On December 31, 2003, Rudd Company purchased 80 percent of the common stock of Wilton Company. At the time, Rudd held land with a book value of $100,000 and a fair value of $260,000; Wilton held land with a book value of $50,000 and fair value of $600,000. At what amount would land be reported in a consolidated balance sheet prepared immediately after the combination?

a. $540,000.

b. $590,000.

c. $700,000.

d. $860,000.

Answers

Answer 1

Answer:

land will be reported in a consolidated balance sheet at c. $700,000.

Explanation:

The Assets and Liabilities of Wilton Company are acquired at their Fair Value amounts instead of Book Values. Thus, the value of the land will be : $700,00 ($100,000 + $600,000).


Related Questions

The stock ABC has a beta of 1.6 and its standard deviation is 30%. Its correlation coefficient with the market return is 0.8. What is the standard deviation of the market return? A. None of the answers is correct B. 18% C. 20% D. 15%

Answers

Answer: D. 15%

Explanation:

Beta is given as 1.6 but is calculable by the formula;

Beta = Correlation Coefficient of stock with market returns * [tex]\frac{Standard Deviation of stock returns}{Standard Deviation of market returns}[/tex]

1.6 = 0.8 * 30%/Sdm

30% /Sdm = 1.6/0.8

30% / Sdm = 2

Sdm * 2 =30%

Sdm = 30%/2

Sdm = 15%

A company had the following purchases during its first year of operations: Purchases January: 18 units at $128 February: 28 units at $138 May: 23 units at $148 September: 20 units at $158 November: 18 units at $168 On December 31, there were 58 units remaining in ending inventory. These 58 units consisted of 10 from January, 12 from February, 14 from May, 12 from September, and 10 from November. Using the specific identification method, what is the cost of the ending inventory?

Answers

Answer:

$8,584

Explanation:

Cost of ending inventory can be calculated by multiplying the remaining units of the given month by their purchase cost in the following month

DATA

Total remaining units n ending inventory = 58 units

10 from January at $128

12 from February at $138

14 from May at $148

12 from September at $158

10 from November at $168

Calculation

January  =  10 x $128       = $1,280

February = 12 x $138        = $1,656

May = 14 x $148                = $2,072

September = 12 x $158     = $1,896

November = 10 x $168      = $1,680

Cost of ending inventory = $8,584

Your bank pays 4% interest annually. You have $2,500 invested in the bank. How long will it take for your funds to double

Answers

Answer:

17.69 years

Explanation:

The formula to calculate the number of periods of time is:

n=ln(FV/PV)/ln(1+r)

n= number of periods of time

FV= future value=$2,500*2=$5,000

PV= present value=$2,500

r=interest rate=0.04

Now, you can replace the values in the formula:

n=ln(5,000/2,500)/ln(1+0.04)

n=ln2/ln1.04

n=0.69/0.039

n=17.69

According to this, the answer is that it will take 17.69 years for your funds to double.

Reports that trace the entry of and changes to critical data values are called ____ and are essential in every system.

Answers

Answer:

audit trails

Explanation:

Reports that trace the entry of and changes to critical data values are called audit trails and are essential in every system.

The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020.
Raw Materials Inventory 7/1/19 $48,100
Factory Insurance $4,700
Raw Materials Inventory 6/30/20 39,700
Factory Machinery Depreciation 16,100
Finished Goods Inventory 7/1/19 96,100
Factory Utilities 28,700
Finished Goods Inventory 6/30/20 19,900
Office Utilities Expense 8,550
Work in Process Inventory 7/1/19 19,900
Sales Revenue 555,000
Work in Process Inventory 6/30/20 19,900
Sales Discounts 4,300
Direct Labor 139,350
Plant Manager’s Salary 61,100
Indirect Labor 24,560
Factory Property Taxes 9,610
Accounts Receivable 27,100
Factory Repairs 1,500
Raw Materials Purchases 96,500
Cash 32,100
Required:
Prepare an income statement through gross profit.

Answers

Answer:

Clarkson Company

Income statement for the year ended June 30, 2020

Sales Revenue                                                               $555,000

Less Costs of Goods Sold :

Opening Finished Goods Inventory            $96,100

Add Cost of Goods Manufactured            $390,520

Less Closing Finished Goods Inventory    ($19,900)  ($466,720)

Gross Profit                                                                       $83,280

Explanation:

First prepare a Schedule of Manufacturing Costs to determine the Cost of Goods Manufactured.

Schedule of Manufacturing Costs

Factory Insurance                                                      $4,700

Raw Materials ($48,100 + $96,500 - $39,700)    $104,900

Factory Machinery Depreciation                              $16,100

Factory Utilities                                                        $28,700

Direct Labor                                                            $139,350

Plant Manager’s Salary                                             $61,100

Indirect Labor                                                          $24,560

Factory Property Taxes                                             $9,610

Factory Repairs                                                          $1,500

Add Opening Work In Process Inventory              $19,900

Less Closing Work In Process Inventory              ($19,900)

Cost of Goods Manufactured                              $390,520

Net income (in millions) $150 Shares outstanding (in millions) 300 Stock price $30.00 What is the price-earnings ratio (to the nearest whole number)?

Answers

Answer:

60

Explanation:

price-earnings ratio = price / earnings per share

earnings per share = net income / shares outstanding = $150 / 300 = $0.50

$30 / $0.50 = 60

Ford Motor Company is discussing new ways to recapitalize the firm and raise additional capital. Its current capital structure has a ​% weight in​ equity, ​% in preferred​ stock, and ​% in debt. The cost of equity capital is ​%, the cost of preferred stock is ​%, and the pretax cost of debt is ​%. What is the weighted average cost of capital for Ford if its marginal tax rate is ​%?

Answers

Complete Question:

Ford Motor Company is discussing new ways to recapitalize the firm and raise additional capital. Its current capital structure has a 10% weight in equity, 25% in preferred stock, and 65% in debt. The cost of equity capital is 17%, the cost of preferred stock is 11%, and the pretax cost of debt is 9%. What is the weighted average cost of capital for Ford if its marginal tax rate is 40%?

Answer:

7.96%

Explanation:

We can calculate WACC using the formula:

WACC = Cost of equity * Equity %age / 100%         +          

After Tax Cost of Debt * Debt %age / 100%            +        

Cost of Preferred Stock * Preferred Stock %age / 100%

Here,

Cost of equity is 17%

Cost of preferred stock is 11%

Post tax cost of debt = Pre-Tax cost *  (1 - Tax rate)

This implies,

Post tax cost of debt = 9% * (1 - 40%) =  5.4%

Equity weight is 10% weight in equity

Preferred stock weight is 25%

Debt Weight is 65%

By putting value in the formula given in the attachment, we have:

WACC = 17% * (10% / 100%)      +     11% * (25% / 100%)    +    5.4% * (65% / 100%)

WACC = 1.7%   +   2.75%   +    3.51%

WACC = 7.96%

Income statement data for Boone Company for two recent years ended December 31, are as follows:

Current Year Previous Year
Sales $396,000 $330,000
Cost of goods sold 330,400 280,000
Gross profit $65,600 $50,000
Selling expenses $17,600 $16,000
Administrative expenses 16,520 14,000
Total operating expenses $34,120 $30,000
Income before income tax $31,480 $20,000
Income tax expenses 12,600 8,000
Net income $18,880 $12,000
a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. If required, round to one decimal place.

Boone Company
Comparative Income Statement
For the Years Ended December 31
Current year Amount Previous year Amount Increase (Decrease) Amount Increase (Decrease) Percent
Sales $396,000 $330,000 $ %
Cost of goods sold 330,400 280,000 %
Gross profit $65,600 $50,000 $ %
Selling expenses 17,600 16,000 %
Administrative expenses 16,520 14,000 %
Total operating expenses $34,120 $30,000 $ %
Income before income tax $31,480 $20,000 $ %
Income tax expense 12,600 8,000 %
Net income $18,880 $12,000 $ %
b. The net income for Boone Company increased by 57.3% between years. This increase was the combined result of an in sales of 20% and percentage in cost of goods sold. The cost of goods sold increased at a rate than the increase in sales, thus causing the percentage increase in gross profit to be than the percentage increase in sales.

