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Zielflug [23.3K]
3 years ago
8

Explain Labour turnover

Business
1 answer:
koban [17]3 years ago
7 0

Answer:

Labor turnover, also known as staffing turnover, refers to the ratio of a number of employees who leave a company through attrition, dismissal or resignation to the total number of employees on the payroll in that period. It's used for measuring employee retention.

Explanation:

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The December 31, 2020, Allowance account balance includes $3,076 for a past due account that is not likely to be collected. This
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There will be no effect on working capital upon write off as the entries required would be a credit to receivables and a debit to allowance account.

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When a company has determined that a receivable may be uncollectible, the company credits the allowance for receivables account and debits bad debit expense. This reduces the accounts receivable balance in the balance sheet as the receivables to be reported will be net the allowance given. As such, where on December 31, 2020, Allowance account balance includes $3,076 for a past due account that is not likely to be collected.

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