Answer:
An employee of a company who is being paid to assist in the sale of stock options to the company's employees and receives a bonus based on sales results is referred to as an Agent. This is in accordance with Uniform Securities Act.
Explanation:
The Uniform Securities Act refers to an employee of a company who is paid to assist in the sale of stock option to the company's employees and receives a bonus based on sales results as an agent. Such an employee is required to register with the state.
Answer:
Permanent Life Insurance Policy
Explanation:
Permanent Life Insurance Policy is a flexible insurance policy that allows policy holders to borrow from their insurance policy (policy loan). Furthermore, withdrawal up to the total premium amount paid into the policy is allowed.
Answer:
Explanation below.
Explanation:
The recommendation that I will give or propose is that the agreement must have a legal backing.
This is the best recommendation that a wise person can proposes. It is a show of height of stupidity when an individual go into conjunction with another person without any written agreement that is backed legally. This because, when there is a problem in the future, the documents will be a way to solve it.
The other secondary option is written and signed agreement with video recording. This is not as good as the one mentioned above, but can still be considered as an alternative.
Answer:
Explanation:
The journal entries are shown below:
1. Allowance for Doubtful Accounts A/c Dr $ 13,300
To Accounts receivable A/c $ 13,300
(Being written off amount is recorded)
2. Accounts receivable A/c Dr $3,200
To Allowance for Doubtful Accounts A/c $3,200
(Being reverse written off)
3. Cash A/c Dr $3,200
To Accounts receivable A/c $3,200
(Being amount collected)
4. Bad debt expense A/c Dr $19,300
To Allowance for doubtful debts $19,300
(Being bad debt expense is recorded)
The computation of the bad debt expense is shown below:
Ending balance of Allowance for Uncollectible Accounts = Beginning balance of Allowance for Uncollectible Accounts + 2019 bad debts - 2019 write off amount + collected amount
$27,200 = $18,000 + 2019 bad debts - $13,300 + $3,200
$27,200 = $7,900+ 2019 bad debts
So,2019 bad debts = $27,200 - $7,900 = $19,300
Answer: $1,530
Explanation:
It's net working capital that was financed by investors include the following figures,
Total current Assets.
Accounts Payables and Accrued wages need to be deducted because they came about as a result of operations and are neither of debt or equity financing so are considered free.
So, in calculating we have,
= 2,250 - 575 - 145
= $1,530
Swinnerton Clothing Company's net operating working capital that was financed by investors is $1,530
Answer:
$1,530
Explanation:
This can be calculated as follows:
Details Amount ($)
Total current assets 2,250
Accounts payable (575)
Accrued wages and taxes (145)
Net operating working capital financed by investors 1,530
Therefore, Swinnerton Clothing Company's net operating working capital that was financed by investors is $1,530.
Answer:
dividends 24,900
dividen payable 24,900
to record declaration of dividends
dividend payable 24,900
cash 24,900
to recored payment of dividends
Explanation:
amount of dividends:
8,300 shares x $3 per share = 24,900
dividends 24,900
dividend payable 24,900
to record declaration of dividends
we post the dividends declared and we post the payable
dividend payable 24,900
cash 24,900
to recored payment of dividends
we decrease the cash account and write-off the dividend payable
Answer:
$984,061.12
Explanation:
The computation of sales revenue under the worst-case scenario is shown below:-
Sales revenue under the worst-case scenario = Quantity sold × Price
= (1,600 - 1,600 × 3%) × ($647 - $647 × 2%)
= (1,600 - 48) × ($647 - 12.94)
= 1,552 × 634.06
= $984,061.12
Therefore for computing the sales revenue under the worst-case scenario we simply applied the above formula.