Answers

Answer:

a.                                       Boone Company

             Statement showing comparative income statement

Particulars  Current (A)    Previous(B)    CHANGE     PERCENT

                            Year                 Year             (C=A-B)      (C/B*100)

Sales                 $396,000      $330,000         $66,000       20%

Cost of goods  $330,400       $280,000        $50,400         18%

sold

Gross profit       $65,600         $50,000          $15,600         31.2%

Selling                $17,600          $16,000            $1,600            10%

expenses

Administrative    $16,520         $14,000           $2,520            18%

expenses  

Total operating   $34,120         $30,000            $4,120            13.73%

expenses

Income before    $31,480          $20,000          $11,480           57.4%

income tax  

Income tax          $12,600          $8,000            $4,600            57.5%

expenses  

Net income         $18,880          $12,000            $6,880            57.3%

b.  The cost of goods sold increased at a rate LOWER than the increase in sales, thus causing the percentage increase in gross profit to be GREATER than the percentage increase in sales.

balance sheet reports assets of $6900000 and liabilities of $2700000. All of Ivanhoe’s assets’ book values approximate their fair value, except for land, which has a fair value that is $410000 greater than its book value. On 12/31/21, Oriole Corporation paid $7030000 to acquire Ivanhoe. What amount of goodwill should Oriole record as a result of this purchase?

Answers

Answer: $2,420,000‬

Explanation:

Goodwill is the amount over the fair value of a company that it is purchased for.

Goodwill = Acquisition price - Net Assets

Net Assets = Assets - Liabilities

= (6,900,000 + 410,000) - 2,700,000

= $4,610,000‬

Goodwill = 7,030,000 - 4,610,000

= $2,420,000‬

who are the customers for textbooks? What do these customers want in terms of goods and services related to textbooks? From the publishers point of view, who are the key customer?

Answers

Answer:

the customers for textbooks are students and schools

You have been given the following return information for a mutual fund, the market index, and the risk-free rate. You also know that the return correlation between the fund and the market is 0.97.

Year Fund Market Risk-Free
2008 -15.2% -24.5% 1%
2009 25.1 19.5 3
2010 12.4 9.4 2
2011 6.2 7.6 4
2012 -1.2 -2.2 2

What are the Sharpe and Treynor ratios for the fund?

Answers

Answer:

Sharpe ratio = 0.20

Treynor ratio = –0.005

Explanation:

Note: See the attached excel file for the calculations of average rate of returns, standard deviations and beta used in the calculation below.

a. Calculation of Sharpe ratio

Sharpe ratio refers to a  investment measurement that employed to measure the an investment actual that has been adjusted for the risk associated with the investment.

Sharpe ratio can be calculated using the following formula:

Sharpe ratio = (Average fund rate - Average Risk Free rate) / Standard deviation of fund rate = (5.46% - 2.40%) / 15.05% = 0.20

a. Calculation of Treynor ratio

Treynor ratio refers to investment measurement that is calculated to show the risk of certain investments after the volatility of the market has been taking into consideration.

Treynor ratio can be calculated using the following formula:

Treynor ratio = (Average market return rate - Average Risk Free rate) / Beta = (1.96% - 2.40%) / 87.53% = –0.005

The income statements for Federer Sports Apparel for 2022 and 2021 are presented below.
FEDERER SPORTS APPAR
Income Statement
For the Years Ended December 31
Year Increase Decrease
2019 2018 Amount %
Net sales 18,800,000 15,500,000
Cost of goods 13,200,000 7,000,000
Gross prof 5,600,000 8,500,000
Operating expenses 1,600,000 1,200,000
Depreciation expense 1,000,000 1,000,000
Inventory write-down 200,000 0
Loss (litigation) 1,500,000 300,000
Required:
Prepare a horizontal analysis for 2022 using 2021 as the base year.

Answers

Answer and Explanation:

The Preparation of horizontal analysis for 2022 using 2021 as the base year is prepared with the help of a spreadsheet.

Horizontal analysis is a method for the analysis of financial statements that indicates fluctuations in the amount of the related products over a period of time. It is a valuable instrument for determining trend situations.

So, with the help of the spreadsheet, we will be able to find the net income by using the formulas.

The horizontal analysis of the Income Statement is the analytical form of preparing the income statement to determine the accurate amount and percentage of changes in each item of the income statement.

The horizontal income statement is attached below.

The horizontal analysis determines the change in the amounts of each account. The percentage change is the division of a change in amount by the base amount of the base year.

In this case, the base year was 2021.

Therefore, the change in amounts will be determined based upon the figures of the base year.

To know more about horizontal analysis, refer to the link:

https://brainly.com/question/14698328

The following data pertain to operations concerning the product for the last month: Actual hours worked 8,100 hours Actual total labor cost $119,880 Actual output 800 units What is the labor rate variance for the month?

Answers

Answer:

Instructions are below.

