Answer:
Bad debt expense (Dr.) $68,930
Allowance for Doubtful Debt (Cr.) $68,930
Explanation:
Accounts Receivable :
Balance $948,000
Add: Sales $3,609,930
Less: Sales returns $51,000
Less: Collections $2,756,000
Less: Write offs $97,000
Add: Recovery of old Bad debts $28,000
Adjusted Balance $1,653,930
Bad Debts :
Balance $78,000
Less: Allowance for doubtful debts $97,000
Less: Recovery $28,000
Adjusted Balance $9,000
Answer:
4,000 m
Explanation:
4,000 million Peruvian sol
Barter means exchange since there was no currency back then so the answer would be D.
Quick ratio = 1.30 (Option C)
<u>Explanation:</u>
Quick ratio or acid test ratio is calculated as follows:
(Cash plus marketable securities plus accounts receivable ) divide by total current liabilities
In our question, we have been given with the data:
Cash = 45 million
Marketable securities = 33 million, accounts receivable = 66 million, total current laibailities = 111 million
So, let us now put the given values in the above stated formula:
Quick ratio = ( 45 plus 33 plus 66) divide by 111
After calculating we get, 1.30
Therefore, the quick ratio is 1.30
Answer:
Growth Rate = 5.73%
Explanation:
The present value of stock formula can be used here to solve this problem.
The formula is:
Where
is the current stock price
is the dividend to be paid next year
r is the rate of return required
g is the growth rate expected
Now, the first 3 variables are given, we need to find g. Substituting, we find our answer:
In percentage, it is
<u>Growth Rate = 5.73%</u>