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2 years ago

The ability to conduct a business meeting is a critical management skill because:________

1 answer:

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The capacity to execute a business meeting is a crucial management skill because it shares information about the business, offers team progress updates, solicits and provides input, solves problems, makes decisions, and starts maintaining, sometimes, ends relationships.

<h3>What is management skill?</h3>

The action of skills management is to understand, foster, and apply people's abilities. A well-executed skills management strategy should be able to pinpoint the skills that particular job roles need, and the abilities of specific individuals, in addition to any gaps between the two

<h3>Why are management skills important?</h3>

The management's ability to interact with other staff members and effectively deal with subordinates allows the organization's business operations to run smoothly. Any company must have efficient management skills in order to thrive and achieve its objectives and goals.

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A company ages its accounts receivables to determine its end of period adjustment for bad debts. At the end of the current year,

kogti [31]

Answer:

The required adjusting entry to record estimated bad debts expense is as follows:

Debit Bad Debts Accounts with $39,960

Credit Allowance for Doubtful Accounts with $39,960

Being the adjustment to bring the Allowance for Doubtful Accounts up a new credit balance of $43,625.

Explanation:

The Allowance for Doubtful Accounts had a credit balance of $3,665. Since management had estimated that $43,625 of the Accounts Receivable balance would be uncollectible, this means that the difference $39,960 ($43,625 - $3,665) would be the adjusting amount to bring the balance up-to-date.

Remember that the Allowance for Doubtful Accounts is a contra account to the Accounts Receivable. It is used to reduce the balance of the Accounts Receivable based on collectibility judgement or estimate which management makes out of experience. The balance in this account is, therefore d,educted from the Accounts Receivable in the Balance Sheet in order to obtain the net Accounts Receivable balance.

The account that expenses the increase in this account is the Bad Debts Expense Account, which is taken to the Income Statement to reduce the income.

4 0

4 years ago

Kramer Corporation recently announced that its net income (EAT) was lower than last year. However, analysts estimate that the co

SVETLANKA909090 [29]

Answer:

When you are preparing the cash flow statement, some adjustments are made that actually increase the cash flow even if the net income has decreased, for e.g.:

lower accounts receivables
lower inventories
higher depreciation and amortization expenses
higher accounts payables and accruals
sale of investments
new long term debt
less dividends distributed
new capital raised

8 0

3 years ago

Describe user datagram protocal

blsea [12.9K]

Answer:

Datagram Protocol is a communications protocol that is primarily used for establishing low latency and loss tolerating connections between applications on the internet. It speeds up transmissions by enabling the transfer of data before an agreement is provided by the receiving party.

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3 years ago

Which of the following items is not included in either M1 or M2?

Vitek1552 [10]

Answer:

Item that are neither include in M1 nor in M2 is currency held by banks

Explanation:

Central bank of united united states decided the flow of cash through the country. There are two type of money supply i.e. M1 and M2.

The M1 type money supply consist money that are more in liquid state like cash deposits etc while on the other side M2 type of supply consist of money that are less in liquid state. This type of supply consist of M1 money with market funds and deposits certificate etc.

Therefore item that are neither include in M1 nor in M2 is currency held by banks.

4 0

3 years ago

Record the following process costing transactions in the general journal

Ber [7]

Answer:

a.Dr Raw Materials Inventory 9,000

Accounts Payable 9,000

b. Dr Work in Process Inventory-Assembly 4,200

Cr Raw Materials Inventory 4,200

Dr Work in Process Inventory-Finishing2,400

Cr Raw Materials Inventory 2,400

c.Dr Work in Process Inventory-Assembly10,800

Cr Cash10,800

d.Dr Manufacturing Overhead 11,200

Cr Property Taxes Payable-Plant 1,700

Cr Utilities Payable 4,800

Cr Prepaid Insurance-Plant 1,100

Cr Accumulated Depreciation-Plant 3,600

e.Dr Work in Process Inventory-Assembly 6,800

Cr Wages Payable 4,700

Cr Manufacturing Overhead 2,100

f.Work in Process Inventory-Finishing 10,700

Cr Wages Payable 4,400

Cr Manufacturing Overhead 6,300

g.Dr Work in Process Inventory-Finishing 10,300

Cr Work in Process Inventory-Assembly10,300

h.Dr Finished Goods Inventory15,100

Cr Work in Process Inventory-Finishing15,100

Explanation:

To Record process costing transactions in the general journal

a. Based on the information given we were told that the Purchase of raw materials of the amount of $9,000 was made which means that the transaction will be recorded as:

Dr Raw Materials Inventory 9,000

Accounts Payable 9,000

b. Based on the information given we were told that the Requisition of direct materials to Assembly Department was the amount of $4,200 while the Finishing Department amount was $2,400 which means that the transaction will be recorded as:

Dr Work in Process Inventory-Assembly 4,200

Cr Raw Materials Inventory 4,200

Dr Work in Process Inventory-Finishing 2,400

Cr Raw Materials Inventory2,400

c. Based on the information given we were told that payment of direct labor was the amount of $10,800 which means that the Journal entry will be:

Dr Work in Process Inventory-Assembly 10,800

Cr Cash10,800

d. Journal entry to record the incurrence of manufacturing overhead costs

Dr Manufacturing Overhead 11,200

(1,700+4,800+1,100+3,600)

Cr Property Taxes Payable-Plant 1,700

Cr Utilities Payable 4,800

Cr Prepaid Insurance-Plant 1,100

Cr Accumulated Depreciation-Plant 3,600

e. Based on the information given we were told that the conversion costs to the Assembly Department include both Direct labor of the amount of $4,700 and Manufacturing overhead of the amount of $2,100 which means that the Journal entry will be:

Dr Work in Process Inventory-Assembly 6,800

(4,700+2,100)

Cr Wages Payable 4,700

Cr Manufacturing Overhead 2,100

f. Based on the information given we were told that conversion costs to the Finishing Department were: Direct labor, $4,400 Manufacturing overhead, $6,300, which means that the transaction will be recorded as:

Work in Process Inventory-Finishing10,700

(6,300+4,400)

Cr Wages Payable4,400

Cr Manufacturing Overhead6,300

g. Based on the information given we were told that the Cost of goods that was completed and transferred out of the Assembly department to the finished goods depatment was the amount of 10,300 which means that the transaction will be recorded as:

Dr Work in Process Inventory-Finishing 10,300

Cr Work in Process Inventory-Assembly10,300

h. Based on the information given we were told that the Cost of goods that was completed and transferred out of the finished goods depatment to finished goods inventory was the amount of 15,100 which means that the Journal entry will be:

Dr Finished Goods Inventory 15,100

Cr Work in Process Inventory-Finishing15,100

6 0

4 years ago