Which element of a business does the following statement represent?

Temporary workers—often called temps—may not be subject to the contractual obligations or general policies that govern other emp

Misha Larkins [42]

Answer is A: true
they are not subject to contractual obligations

8 0

3 years ago

Pincus Associates uses the allowance method to account for bad debts. During 2021, its first year of operations, Pincus provided

Luba_88 [7]

Answer:

Pincus Associates

Journal Entries:

a. Debit Allowance for Uncollectibles $4,800

Credit Accounts Receivable $4,800

To write off uncollectible accounts.

b. Debit Bad Debts Expense $5,470

Credit Allowance for Uncollectibles $5,470

To record bad debts expense for the period.

Explanation:

a) Data and Calculations:

Services on account = $119,000

Uncollectibles written off = $4,800

Cash collections on accounts = $100,800

Accounts receivable balance = $13,400 ($119,000 - 4,800 - 100,800)

Estimated uncollectible allowance = 5% of accounts receivable balance

= $670 ($13,400 * 5%)

Analysis:

a. Allowance for Uncollectibles $4,800 Accounts Receivable $4,800

b. Bad Debts Expense $5,470 Allowance for Uncollectibles $5,470 ($4,800 + $670)

4 0

2 years ago

The price of food is rising fast! how might this situation be handled in a…

Pani-rosa [81]

A free market economy is when the prices of supply and demand are free from the government. Meaning they can charge whatever they want and the government has to say. So answering your question they can just charge less if they felt like it since they have free reins of the prices.

A command economy is the opposite whereas supply and demand prices are determined by the government and the government only. The government would probably not change the prices because the government sucks.

(A mixed economy is the best way to achieve that)

4 0

3 years ago

IMA GOIN BROKE FROM THESE GIVAWAYS BUT HERES MORE POINTS

KIM [24]

Answer:

TYSM YOU ARE AMAZING

Explanation:

5 0

3 years ago

Read 2 more answers

your firm is contemplating the purchase of a new $545,000 computer-based order entry system. the system will be depreciated stra

liberstina [14]

The IRR of the new computer-based order entry system is 22.87%.

Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested

The cash flow at the beginning of the period = purchase price of the system - reduction in working capital

$545,000 - $96,000 = $449,000

Depreciation expense = (cost of the asset - salvage value) / useful life

($545,000 - 0) / 5 = $109,000

Cash flow each year from year 1 to 5 = (amount saved - depreciation)(1 - taxes) + depreciation

($165,000 - $109,00)(1 - 0.22) + $109,000 = $152,680

Terminal cash flow = Salvage value - (tax x salvage value)

$71,000 - (0.22 x 71,000) = $55,380

IRR can be determined using a financial calculator:

Cash flow in year 0 = $-449,000

Cash flow in year 1 - 4= $152,680

Cash flow in year 5 = $152,680 + $55,380 = 208,060

IRR = 22.87%

To learn more about IRR, please check: brainly.com/question/26484024

#SPJ1

3 0

1 year ago