Explanation:

Giving the following information:

We weren't provided with enough information to solve the requirement. But, I will provide an example and the formula to guide an answer.

For example:

Standard rate per hour= $15

Actual hours worked 8,100 hours

Actual total labor cost $119,880

To calculate the direct labor rate variance, we need to use the following formula:

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Actual rate= 119,880/8,100= $14.8

Direct labor rate variance= (15 - 14.8)*8,100

Direct labor rate variance= $1,620 favorable

Businesses should test data storage procedures periodically to ensure that backed up data is correct and complete, and that the storage media or cloud-based storage service works properly.
A) True
B) False

Answers

Answer:

True

Explanation:

Data security is very important for a business. The business generates, Collects and processes the available data, which incur huge expenses. To protect this data management should place some internal control within the organization. Backing up the data is also a control to protect the  organization's data.

The test of storage procedure should be in place in order to strength of internal control. So, it is true to test data storage procedures periodically to ensure that backed up data is correct and complete, and that the storage media or cloud-based storage service works properly.

Which of the costs below would be included in the recorded cost of merchandise inventory? (Check all that apply.) Storage costs Invoice cost Wages costs Insurance costs Selling costs

Answers

Answer: Storage costs; Invoice costs; Insurance costs.

Explanation:

The costs that would be included in the recorded cost of merchandise inventory are the storage costs, the invoice cost and the insurance costs.

It should be noted that merchandise inventory has to do with the goods that have been gotten from suppliers by a distributor in order to sell them to third parties.

What economic benefit has the debt reschedule for developing countries?

Answers

Answer:

The main economic benefit that debt rescheduling has for developing countries is that it changes principal and interest payments to more favorable conditions.

This means that after the reschedule, developing countries will have to put less resources into the payments of public debt, which allows them to have more resources available for other public investments like education, healthcare, and infraestructure.

A company plans to invest X at the beginning of each month in a zero-coupon bond in order to accumulate 100,000 at the end of six months. The price of each bond as a percentage of redemption value is given in the following chart:1 2 3 4 5 6 ; 99% 98% 97% 96% 95% 94%; Calculate X given that the bond prices will not change during the six-month period.

Answers

Answer:

x = $16,078.46

Explanation:

$100,000 = 1.0101x + 1.0204x + 1.0309x + 1.0417x + 1.0526x + 1.0638x

$100,000 = 6.2195x

x = $100,000 / 6.2195 = $16,078.46

month               investment              value at end of month 6

1                         $16,078.46                    $17,104.74

2                        $16,078.46                    $16,924.68

3                        $16,078.46                    $16,748.39

4                        $16,078.46                    $16,575.73

5                        $16,078.46                    $16,406.59

6                        $16,078.46                    $16,240.87

total                  $96,470.76                     $100,001*

*the extra $1 is due to rounding errors.

A company developed the following per-unit standards for its product: 2 gallons of direct materials at $8 per gallon. Last month, 2200 gallons of direct materials were purchased for $16720. The direct materials price variance for last month was

Answers

Answer:

$880 favorable

Explanation:

The computation of direct materials price variance for last month is shown below:-

Direct material price variance = Actual quantity × (Standard price - Actual price)

= 2,200 × ($8 - ($16,720 ÷ 2,200)

= 2,200 × ($8 - 7.6)

= 2,200 × $0.4

= $880 Favorable

Therefore for computing the direct materials price variance for last month we simply applied the above formula.

The following data were reported by a corporation: Authorized shares 37,000 Issued shares 32,000 Treasury shares 12,000 The number of outstanding shares is: Multiple Choice 37,000. 32,000. 25,000.

Answers

Answer:

20,000

Explanation:

Outstanding shares =  Issued shares - Treasury shares

32,000 - 12,000 = 20,000

Shares is a method through which firms raise capital.

Authorised shares are the maximum number of shares a company can issue to investors

Outstanding shares are the total number of shares sold to investors

Treasury shares are shares that have been issued and later repurchased by the company

Issued shares are the shares that a company issues

Akram owns a small farm. He employs 80 workers in the field and has recently hired a manager to help him manage the farm. The income of the business varies greatly during the year. The farm makes a small profit but Akram is ambitious. He wants to take over a neighbour’s farm and increase the range of crops he sells. He thinks that he needs long-term finance and plans to take out bank loan to pay for the takeover. He has already borrowed money to buy a new tractor. A friend has advised him to form a company and sell shares

Answers

Question Completion:

Requirement. Identity two types of short-term finance Akram could use when the farm income is low

Answer:

Akram's Farm

Akram's farm can make good use of the following short-term financing sources:

1. Akram's farm can use Accounts Payable to provide short-term trade finance when the farm buys farm inputs, equipment, and other supplies on credit.  The farm's Accounts Payable can provide interest-free trade loans by allowing the farm to take longer time to settle the suppliers.  But, the farm should not miss out on cash discounts - an important source of trade finance.

