When a bad debt is written off, the thing that should be fine is an entry to reinstate the account receivable and and entry to record payment.
<h3>What is a bad debt?</h3>
A bad debt simply means an uncollectible account expense that's unlikely to be paid by a debtor.
When an account previously written off is collected in full, to ensure the accounting for the complete payment history of the customer, it's important to reinstate the account receivable and and entry to record payment.
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Answer:
Explanation:
Sunk, or past, costs are monies already spent or money that is already contracted to be spent. A decision on whether or not a new endeavor is started will have no effect on this cash flow, so sunk costs cannot be relevant.
For example, money that has been spent on market research for a new product or planning a new factory is already spent and isn’t coming back to the company, irrespective of whether the product is approved for manufacture or the factory is built.
Committed costs are costs that would be incurred in the future but they cannot be avoided because the company has already committed to them through another decision which has been made.
Answer: 61,200 units
Explanation:
Using the FIFO method:
= Equivalent units for beginning WIP + Units started and finished + EUP Ending WIP
Units started and finished = 65,000 additional units - 10,000 closing WIP
= 55,000 units
80% of the beginning WIP had been completed in the previous month so only 20% remains.
EUP Conversion = (1,000 * 20%) + 55,000 + (10,000 * 60%)
= 61,200 units
Answer: True
Explanation:
The Hawthorne studies were designed originally in order to show the relationship that existed between productivity and the workplace conditions.
A study like the the level of lighting was used to show correlation with the productivity of the workers and the result was that demonstrated that no matter what the levels of light and noise were, there was an increase in the worker productivity because the workers liked the attention they received by being part of a study.
