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3 years ago

Agreeable and adaptable employees are easy to

Business

2 answers:

Tema [17]3 years ago

6 0

Agreeable and adaptable employees are easy to

fire

be given more responsibility

take advantage of

overlook.

-Dominant- [34]3 years ago

4 0

Answer:

Be given more responsibility

Explanation:

Already finished this.

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Compute the uncollectible account expense, and make the appropriate journal entry, for the current year assuming the uncollectib

Gnoma [55]

Question Completion:

Johnson Corporation’s Unadjusted Trial Balance at year-end included the following accounts:

Debit Credit

Sales (75% represent credit sales) (credit) $1,152.000

Accounts Receivable(debit) $288,000

Allowance for Doubtful Accounts (credit) $2,184

Answer:

<h2>Johnson Corporation</h2>

a. Without considering the balance in the Allowance for Doubtful Accounts, income statement approach, 1% of total sale:

Journal Entry:

Debit Uncollectible Accounts Expense $11,520

Credit Allowance for Doubtful Accounts $11,520

To record the uncollectible accounts expense for the year.

b. Without considering the balance in the Allowance for Doubtful Accounts, income statement approach, 1.5% of credit sales:

Journal Entry:

Debit Uncollectible Accounts Expense $12,960

Credit Allowance for Doubtful Accounts $12,960

To record the uncollectible accounts expense for the year.

c. Considering the balance in the Allowance for Doubtful Accounts, balance sheet approach

Journal Entry:

Debit Uncollectible Accounts Expense $9,816

Credit Allowance for Doubtful Accounts $9,816

To record the uncollectible accounts expense for the year.

Explanation:

a) Data and Determination of Uncollectible Expenses and Allowances:

Sales (75% represent credit sales) (credit) $1,152,000

Accounts Receivable(debit) $288,000

Allowance for Doubtful Accounts (credit) $2,184

1. Uncollectible Accounts Expense = 1% of Sales:

= 1% of $1,152,000

= $11,520

2. Uncollectible Accounts Expense = 1.5% of Credit Sales:

= 1.5% of $864,000 (75% of $1,152.000 )

= $12,960

3. Allowance for Doubtful Accounts based on an aging of accounts receivable of $12,000:

Adjustment required to bring the Allowance for Doubtful Accounts to $12,000 is $9,816 ($12,000 - 2,184).

4 0

3 years ago

How will a new law mandating an increase in required levels of automobile insurance affect the equilibrium price and equilibrium

Degger [83]

Equilibrium price will fall; equilibrium quantity will fall.

What does Equilibrium price mean?

An Equilibrium price, also known as a market-clearing price, is the consumer cost assigned to some product or service such that supply and demand are equal, or close to equal.

The manufacturer or vendor can sell all the units they want to move and the customer can access all the units they want to buy.

What is Equilibrium quantity?

Equilibrium quantity is when there is no shortage or surplus of a product in the market.

Supply and demand intersect, meaning the amount of an item that consumers want to buy is equal to the amount being supplied by its producers.

Learn more about Equilibrium price and quantity here:

brainly.com/question/28182532

#SPJ4

4 0

1 year ago

Padraig receives total employment compensation of $70,000 and had $2,000 in job expenses. Which of the following could be true a

dimulka [17.4K]

<u>Answer:</u> Option C

<u>Explanation:</u>

The total compensation along with benefits are $72000. When the employee benefits calculated the annual gross pay given in option C . 12.5% interest calculated on $64000 will give total compensation of $72000.

Calculation of total compensation

Employee benefits = $64000 x 12.5/100

=$8000

Annual compensation= $64000 +$8000

=$72000

4 0

3 years ago

Read 2 more answers

Suppose the spot exchange rate for the Canadian dollar is Can$1.12 and the six-month forward rate is Can$1.14.

andreyandreev [35.5K]

Answer:

Explanation:

Given that:

1$ = Can $1.12

It takes a value of 1 U.S dollar to have 1.12 Canadian dollars. This signifies that the U.S dollar is worth more than Canadian dollars.

Assuming that the absolute Purchasing Power Parity PPP holds,

Since 1$ = Can $1.12, the cost in the United States of an Elkhead beer, if the price in Canada is Can$2.85 can be determined to be:

= $\dfrac{2.85}{1.12}$

= $2.545

Yes, the U.S. dollar is selling at a premium relative to the Canadian dollar.

This is because we are being told that the spot exchange rate for the Canadian dollar is Can $1.12 & in six (6) months time the forward rate will be Can $1.14.

The U.S dollar is expected to appreciate in value because it is trading at a premium in the forward market.

Canada has higher interest rates. This determined by using the formula:

= $\dfrac{(\dfrac{Fwd}{Spot }-1)}{n}$

where; n= numbers of years = 6 month/12 month = 0.5 year

Then;

$=\dfrac{(\dfrac{1.14}{1.12 }-1)}{0.5}$

$= \dfrac{(1.0178-1)}{0.5}$

$= \dfrac{(0.0178)}{0.5}$

= 0.0356

= 3.56%

6 0

2 years ago

Journalize the entries to record the following transactions for Mountain Realty Inc.:

kherson [118]

Answer and Explanation:

The journal entries are shown below"

On Aug 26

Cash Dr $768,000

To Common stock $640,000

To Additional paid in capital $128,000

(Being issuance of the common stock is recorded)

On Oct 1

Cash Dr $410,000

To preferred stock $410,000

(Being the issuance of the preferred stock is recorded)

On Nov 30

Cash Dr $187,000

To Common stock $170,000

To Additional paid in capital $17,000

(Being issuance of the common stock is recorded)

3 0

3 years ago