Nancy Billows bought a $7,000 desk at Furniture. Based on her income, Nancy could only afford to pay back $700 per month. The charge on the unpaid balance is 3%. The U. S. Rule is used in the calculation. Calculate the balance outstanding at the end of month 2. (Round your answer to the nearest cent.)
Answers: 1
Business, 21.06.2019 15:10, marialuis2732
Gideon company uses the allowance method of accounting for uncollectible accounts. on may 3, the gideon company wrote off the $2,200 uncollectible account of its customer, a. hopkins. on july 10, gideon received a check for the full amount of $2,200 from hopkins. the entry or entries gideon makes to record the write off of the account on may 3 is:
Answers: 3
Business, 22.06.2019 03:00, jayzeptor
For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c. prepaidrent. onseptember1ofthecurrentyear, thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.
Answers: 3
Business, 22.06.2019 15:30, barstr9146
Brenda wants a new car that will be dependable transportation and look good. she wants to satisfy both functional and psychological needs. true or false
Answers: 1
Business, 22.06.2019 16:10, olly09
The following are line items from the horizontal analysis of an income statement:increase/ (decrease) increase/ (decrease) 2017 2016 amount percent fees earned $120,000 $100,000 $20,000 20% wages expense 50,000 40,000 10,000 25 supplies expense 2,000 1,700 300 15 which of the items is stated incorrectly? a. fees earned b. supplies expense c. none of these choices are correct. d. wages expense
Answers: 3
Nancy Billows bought a $7,000 desk at Furniture. Based on her income, Nancy could only afford to pay...
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