with the highest expected return, the level of risk increases accordingly, which ultimately increases the WACC. Thus, the optimal capital structure should be the point where the WACC is the lowest, not where the expected return is the highest. This means that the company should choose the point where the cost of equity and debt is balanced.
a) The WACC formula is:
WACC = W_d * Cost of Debt + W_e * Cost of Equity
In this case, the debt cost of capital (Cost of Debt) is given as 6%, and we need to calculate the cost of equity.
Since the total debt and equity must sum up to 100% of the firm's value, we can determine the weight of equity as:
W_e = 1 - W_d = 1 - 0.50 = 0.50
Now we can calculate the expected return of equity:
WACC = W_d * Cost of Debt + W_e * Cost of Equity
0.06 = 0.50 * 0.06 + 0.50 * Cost of Equity
0.06 = 0.03 + 0.50 * Cost of Equity
0.03 = 0.50 * Cost of Equity
Cost of Equity = 0.03 / 0.50 = 0.06 = 6%
Therefore, the expected return of equity after this transaction is 6%.
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On October 1, Black Company receives a 6% interest-bearing note from Reese Company to settle a $18,600 account receivable. The note is due in six months. At December 31, Black should record interest revenue of
Answers
Black Company should record interest revenue of $279 at December 31.
Black Company received a 6% interest-bearing note from Reese Company on October 1 to settle an account receivable of $18,600. The note is due in six months, which means it will mature on March 31. In the meantime, Black Company needs to record interest revenue for the period that the note was outstanding.
To calculate the interest revenue, we need to use the following formula:
Interest = Principal x Rate x Time
The principal is $18,600, and the rate is 6%. The time is calculated from October 1 to December 31, which is three months.
Interest = $18,600 x 6% x (3/12) = $279
Therefore, Black Company should record interest revenue of $279 at December 31. It is important to note that Black Company will continue to accrue interest on the note until it is fully repaid by Reese Company at the maturity date of March 31.
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Describe your financial goal. Based on the steps you learned about in this
module, what are at least three strategies you can use to reach this goal?
Answers
When preparing a cvp graph, the horizontal axis represents ______.
Answers
When preparing a cvp graph, the horizontal axis represents the level of output, which is the number of goods or services produced.
A cost-volume-profit (CVP) graph is a graph that displays the connection between sales, costs, and profits over a range of output levels. It's a straightforward but powerful tool for determining the profit potential of a company at various levels of activity.
The horizontal axis, also known as the x-axis, is used to display the units of the item produced, also known as output or volume. The vertical axis, also known as the y-axis, is used to display the overall cost of producing the item. CVP analysis is important for determining the point at which an organization will break even. To put it another way, this analysis seeks to determine the level of output or revenue needed to cover all expenses incurred in the process of generating the income.
Thus, the level of output is measured on the horizontal axis (x-axis) in a cost-volume-profit (CVP) graph.
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Use the drop-down menus to explain how to create a subreport. 1. Open the table in view. 2. On the Design tab, click Min Grouping & Totals. 3. Select "with a footer section" from a drop-down menu in a pane below. 4. Next, choose Subform/Subreport from the command group. 5. Place the cursor at an insertion point. Then, to create a space. 6. In the Subreport Wizard, choose what you want to include in the subreport from the main table. 7. Once you are satisfied, create a name for the subreport, and click Finish. DO NOT PUT ANY FILES JUST THE ANSWER.
Answers
Answer:
design
group and sort
control
click and drag
Explanation:
gg
If you know the answer plz help me out
Answers
Answer:
o Location
Explanation:
o Location
You need a new computer, and you will need a loan in order to buy one. Which lender is most likely to charge you the highest interest rate on your loan?
A. finance company
B. savings and loan association
C. credit union
D. savings bank
Answers
hope this helps!! <3
Savings and loan association is the lender is most likely to charge you the highest interest rate on your loan. Hence, option B is correct.
What is the main purpose of a savings and loan association?Building Societies or Savings and Loan Associations perform the same fundamental duties by gathering funds from the general public and using those savings to fund mortgage loans for residential real estate.
The S&L crisis may have caused the banking sector to collapse with the greatest degree since the Great Depression. By 1989, more than 1,000 S&Ls had failed nationwide, thus destroying one of the most reliable sources of house mortgages.
In that they provide many of the same services, including banking and mortgage financing, savings and loan associations function similarly to banks and credit unions. Savings and loan organizations, however, prioritize savings and mortgages more.
Thus, option B is correct.
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Why is it important to have insurance?
It's important to have insurance so people can
protect themselves from losing a lot of money in
the event of an unpredictable event or something
happens to them or their property.
