At 1st July 2017 a company's allowance for receivable was $48,000.
At 30 June 2018, trade receivable amounted to $838,000. It was decided to write off $72,000 of these debts and adjust the allowance for receivables to $60,000.
What are the final amount of Receivable net of allowance for inclusion in the company's Statement of Financial position at 30 June 2018?
In: Accounting
Rex became a partner with a 30% interest in the partnership profits when he invested $200,000. In 2018, the partnership generated $400,000 of taxable income, and Rex withdrew $100,000. In 2019, the partnership had $600,000 of taxable income, and Rex withdrew $200,000. What is Rex's gross income from the partnership in 2018 and 2019?
In: Accounting
8. B Company switched from the sum-of-the-years-digits depreciation method to straight-line depreciation in 2018. The change affects machinery purchased at the beginning of 2016 at a cost of $72,000. The machinery has an estimated life of five years and an estimated residual value of $3,600. What is B's 2018 depreciation expense?
In: Accounting
On January 1, 2018, Bramble Corp. sold $5050000 of its 12% bonds for $4470740 to yield 14%. Interest is payable semiannually on January 1 and July 1. What amount should Bramble report as interest expense for the six months ended June 30, 2018? $268250 $303000 $312952 $353500
In: Accounting
A political pollster wants to see if the percentage of the population that is non-white in a state is related to the percentage of the states's votes that Barack Obama received in the 2012 presidential election.
explanatory variable = x =
response variable = y =
Which variable is x and which variable is y?
In: Statistics and Probability
A non-discriminating monopsonist faces the following inverse supply curve:
W = L^(3/2)
The monopsonist’s production function is equal to the following:
Q = 100L^(1/2)
The monopsonist sells its output in a perfectly competitive market for P = 5. How many workers are employed? What is the wage that the workers are paid?
In: Economics
Why is it important for you, a non-accountant, to be able to
interpret and analyze the financial statements that have been
prepared by a company's accountants?
As useful as financial statements are, they have their limitations.
Of course, we should be aware of such limitations whenever we are
analyzing a company's financial statements. What do you see as the
shortcomings/limitations of corporate financial statements?
In: Accounting
How has money has become the focal point of modern world culture and s
society, especially in the Western world
In: Finance
What are some of the benefits of investing in an IRA, a non IRA, or spending the money.
What about a split decision: investing some and using a bit for a cheaper vacation?
How much should be saved?
In: Finance
Prove that the range of a matrix A is equal to the number of singular non-null values of the matrix and Explain how the condition number of a matrix A relates to its singular values.
In: Advanced Math