Answer:
$1,080
Explanation:
The inventory of Curlz Inc. shall be valued at lower of cost and net realizable value.
In case of CleanZ, since the net realizable value is lower than the cost, therefore the inventory of CleanZ shall be placed at net realizable value which is $0.80 per bottle.
In case of DyeZ , since the net realizable value is higher than the cost, therefore the inventory of DyeZ shall be valued at cost which is $10 per bottle.
Value of CleanZ=100*0.80 $80
Value of DyeZ=100*10 $1,000
Total value of inventory $1,080
You may want to compare your services, machineries, and others compared to your benchmark
<span>C: Businesses Management and Administration</span>
Answer:
Debit Allowance for doubtful debts $1,200
Credit Accounts receivable $1,200
Being entries to write off uncollectible debt on December 1
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
Where a debit that had previously been determined to have gone bad gets settled, debit cash and credit bad debt expense.
Being laid off is when the company is goes through financial struggles so they have to chose people to cut off, being fired is when you did something wrong so they fire you.
