Answer:
Bad debt expense for 2022 would be $3,850
Explanation:
Bad debt expenses are expenses incurred by a company as a result of debt owed to it by it's debtors.It therefore means that debtors are not able to pay back the money owed to the company.
Bad debt expense for Coolwear Inc would be =
Allowance for uncollectible accounts - (Uncollectible accounts balance - Accounts receivable written off)
= $5,000 - ( $1,800 - $650)
= $5000 - $1,150
= $3,850
Answer:
The correct option is d)
bank failures reduce the money supply, increase the interest rate and cause high inflation .
The correct option for the second question is a)
caused partly by the increase in government spending including spending to bail out failed financial institutions and by the deep decline in tax revenues as incomes and profits fell.
Explanation:
The recessions accompanied by a financial crisis are more severe than recessions that do not involve bank crises because ;
bank failures reduce the money supply, increase the interest rate and cause high inflation.
The large budget deficits of $1.4 trillion in fiscal year 2009 and $1.3 trillion in fiscal year 2010 were
;
caused partly by the increase in government spending including spending to bail out failed financial institutions and by the deep decline in tax revenues as incomes and profits fell.
Answer:
c. $161,400
Explanation:
The computation of the cash collections for December month is shown below:
Cash sales
= $160,000 × 30%
= $48,000
Credit sales
For same month = $160,000 × 50% × 70% = $56,000
For one month = $180,000 × 30% × 70% = $37,800
For second month = $140,000 × 20% × 70% = $19,600
So, the total cash collections is
= $48,000 + $56,000 + $37,800 + $19,600
= $161,400
The correct answer is C. It is money paid by a consumer to share the cost of a payout.
Copayment is termed as the amount which is fixed which covers a service or being paid by a patient to the provider before the service is being received.
Mostly copayment occurs in insurance companies whereby the insured pays some amount of money before accessing to medical service.
In order to prevent moral hazard bu insurance company they use copayment so as to share the costs of health care.
Answer: The Non Compete is NOT Enforceable.
Explanation:
An Agreement not to compete with your previous company is a RESTRICTIVE covenant that was generally introduced to ensure that Upper and Middle Management who were generally privy to Trade Secrets in an Organization do not take that information somewhere else and use it against that old company usually in exchange for better compensation packages.
Hernandez joined Access Organics and regrettably was not given a pay increase or any other special considerations. This is very relevant.
For a Non-compete to hold relevance especially if it is signed AFTER an employee has already being working in an organization, there needs to be SUFFICIENT Considerations that gave the employee better terms such as more job security or better benefits as a result of signing said agreement.
Andy Hernandez received no such benefits in return for signing the agreement and so the Non-compete Agreement lacks said Sufficient Considerations.
The Non-compete is therefore NOT ENFORCEABLE.
It is worthy of note that in the actual case, the Judge ruled in favor of of Andy Hernandez.
If you require further clarification do react or comment.
