QUESTION 4 (a) Osi & Co is a firm selling children books in the neighborhood. On January 1, 2014, the
provision for discount allowed account had a balance of N500.00. During the year, the total
discount allowed amounted to N390.00. On December 31, the balance of the debtors account
stood at 15,000.00 and on the date, a provision for discount allowed was decided to be created at
2%.
As the accountant recently employed in Osi & Co., write up from the above:
i) Provision for discount allowed account
ii) Discount allowed account
iii) Profit and Loss Account (extract)
iv) Balance sheet (extract)
(15 marks)
(b) Distinguish between discount allowed and discount received.
(5 marks)

Afinancial institution, the thriftem bank, is in the process of formulating its loan policy for the next quarter. a total of $12 million is allocated for that purpose. being a full-service facility, the bank is obligated to grant loans to different clientele. the following table provides the types of loans, the interest rate charged by the bank, and the possibility of bad debt as estimated from past experience.type of loaninterest rateprobability of bad debtpersonal.140.10car.130.07home.120.03farm.125.05commercial.100.02 bad debts are assumed unrecoverable and hence produce no interest revenue either. competition with other financial institutions in the area requires that the bank allocate at least 40% of the total funds to farm and commercial loans. to assist the housing industry in the region, home loans must equal at least 50% of the personal, car, and home loans. the bank also has a stated policy specifying that the overall ratio for bad debts on all loans may not exceed .04. formulate this problem as a linear program. define your variables clearly and write all the constraints explaining the significance of each.

In which of the following games is it clearly the case that the cooperative outcome of the game is good for the two players and bad for society? a. two oil companies own adjacent oil fields over a common pool of oil, and each company decides whether to drill one well or two wells.b. two airlines dominate air travel between city a and city b, and each airline decides whether to charge a "high" airfare or a "low" airfare on flights between those two cities.c. two superpowers decide whether to build new weapons or to disarm.d. in all of the above cases, the cooperative outcome of the game is good for the two players and bad for society

What resourse is both renewable and inexpensive? gold coal lumber mineral