So individuals can defend against the possibility of
financial loss due to unpredictable event
So people can engage in risky behavior without
financial consequences
A and B
Answers
It's important to have insurance so people can protect themselves from losing a lot of money in the event of an unpredictable event or something that happens to them or their property. So individuals can defend against the possibility of financial loss due to unpredictable events. The correct options are a and b.
What is insurance?Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury.
It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
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in the grossman model, as we age, the rate of depreciation will . in our marginal efficiency of capital curve, we will see that optimal stock of health . this causes the amount of productive time we have available to . in the grossman model, as we age, the rate of depreciation will . in our marginal efficiency of capital curve, we will see that optimal stock of health . this causes the amount of productive time we have available to . decrease; increase; increase decrease; increase; decline increase; decline; increase increase; decline; decline
Answers
The Grossman model is an economic model that studies the relationship between human capital and health. The rate of depreciation will decrease; the rate of optimal stock of health will increase; the amount of productive time will decline. Here option D is the correct answer.
According to the Grossman model, as individuals age, the rate of depreciation of their health increases, meaning that the quality of their health deteriorates more quickly as they get older.
As a result, the marginal efficiency of the capital curve (the relationship between the stock of health and the rate of return on investment in health) will decline.
This leads to a reduction in the amount of productive time individuals have available to them. In other words, as they age and their health deteriorates, they have less time and energy to invest in productive activities, which can negatively impact their overall well-being.
Complete question:
In the Grossman model, as we age, the rate of depreciation will? In our marginal efficiency of the capital curve, we will see that optimal stock of health? This causes the amount of productive time we have available to?
a. decrease; increase; increase
b. increase; decline; decline
c. increase; decline; increase
d. decrease; increase; decline
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6. Effects of a tariff in a small nation Suppose Jordan is open to free trade in the world market for oranges. Because of Jordan's small size, the demand for and supply of do not affect the world pric
Answers
When a small nation like Jordan imposes a tariff on a particular good, such as oranges, it can have several effects.
1. Increase in domestic price: The tariff will raise the price of imported oranges in Jordan. This is because the tariff is essentially a tax on imported goods, making them more expensive for consumers.
2. Decrease in imports: With the higher price of imported oranges, consumers may choose to buy fewer imported oranges or switch to domestic alternatives. This leads to a decrease in the quantity of imported oranges.
3. Increase in domestic production: The higher price of imported oranges may incentivize domestic producers to increase their production to meet the demand. This can lead to an increase in the quantity of domestically produced oranges.
4. Decrease in consumer surplus: Consumer surplus is the difference between what consumers are willing to pay and what they actually pay for a good. With higher prices due to the tariff, consumer surplus decreases as consumers have to pay more for oranges.
5. Increase in government revenue: The tariff collected by the government becomes a source of revenue. This revenue can be used for various purposes, such as funding public projects or reducing the budget deficit.
It's important to note that the effects of a tariff can be complex and depend on various factors, such as the elasticity of demand and supply, the size of the tariff, and the availability of substitutes.
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Help what is the answer?
Answers
excel provides _____ in categories such as financial management and budgets.
Answers
Excel provides Expenses in categories such as financial management and budgets.
Excel is a Microsoft Office application designed to carry out variation functions, including financial analysis.
Microsoft Excel can be used in many ways. When it comes to finances, it can be used for budgeting or costing before a product or project is made, where each expense is categorized under a different heading.
Microsoft Excel can also carry out a valuation of expenses made, with each expense listed under different categories.
Hence, in this case, it is concluded that Microsoft Excel is a vital tool in financial management.
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what is motivation in business
Answers
Answer:
La motivación emprendedora es un factor importante para contribuir con el desarrollo de una sociedad. También es importante el proveer instrumentos para canalizar las acciones de los emprendedores/as potenciales para obtener el exito.
[ Entrepreneurial motivation is an important factor in contributing to the development of a society. It is also important to provide instruments to channel the actions of potential entrepreneurs to achieve success..]
Explanation:
Sorry my English is not very good but I hope you understand and help you with something.
mixed economies can evolve when societies with different kinds of economies interact.1. True2. False
Answers
When several economic systems in a society interact, mixed economies can develop. This statement is true.
Mixed economies can evolve when societies with different kinds of economies interact. A mixed economy is an economic system that includes elements of both a market economy and a command economy.
In a mixed economy, the government plays a role in regulating the economy and providing social welfare programs, while businesses and individuals are free to engage in market transactions.
The evolution of mixed economies can occur when societies with different kinds of economies interact, such as when a capitalist society interacts with a socialist society. Through this interaction, ideas and practices from each system can be adopted and adapted to create a new economic system that combines elements of both.
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