2. Akram's farm can generate finances by ensuring early collections of the  Accounts Receivable.  Akram's farm can also go ahead and borrow on the accounts receivable through short-term bank loans guaranteed on the accounts.  The farm can also factor the accounts receivable by selling them to factoring and finance houses for less.

Explanation:

Akram's farm is still a small farm that is not yet formed as a company.  The immediate concentration is growing the entity and starting the processes for changing its corporate status so that it can take advantage of the sources of finance available to companies.

A company releases a? five-year bond with a face value of? $1000 and coupons paid semiannually. If market interest rates imply a YTM of 8%, which of the following coupon rates will cause the bond to be issued at a? premium?

A. 6%

B.10%

C. 8%

D. 5%

Answers

Answer: B.10%

Explanation:

For a bond to be issued at a premium, the Coupon rate needs to be higher than the current Market Yield to Maturity as this will cause the price of the bond to be higher than Par signifying that the bond is an attractive one.

If the Coupon rate is equal to the YTM then the bond will trade at Par.

If the Coupon rate is less than the YTM then the bond will trade at a discount.

Only 10% of the coupon rate will allow the bond by issued at a premium.

The coupon rate of a a bond refers to the amount of interest income earned each year based on the face value.

The yield to maturity of a band refers to the total estimated return if the bond is held until maturity.

When coupon rate is equal to YTM at issue, then, bond is issued at par value.

When coupon rate is lower than YTM at issue, then, bond is issued at a discount.

When coupon rate is higher than YTM at issue, then, bond is issued at a premium.

Therefore, the Option B is correct because only 10% of the coupon rate will allow the bond by issued at a premium

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Time Warner shares have a market capitalization of billion. The company is expected to pay a dividend of per share and each share trades for . The growth rate in dividends is expected to be ​% per year. ​ Also, Time Warner has billion of debt that trades with a yield to maturity of ​%. If the​ firm's tax rate is ​%, compute the​ WACC?

Answers

Complete Question:

Time Warner shares have a market capitalization of $50 billion. The company is expected to pay a dividend of $0.30 per share and each share trades for $30. The growth rate in dividends is expected to be 7% per year. Also, Time Warner has $15 billion of debt that trades with a yield to maturity of 8%. If the firm's tax rate is 30%, what is the WACC?

Answer:

7.5%

Explanation:

We can calculate WACC using the following formula:

WACC = Ke * MV of Equity / (MV of Equity  + MV of Debt)    +   Kd * MV of Debt / (MV of Equity  + MV of Debt)

Here:

Market Value of Equity is $50 billion

Market Value of Debt is $15 billion

Ke is % (Step 1)

Kd is 8%

By putting values, we have:

WACC =  8.07% * $50 Billion / ($50 Billion + $15 Billion)     +  8% * $50 Billion / ($50 Billion + $15 Billion)

WACC = 7.5%

Step 1: Calculate Ke

We can calculate Ke using the following formula:

Ke = Do * (1 + g) / P               + g

Here

Do is the dividend per share which is $0.3

g is the growth rate which is 7%

And

P is the market value of share which is $30 per share.

Ke = $30 * (1 + 7%) / $30     +  7%   =  8.07%

Burnett Corp. pays a constant $8.15 dividend on its stock. The company will maintain this dividend for the next 12 years and will then cease paying dividends forever. If the required return on this stock is 11 percent, what is the current share price

Answers

Answer:

$52.91

Explanation:

With regards to the above, we will apply the dividend discount model to come up with the price for share.

Under the dividend discount model, the price for share represents the present value of all its future dividend discounted at the required rate of return.

Since the share has 12 annual equal dividend payments of 8.15 each year, while the required rate is 11%, we can apply the below annuity to arrive at the share price.

(8.15/0.11) × [ 1- 1.11^(-12) ] = $52.91

Therefore, the current share price is $52.91

Suppose the price level and value of the U.S. Dollar in year 1 are 1 and $1, respectively. Instructions: Round your answers to 2 decimal places. a. If the price level rises to 1.35 in year 2, what is the new value of the dollar?

