Answer:
The required adjusting entry to record estimated bad debts expense is as follows:
Debit Bad Debts Accounts with $39,960
Credit Allowance for Doubtful Accounts with $39,960
Being the adjustment to bring the Allowance for Doubtful Accounts up a new credit balance of $43,625.
Explanation:
The Allowance for Doubtful Accounts had a credit balance of $3,665. Since management had estimated that $43,625 of the Accounts Receivable balance would be uncollectible, this means that the difference $39,960 ($43,625 - $3,665) would be the adjusting amount to bring the balance up-to-date.
Remember that the Allowance for Doubtful Accounts is a contra account to the Accounts Receivable. It is used to reduce the balance of the Accounts Receivable based on collectibility judgement or estimate which management makes out of experience. The balance in this account is, therefore d,educted from the Accounts Receivable in the Balance Sheet in order to obtain the net Accounts Receivable balance.
The account that expenses the increase in this account is the Bad Debts Expense Account, which is taken to the Income Statement to reduce the income.
Answer:
I don't know about the complete options available, but I know the purpose of finding the total cost of the job, which is to charge the clients the right fee depending upon their time taken and cost of each job. That's the purpose
of knowing the cost of the assignments. Another purpose includes to maximise the profits by opting to jobs which has higher contribution per unit. By meeting the demands of jobs which has higher number of contribution per unit, first, makes the firm more profitable.
Answer:
a. Average total cost minus average fixed cost.
Explanation:
- Total cost of production (TC) can be expressed as the sum of two elements: total fixed cost (F) -those cost that do not vary with output level - and total variable cost (V) - which are those cost that vary with the level of production.
- Average total cost (ATC) is simply the division of total cost by the output produced (Q): .
- Average variable cost (AVC) is the division of variable cost by the output produced: .
- Then, average variable cost can be obtained by :
- dividing the total variable cost by output (option c) or
- subtracting to average total cost the fixed average cost (), (option a).
Answer:
The way you could do a risk analysis of your project could be as I will explain below.
Explanation:
For example from the project: Selection of optimal culture media for the isolation of the Azospirillum bacteria, you must first know what <em>risk factors could occur such as:</em>
-Contamination of selection crops.
-Contamination of sterilization materials.
-The above risk factors can be evaluated with the elaboration of a <em>qualitative technique </em>such as a risk map or matrix that allows you to evaluate the probability that some of the aforementioned factors will occur and the impact it would have on the project.
-The <em>qualitative technique </em>that you could use is that of representation and data collection where you can make research queries and examine records that allow you to know what main factors could contaminate the culture media.
After having performed the above procedures, you must make a<em> plan to minimize the negative effects:</em>
In the case raised in this project we could say that it is important to verify the expiration dates of the culture media and verify the sterilization time of laboratory materials.
Explanation:
A focus group can be defined as a qualitative marketing research method where some people with common characteristics are brought together in a group who are guided by a trainer to promote discussions on a particular topic of interest and gather information to assist in decision making.
To organize focus groups for an innovative German-style fast food restaurant, you could separate 3 groups, the first being ages 18 to 30, the second 30-45 and the third group 45 and above.
The screening criteria could be, sources of income, profession, sex, taste for food, hobbies, etc.
The questions to ask could be related to the number of times a week people eat fast food, what is your favorite German food, how much are you willing to pay for the options offered in the restaurant, what elements do you consider most attractive in a restaurant ,etc.