Which was not a response taken during the hoover administration in an attempt to turn the economy around?

Allowance for Doubtful Accounts has a credit balance of $500 at the end of the year (before adjustment), and bad debt expense is

andrew11 [14]

Answer:

The correct answer is c) $9,000

Explanation:

If net credit sales are $300,000 and bad debt expense is estimated at 3% of net credit sales.

$300,000 x 3%= $9,000

or

$300,000 x 0.03= $9,000

The amount of the adjusting entry to record the estimated uncollectible accounts receivables is $9,000

7 0

3 years ago

The main functions of human resource management can be categorized into ... A. Line function, management functions, and employee

babymother [125]

Answer:

C. Staff functions, line functions, and coordination functions

Explanation:

Human resource management functions may be classed into : line functions which involves the segment charged with the transition of an organization directly into its daily operational activities such as production, selling marketing and other customer service activities. The Staff functions of the human resource Management refers to advisory support on various activities of the organization which has to do with staffing, recruitment.

Coordination function involves the implementation of strategies which ensures synergy between various departments ensuring the adopting of best strategy to ensure maximum output.

5 0

2 years ago

The diameter of bearingsis known to have a mean of 35 mm with a standard deviation of 0.5 mm. A random sample of 36 bearings is

timama [110]

Answer:

Explanation:

given,

Mean,μ= 35mm

Standard Deviation,σ = 0.5mm

Sample size, n = 36

Sample Standard deviation = $\dfrac{\sigma}{\sqrt{n}}$

= $\dfrac{0.5}{6}$

= 0.0833

The interested diameter is between 34.95 to 35.18 mm

Calculating the Z score of the for the diameter mentioned.

$P(\dfrac{x_1-\mu}{\sigma})$

$P(\dfrac{34.95-35}{0.0833})$

$-0.6< Z < 2.16$

now, Form Z-table

$P(Z$

Subtracting the value

= 0.9846 - 0.2741

= 0.71

Hence, the required probability is that the diameter of bearing is in between 34.95 and 35.18 mm is equal to 0.71.

6 0

3 years ago

rony is the managing director of a fabric manufacturing company in order to limit the profit of the company and , therefore , th

77julia77 [94]

Rony as the managing director of a fabric manufacturing company enjoys an employee benefit called <u>perquisites</u><u> (D)</u>.

Let's discuss each employee benefit option we have:

Novated lease is an employee benefit that allows an employer pays for its employee car lease and car runnit costs out of its employee's salary package. An employee will choose a car he wants and a novated lease arrangement is set up between the employee, employeer, and car agent. The employer then will pay directly to the car agent from the employee's salary. The employee may save tax and running costs using this kind of leasing.

Fiscal Incidence is the combined overall economic impact of both government taxation and expenditure on the real economic income of individuals. Fiscal incidence happens when the econonmic incidence of taxation is combined with the economic incidence of government expenditure. Fiscal incidence is the overall increase or decrease in welfare that individual enjoys from the state's taxing and spending policies.

Swaps is a derivative contract which stated that the two parties will exchange the cash flows or liabilities from two different financial instruments. Swaps usually are based on a notional principal amount. The most common kind of swap is an interest rate swap.

Perquisites or fringe benefits are benefits an employee received over and above his standard salary. Some of these components are taxed separately and someother are tax-exempted. Perquisites may be classified into 3 different types:

Taxable perquisites
Tax-exempted perquisites
Perquisites taxable only by employee

By offering perquisites to its employee, a company may increase its employee productivity, loyalty and retention. Prequisites could also be used as an attraction for top talent.

Learn more about Employee Benefit here: brainly.com/question/12143528

#SPJ4

Complete Question:

Rony is the managing director of a fabric manufacturing company. In order to limit the profit of the company and therefore, the txes on the business the management pays a hefty amount to Rony as year-end bonuses. The company also pays for his family cavations and foreign trips. The benefits enjoyed by Rony are called ____

a. Novated leases

b. Fiscal incidences

c. Swaps

d. Perquisites

6 0

9 months ago

Harrington Company was sued by an employee in late 2017. General counsel concluded that there was an 70 percent probability that

insens350 [35]

Answer:

Explanation:

From the given information; the objectives are to:

A. Prepare journal entries for this lawsuit for the years ending December 31, 2017, and December 31, 2018, under (1) U.S. GAAP and (2) IFRS.

B. Prepare the entry(ies) that Harrington would make on the December 31, 2017, and December 31, 2018, conversion worksheets to convert U.S. GAAP balances to IFRS.

A. Journal entries for the lawsuit for the years ending December 31, 2017 and December 31, 2018

1 Under US GAAP Debit Credit

31 Dec, Loss on lawsuit-estimated $34,000

2017 Estimated liability for lawsuit $34,000

(estimated liability provided for lawsuit)

31 Dec, Estimated liability for lawsuit $34,000

2018 Additional loss on lawsuit $33,000

Cash $67,000

(cash paid on settlement)

2 Under IFRS

31 Dec, Loss on lawsuit-estimated $56000

2017 Estimated liability for lawsuit $56000

(estimated liability provided for lawsuit)

31 Dec, Estimated liability for lawsuit $56000

2018 Additional loss on lawsuit $11000

Cash $67000

(cash paid on settlement)

Under US GAAP, if there is a range of possible losses but loss cannot be estimated within that range, the entity will record the low end of the range.

Under IFRS, if loss cannot be estimated with in the range, the entity will record the midpoint of range.

N.B:

Additional loss on lawsuit = 67000 - 34000

Additional loss on lawsuit = 33000

Estimated liability for lawsuit = (32000 + 78000)/2

Estimated liability for lawsuit = 56000

B. Journal entry for conversion from US GAAP to IFRS

31 Dec, Loss on lawsuit-estimated $22000

2017 Estimated liability for lawsuit $22000

31 Dec, Estimated liability for lawsuit $22000

2018 Additional liability for lawsuit $22000

6 0

3 years ago