Answers

Answer:

0.74

Explanation:

Data provided  in the question

Price level = 1.35

According to the given situation, the computation of the new value of the dollar is shown below:-

The New value of the dollar = 1 ÷ Price level

= 1 ÷ 1.35

= 0.74074

or

= 0.74

Therefore for computing the new value of the dollar we simply applied the above formula.

An invoice of $600 for merchandise purchased is showing 3​/15, ​n/30 as terms of credit. If the invoice is paid on or before the fifteenth day after the invoice​ date, the amount to be paid is​ ________.

Answers

Answer:

Amount Payable or paid = $582

Explanation:

The terms of purchase state that the buyer will be entitled to a 3% cash discount if the payment for the purchases is made within 15 days of the purchase or invoice date.

Thus, if the payment is made on or within the fifteen days of invoice date, the cash discount that will be received is,

Discount = 600 * 0.03 = $18

So, the amount that will be payable for the merchandise will be,

Amount Payable or paid = 600 - 18  = $582

Japanese tourists come to experience the magic of Disney World and other attractions around Orlando, Florida. These tourists are:___________
[A] contributing to the United States’ deficit balance of payments.
[B] helping increase the balance of payments for Japan.
[C] exporting products and services back to Japan.
[D] further decreasing the United States’ balance of payments.
[E] helping the United States’ balance of payments.

Answers

Answer:

Option E, helping the United States’ balance of payments, is the right answer.

Explanation:

Option “E” is the correct answer because the balance of payment records all the transactions that occurred between the home country and the rest of the word. Therefore, if the foreign tourist spends in the country that means they are helping the balance of payment. This will increase the country’s surplus and the ability to pay the expenses because tourism is helping to generate revenue.

Venture Capital Corporation loans Wally $15,000 to start a new business.Wally does not pay,but Venture fails to sue within the time prescribed by the applicable statute of limitations.Wally's promise to pay the debt even though recovery is barred:_________
A) needs new consideration.
B) needs no consideration.
C) is unenforceable regardless of any consideration.
D) needs legally sufficient and adequate consideration.

Answers

Answer:

B) needs no consideration.

Explanation:

In this scenario, Wally's promise to pay the debt even though recovery is barred needs no consideration. This is mainly due to the fact that the Corporation failed to sue within the statute of limitation that was set. Meaning they can no longer sue Wally in order to recover the loan that was given to him. If they were to try and sue Wally now the lawsuit would just be dismissed with no consideration given.

If the marginal propensity to consume equals ​, the tax rate equals ​, and the marginal propensity to import equals ​, what is the value of the government purchases​ multiplier?

Answers

Answer: 1.90

Explanation:

The Government Purchases Multiplier given the variables is given by the expression;

Government Purchases Multiplier = [tex]\frac{1}{1 -(MPC ( 1 -T) - MPI)}[/tex]

Where MPC is the Marginal Propensity to Consume,

T is tax rate and,

MPI is the Marginal Propensity to Import

Government Purchases Multiplier = [tex]\frac{1}{1 -(MPC ( 1 -T) - MPI)}[/tex]

= [tex]\frac{1}{1 -(0.9 ( 1 -0.25) - 0.2)}[/tex]

= [tex]\frac{1}{ 1 - 0.475}[/tex]

= 1.90

Midhun uses internet to deposit 1 poin
and withdraw money from his
bank. Name this type of
banking.
e-commerce
O e-banking
O e-payment
O e-lending​

Answers

Answer:

e banking

Explanation:

it is called  e banking ( electronic), because Midhun is using both deposit and withdraw money through internet

During the year, Bramble Corp. made an entry to write off a $31400 uncollectible account. Before this entry was made, the balance in accounts receivable was $413000 and the balance in the allowance account was $34500. The accounts receivable amount expected to be collected after the write-off entry was

Answers

Answer:

The accounts receivable amount expected to be collected after the write-off entry is $378,500

Explanation:

Allowance for bad debt = $34,500

Bad debt written off = $31,400

Credit balance in allowance for bad debts = Allowance for bad debt - Bad debt written off

= $34,500 - $31,400

= $3,100

The balance in receivables account = ($413,000 - $31,400) - ($34,500 - $31,400)

= $381,600 - $3,100

= $378,500

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