Drag the tiles to the correct boxes. match each act to its purpose

Larkspur, Inc. had net sales in 2020 of $1,447,100. At December 31, 2020, before adjusting entries, the balances in selected acc

Zielflug [23.3K]

Answer:

The entry to record bad debt expense:

Debit Bad debts expense $24,446

Credit Allowance for Doubtful Accounts $24,446

Explanation:

1. At December 31, 2020,

Bad debt are estimated: 11% x $204,600 = $22,506

Before adjusting, Allowance for Doubtful Accounts had a debit balance of $1,940. So Bad debt expense will be: $1,940 + $22,506 = $24,446

The adjustment to record Bad debt expense and Allowance for Doubtful Accounts:

Debit Bad debts expense $24,446

Credit Allowance for Doubtful Accounts $24,446

6 0

3 years ago

If your purchases of shoes increase from 9 pairs per year to 11 pairs per year when your income increases from $19,000 to $21,00

fiasKO [112]

Answer:

Option (a) is correct.

Explanation:

Here, shoes are normal goods as there is a positive relationship between the income level of the consumer and the quantity demanded for shoes. It can be seen that as the income of the consumer increases from $19,000 to $21,000 then as a result the quantity of pairs of shoes demanded increases from 9 to 11 pairs. Normal goods are generally have positive income elasticity of demand.

Therefore, the shoes are normal goods in this case.

7 0

3 years ago

Supply chain management systems are one type of ________ because they automate the flow of information across company boundaries

AlexFokin [52]

Answer:

inter-organizational system

Explanation:

An inter-organizational system refers to the network amongst organizations, or "sharing communications system between such a number of companies." The most common method of inter-organizational systems is electronic communications exchange, which allows for the immediate desktop-to-computer transmission of information.

The inter-organizational rules allow knowledge exchange to be streamlined between companies in terms of achieving a planned supply-chain management structure that allows profitable businesses to evolve. It facilitates customer needs planning and products and services distribution.

4 0

3 years ago

The table shows human development indicators from 2013. Which best describes the relationship between education and life expecta

VladimirAG [237]

A. More education can help increase life expectancy. :)

4 0

3 years ago

Read 2 more answers

Which of the following is NOT one of the 5 typical sources of competitive pressures? Select one: a. The power and influence of i

allochka39001 [22]

Answer:

a. The power and influence of industry driving forces

Explanation:

As per Michael Porter, there exist five competitive forces that influence competition in an industry. The five forces as per Porter are:

Potential entrants
Industry competitors
Customers
Substitutes
Suppliers

Potential entrants refers to the risk of new entrants in the market.

Industry competitors refers to the extent of rivalry and competition between existing firms.

Customers relate to the negotiating or bargaining power of the customers and to what extent they exercise such power.

Substitutes refer to the emergence of substitute products in the market which may drive down a firm's sales.

Suppliers relate to the bargaining power exercised by suppliers with respect to inputs.

7 0

3 years ago