Answer:
Credit to Bob, Capital for $114,000
Explanation:
Based on the information given the entry that the partnership makes to record Bob's initial contribution includes a CREDIT TO BOB, CAPITAL FOR $114,000 Calculated using this formula
Bob, Capital=Accounts Receivable-Allowance for Doubtful Accounts+Cash
Let plug in the formula
Bob, Capital=$120,000-$18,000+$12,000
Bob, Capital=$114,000
Answer:
department or functional area
Explanation:
Three types of strategies are identified in the management system: corporate strategy; functional strategy; of agricultural units
strategy.
1) Corporate strategy - defines perspective development of the enterprise as a whole. It focuses on the mission of the enterprise and serves the ultimate goal of the enterprise - maximizing profit. Choosing the type of economic activity at the level of the corporate strategy, maintaining the long-term competitive advantage of the enterprise; The most important issues, such as the allocation of resources across the strategic areas of the mirror, are addressed by senior managers.
2) The functional strategy of the enterprise is formed by the main functional units in each activity area, we can call these units as departments or functional areas too. Functional strategies are used in the following areas: marketing, production, finance, personnel, investment and innovation. Functional strategy of the enterprise is aimed at deeper study of its corporate strategy (realization of the main purpose of the enterprise) and provision of resources of separate economic units. Functional division managers are involved in the development of strategies for key functional units.
3) Business unit strategy - (business strategy usually serves two purposes - competitive advantage of a specific product and increase of its profitability. Business management in the new region, etc. At this level, managers and managers of business units are involved in the development of strategies, advice and assistance of managers in the development of corporate strategy.
Answer:
The correct answer is letter "D": What is the best business entity and structure setup for continuity and transferability?
Explanation:
If an investor is considering to start a new business and thinking about how his children will continue with the company after his or her pass away, the factors to be considered are the<em> type of entity</em> that could be more convenient for his children according to their interests and the <em>transferability </em>of the organization upon the decease of the original owner.
Types of entities refer to the structure the firm will take and the responsibility the owners will take. We could identify sole proprietorships, partnerships, Limited Liability Companies (LLCs), and corporations to mention a few.
When it comes to transferability, for instance, in sole proprietorships, partnerships, and LLCs that cannot be done upon the death of an owner. For such a case a new organization has to be born. That situation does not happen in corporations since ownership can be transferred by the purchase of stocks and the entity remains the same.
Answer:
<u>Bottom up budgeting</u>
Explanation:
In Techsorrd Inc. the leads of the technical team , support team, and marketing team anticipate the resource needs for their respective departments and send them to the top management for approval. In this scenario, Techsorrd Inc. is most likely using <u>Bottom up budgeting.</u>
The budgeting in which the cost of all individual department is determined and then cost of all department is total up.
Bottom up budgeting helps in <em>accuracy and accountability</em> of the budget. It also <em>helps in motivating the employees.</em>
Answer:
They collected $88,000
Explanation:
We have an initial balance of accounts receivable of $ 25,000. To this balance, we must add the revenue of the year a total of $ 119,000. By making this sum we get the result of $ 114,000, this would be the total of our accounts receivable totalized.
Subsequently, to this value we subtract the final balance of accounts receivable that was $ 56,000, to obtain a result of $ 88,000. In other words, $ 88,000 would be the amount collected from accounts receivable during the year.
