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AlekseyPX
3 years ago
6

During its first year of operations, Ivanhoe Company had credit sales of $2,781,600, of which $368,300 remained uncollected at y

ear-end. The credit manager estimates that $19,340 of these receivables will become uncollectible.
Prepare the journal entry to record the estimated uncollectibles. (Assume an unadjusted balance of zero in Allowance for Doubtful Accounts.)
Account Titles and Explanation | Debit | Credit
Business
1 answer:
Sergeeva-Olga [200]3 years ago
7 0

Answer:

Explanation:

The journal entry to record the bad debt expense is shown below:

Bad debt expense A/c Dr  $19,340

      To Allowance for doubtful debts $19,340

(Being estimated uncollectible amount is recorded)

For recording this journal entry, we debited the bad debt expense account and credited the  Allowance for doubtful debts so that the amount is correctly recorded in the correct item.

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Answer:

B. A strategic action because such a large plant expansion will require a major commitment of resources.

Explanation:

There are two major forms of action in business decision making: strategic and tactical. Strategic action deals with decision that require major planning and investment of resource. Strategic actions have long term implementation and effect and are difficult to reverse.

Tactical actions, on the other hand, are flexible and involves actions taken on short term basis. Tactical actions are majorly bye-product of strategic decision.

On this note, Circus Aircraft`s  decision to double its plant capacity over the next two years is a strategic action because such a large plant expansion will require a major commitment of resources. And the action will not easily reversible.

Other options in the question are not totally right.

7 0
3 years ago
When Beck joined his uncle's oil exploration company in east Texas, he was given several hundred shares of stock in the firm, an
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Answer: Master limited partnership

Explanation:

A master limited partnership also referred to as a MLP, is known as a limited partnership which is publicly traded on an exchange. A Master Limited Partnership tends to combine the tax benefits or advantages from a limited partnership with its liquidity that are the publicly traded securities such as stocks and bonds offer.  A MLP tends to pays taxes like every other partnerships, thus by passing profits through to individual, and also accounting for these profits on owner's tax return.

7 0
4 years ago
When shopping you notice that a pair of jeans costs $20 and that a tee-shirt costs $10. you compute the price of jeans relative
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So, the dollar price of the jeans is the nominal variable, and the relative price is the real variable.   The relative price of the jeans have been adjusted to inflation. The dollar price hasn't been adjusted for inflation, hence why it is the nominal variable (not adjusted for inflation).
5 0
3 years ago
What is a significant part of the step of evaluating controls and determining which controls to implement?
Kisachek [45]

Answer:

"CBAs" would be the appropriate answer.

Explanation:

  • The CBAs system was intended to incorporate various business practices and knowledge across multiple security experts as well as provide a structured process to match application development policies and procedures with either the institution's threat analysis.  
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2 years ago
To keep their strategic alliances thriving, corporations have begun to develop organizational structures to support them and hav
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Answer:

The correct answer is letter "D": partner relationship management.

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3 years ago
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