Answer: Establishing an Allowance for Doubtful Accounts under the allowance method is necessary <u><em>because estimates must be made when recording bad debt expense and it is not possible to know which specific accounts will not be collected.</em></u>
Allowance for doubtful accounts is a diminution of accounts receivable and is recorded as a write-off straightaway beneath accounts receivable that is appearing on a organization balance sheet.
Interpersonal skills are the skills used by a person to interact with others properly.
Mya is a manager who practices <u>intellectual stimulation</u> with her employees.
<h3>What is
intellectual stimulation?</h3>
Intellectual stimulation can be defined as a form of leadership style in which a manager (leader) encourages innovation and creativity among his or her subordinates (employees), as well as critical thinking and problem-solving skills.
In this context, we can infer and logically deduce that Mya is a manager who practices <u>intellectual stimulation</u> with her employees because she gave them full authority to solve the advertising problem and implement the solution.
Read more on intellectual stimulation here: brainly.com/question/14568042
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Answer:
Closing Inventory : $ 1,000
Cost of Goods Sold: $ 3,200
Explanation:
The inventory balance as at February 28 is 50 units. This is calculated by adding the total purchases of 100 on February 01 and 100 on February 9 reduced by the sales of 50 units on February 4 and 100 units on Feb 27.
In a LIFO costing method, the last purchased inventory is costed first hence the term Last In First Out (LIFO). The inventory balance of 50 units shall be valued from the first purchase @ $ 20. Thus the inventory value is $ 1000. ( $ 20 x 50 units)
For the cost of goods sold of the units sold aggregating to 150 units, the last purchased units will be considered first and then the remaining shall be considered from the first purchase.
Computation of cost of goods sold
100 units @ $ 22 $ 2,200
50 units @$ 20 $ 1,000
Total Cost of goods sold for 150 sold units $ 3,200