Answer:
<em>Incomplete question is "2. What journal entry should Johnson record to recognize bad debt expense for 2021? 3. Assume Johnson made no other adjustment of the allowance for uncollectible accounts during 2021. Determine the amount of accounts receivable written off during 2021 4. If Johnson instead used the direct write-off method, what would bad debt expense be for 2021?"</em>
1. Gross accounts Receivable = Allowance Account balance at beginning / 10%
= $30,000 / 10%
= $300,000
2. Year Account Title Debit Credit
2021 Bad debt expense $105,000
($500,000*10% + $55,000)
To Allowance for Doubtful Accounts $105,000
3. Accounts receivable written off = Beginning balance of Allowance Account - Ending Balance of Allowance account
= $30,000 - (- $50,000)
= $30,000 + $50,000
= $80,000
4. Bad debt expense for 2021 (direct write off method) = Amount written off = $80,000
Answer: a). Debit Factory Payroll Payable $160,000; credit Cash $160,000.
Explanation: Direct labor refers to the manpower used in production. They are the factory workers involved in using the raw materials to produce finished goods.
Expense on direct labor is provided for during the production by a debit to factory payroll expense and a credit to factory payroll payable.
As such, the journal entry will be a debit to factory payroll payable $160,000 and a credit to cash $160,000. This means cash will reduce by $160,000 as the factory workers are paid while payables which is a provision account will reduce as well on the cash book by the same amount.
Answer:
The correct answer is letter "D": political environment.
Explanation:
The marketing research problem intends to collect the most quantity of information possible about consumers to find out how effective is the current advertising campaign of a company. The marketing research problem mainly focuses on the interaction between an organization and its customers in front of issues such as loss of market share.
All those interactions that involve analyzing the market as a whole, such as the introduction of products in a foreign region, or the impact of politics in the market involve talking about the management decision problem.
Answer:
18.54%
Explanation:
The computation of the project modified IRR is shown below:
Here we use the spreadsheet for determining the IRR
but before that we need to find out the cash inflows
Years Amount (in dollars)
Year 0: = - $278,191.12
($236,000 - $48,000 ÷ 1.13^4 -$30,000 ÷ 1.13^7)
Year 1: 64000
Year 2: 87000
Year 3: 91000
Year 4: 0
Year 5: 122000
Year 6: 154000
Year 7: 0
Now we use the excel
=IRR({-$278,191.12,$64,000,$87,000,$91,000,$0,$122,000,$154,000,0})
= 18.54%
The answer to this is MEDICAL and DENTAL EXPENSES. This is already a fixed law in terms of expenses deduction which would be based on the adjusted gross income. For individuals below 65 years old, they only have 10%. 65 years old is the temporary threshold and this is an exemption making it 7.5% of their AGI or the adjusted gross income.
