Answer: Trained incapacity
Explanation: In simple words, it refers to the idea that after gaining a certain kind of education, skill or experience etc. the level of thinking of an individual cannot go beyond a certain limit.
In the given case, the manager was the upper level employee and was not habitual to the work that was performed by the workers in the restaurant.
Therefore this position in the workplace limited his skills of performing only the managerial work.
Hence from the above we can conclude that the above case depicts trained incapacity.
Answer:
Accounts receivable $361,000 debit
Allowance for uncollectible accounts $560 debit
Net Sales $806,000 credit
0.4% of credit sales are uncollectible = 0.4% x $806,000 = $3,224
adjusting entry:
December 31, 202x
Dr Bad debt expense 3,224
Cr Allowance for doubtful accounts 3,224
Allowance for doubtful accounts is a contra asset account that reduces accounts receivable.
Answer:
(A) $731,250
Explanation:
The formula to compute the break-even point in sales dollars is shown below:
= (Fixed expenses or Fixed cost) ÷ (Contribution ratio)
where,
Contribution ratio = Contribution margin ÷ sales
= $208,000 ÷ $650,000
= 0.32 or 32%
And, the fixed expense is $234,000
Now put the values to the above formula
So, the value would equal to
= $234,000 ÷ 32%
= $731,250
When it has a small population
Answer: $69,959
Explanation:
The amount of interest expense, that Corso will record on December 31, 2019, the company’s fiscal year end will be calculated thus:
First, we calculate the present value of payment which will be made on September 30,2020 and this will be:
= $1000000 × 0.857339
= $857339
Then, the interest expense on December 31,2018 will be:
= $857339 × 8%/12 × 3
= $17147
Therefore, the Interest expense on December 31,2019 will be:
= ($857339 + $17147) × 8%
= $874486 × 0.08
= $69959
