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- Which of the following projects would normally be accounted for in a capital projects fund? O A) The construction of a parking garage operated as an enterprise fund. OB) Payment of interest on bonds issued to finance the construction of a new city hall, OC) The construction of a police station addition. O D) Payment of principal on revenue bonds. Question 2 ( Siler City receives a trust donation for the purpose of maintaining flower beds in city parks, but the donor does not specify that the principal must be maintained. This type of trust would be most appropriately accounted for in a O A) Permanent Fund B) Special Revenue Fund OC) Private Purpose Trust Fund OD) General Fund.Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $630,000, Allowance for Doubtful Accounts has a debit balance of $5,500, and sales for the year total $2,840,000. Bad debt expense is estimated at 3/4 of 1% of sales. a. Determine the amount of the adjusting entry for uncollectible accounts.$fill in the blank 1 b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Adjusted BalanceDebit (Credit) Accounts Receivable $fill in the blank 2 Allowance for Doubtful Accounts $fill in the blank 3 Bad Debt Expense $fill in the blank 4 c. Determine the net realizable value of accounts receivable.$fill in the blank 5Subject:- finance
- I missed this question on my exam. I would like to know how did they arrive at 35%. Please show me how. Thank you!Use the following information to prepare the Juy cash budget for Acco Co. It should show expected cash receipts and cash payments for the month and the cash balance expected on July 31. Question 1 What is net income after taxes? Question 2 What is the amount of total assets? Question 3 What is the amount of retained earnings?Providing for doubtful accounts At the end of the current year, the accounts receivable account has a debit balance of $918,000 and sales for the year total $10,400,000. a. The allowance account before adjustment has a debit balance of $12,400. Bad debt expense is estimated at 1/4 of 1% of sales. b. The allowance account before adjustment has a debit balance of $12,400. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $39,700. c. The allowance account before adjustment has a credit balance of $9,300. Bad debt expense is estimated at 1/2 of 1% of sales. d. The allowance account before adjustment has a credit balance of $9,300. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $77,200. Determine the amount of the adjusting entry to provide for doubtful accounts under each of the assumptions (a through d) listed above. a. b. C. d. $ S
- Kayla took out an amortized loan of $240,000 with a 5% interest rate. Her monthly payment is $1,288.37. How much will she pay in interest on her first monthly payment? $900 $1.200 $1,150 $1.000Your client, Harper Company, has a contractual commitment as apart of a bond indenture to maintain a current ratio of 2.0. If the ratio falls below thatlevel on the balance sheet date, the entire bond becomes payable immediately. In thecurrent year, the client’s financial statements show that the ratio has dropped from 2.6 to2.05 over the past year. How should this situation affect your audit plan?Last year the Digby company increased their equity. In 2023 their equity was $49,468. Last year (2024) it increased to $51,256. What are causes of change in equity? Check all that apply. Select : 3 Profits of $10,496 Depreciation of -$41,287 Issue and retirement of stock . A bond issue of$1,308. Dividend payment of$7,169. Change in inventory of$74. An accounts payable change of$1,437. A change in short term debt of-$4,147. A change of plant and equipment of$9,580. A change in cash of -$4,938. Plant Improvements of $9,580
- Plan for potential investors for 39 Storage https://www.39storage.com/ (This Company) Cover these points below Identify the problem to be solved. Introduce your solution to the problem. Discuss your beginning traction for getting sales. Identify the target market. Explain the costs of acquiring customers in your target market. Communicate the value proposition relative to competitors. Describe the basics of the revenue model. Provide financial projections, along with the assumptions. Sell the team. Identify your funding needs, and explain the use of the funds (the investment price must be stated) Describe possible exit strategies—how the investors may be able to cash out. End on a high note—remind investors why your product/service/team is so great.The company uses the allowance method to account for uncollectible receivables. Allowance for doubtful account had 1.500 TL credit balance and account receivable account had 12.000 TL debit balance at the beginning of year. During the year bad debt expense was recorded for 2.000 TL and wrote off bad receivables for 2.500. a. what is the balance of allowance for doubtful account at the year - end? b. what is the net realizable value of account receivable at the vear - end?4- Cash flow statement of any company shows the net cash inflow and outflow during a period of time. Which of the following activities are considered while making cash flow statement? a. Cash flow from investing activities b. All of the options c. Cash flow from financing activities d. Cash flow from operating activities
