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Jordan O.
Certified Public Accountant
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Microsoft Excel
TutorMe
Question:

What function allows you to quickly find information with identical identifiers in vertical columns?

Jordan O.
Answer:

The vlookup function.

Personal Finance
TutorMe
Question:

What is the difference between a traditional IRA and a Roth IRA, and why would one ever choose a Roth IRA?

Jordan O.
Answer:

A traditional IRA is taxed when funds are disbursed in retirement, while the taxes on a Roth IRA are paid before they are put into the retirement fund. A Roth would be chosen if one believed that they have a lower current tax rate than what they estimate their tax rate to be in retirement.

Accounting
TutorMe
Question:

On a company's balance sheet, accounts receivable should be presented net of the allowance for doubtful accounts. What type of accounts are accounts receivable and the allowance for doubtful accounts, and what are the normal balances of each account, respectively.

Jordan O.
Answer:

Accounts receivable (AR) is an asset, while the allowance for doubtful accounts is a contra-asset account. AR will have a normal debit balance, while the allowance for doubtful accounts will have a credit balance.

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