Answer:
Dr. Allowance for Doubtful Accounts...1,200
Cr. Accounts Receivable....................................1,200
Explanation:
When a specific customer's account is identified as uncollectible, the journal entry to write off the account is:
A credit to Accounts Receivable (to remove the amount that will not be collected)
A debit to Allowance for Doubtful Accounts (to reduce the Allowance balance that was previously established)
Therefore the JOURNAL ENTRIES for the $1,200 uncollectible debt will be
Dr. Allowance for Doubtful Accounts...1,200
Cr. Accounts Receivable....................................1,200
To find the margin of safety in dollars, subtract the breakeven sales from the budged or actual sales.
Current sales are 41,800 units
Break even point in units is 33,900
Cost per unit is $170
(33,900)($170) = $5,763,000
(41,800)($170) = $7,106,000
The margin of safety in dollars is:
$7,106,000 - $5,763,000 = $1,343,000
It should generate another major event around 2050-2060
Answer:
It is Control the inventory process (B)
Explanation:
Control the inventory process : Unusual shortage of products on Walmart shelves is an evidence of poor inventory control system.
The deficiencies in the system must be identified and then appropriate corrective control system to address them must be put in place.
A system that prevent stock-out on the shelves must be adopted and its compliance must be enforced.
Answer:
A. Intrinsic value is 0. Time value is 1.35.
B. 1.35
C. -4.65
Explanation:
