Answer:
The total estimated uncollectible debt is $6000 as computed below
Explanation:
The total estimated uncollectible debt is computed as follows:
Accounts not yet due $25000*4% $1000
Accounts 1-60 days past due $10000*25% $2500
Accounts more than 60 days $5000*50% <u>$2500</u>
Total estimated uncollectible debt <u> $6000</u>
The necessary journal entry to record this estimate is shown below:
Dr bad debt expense $5000
Cr Allowance for uncollectible debt $5000
Even though $6000 is the estimated uncollectible, the implication is that the closing balance in allowance for uncollebtible debt should be $6000,since there is a credit of $1000 already in the account, the balance required to top it up to $6000 is $5000
Answer:
financing transaction.
Explanation:
A financial statement is a written report that quantitatively describes a firm's financial health. Under the financial statements is a cash-flow statement, which is used to record the cash inflow and cash equivalents leaving a business firm.
Cash flow statement, also known as the statement of cash flows, contains financial information about operating, investing and financing activities.
A transaction can be defined as a business process which typically involves the interchange of goods, financial assets, services and money between a seller and a buyer.
Financing transaction can be defined as an obligation or right of an organization (business firm) to repurchase an asset for an amount greater than or equal to the selling price of the asset.
You would turn it in to the police so they can find out whos money it is or you could try to find him
Answer:
mutual fund
Explanation:
A mutual fund is an investment vehicle that collects money from investors (usually small investors) and invests that money in purchasing and selling securities, e.g. bonds, stocks, etc. They are managed by a fund manager (usually not a person, but a company, in this case Larkan & Tokodo) that decides where to invest the funds. The value of a mutual fund is determined by the price of its shares that basically includes a fraction of the investment pool.
Answer:
market capitalization = current stock price x total stocks outstanding.
Since we are not given neither the total number of shares outstanding or current stock price, we can use another question as an example.
In the other question, the total number of outstanding shares was 3,225,987 and the current stock price is $20.76. So the current market cap = 3,225,987 x $20.76 = $66,971,490
If the stock price increases by 10% (to $22.836), then Chester's market cap = 3,225,987 x $22.836 = $73,668,639 or $73.7 million.
You can follow the example to determine the market cap in your question.
