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3 years ago

__________ is a contra asset account representing the amount of accounts receivable that we do not expect to collect.

Business

1 answer:

maw [93]3 years ago

6 0

Answer:

Allowance for uncollectible accounts

Explanation:

This account is a contra asset account which says that the account receivable amount is not collected in near future

It is shown in the asset side of the balance sheet

Assets side

Current Assets

Accounts receivable XXXXX

Less: Allowance for doubtful debts (XXXXX)

Net accounts receivable XXXXX

It is an estimated amount which is not to be paid by the customer in respect to goods delivered to them

The journal entry would be

Bad debt expense A/c Dr XXXXX

To Allowance for uncollectible accounts A/c XXXXX

(Being the uncollected amount is recorded)

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The balanced scorecard approach

AnnyKZ [126]

Answer: The correct answer is "c. normally sets the financial objectives first and then sets the objectives in the other perspectives to accomplish the financial objectives.".

Explanation: The balanced scorecard approach normally sets the financial objectives first and then sets the objectives in the other perspectives to accomplish the financial objectives.

The balanced scorecard states that we must focus on the organization from four perspectives and that goals, measures, rules or objectives be developed for these perspectives.

The 4 perspectives are:

- Financial: which is the most important one whose objectives are established first and the objectives of the other perspectives will be established in order to meet the objective of the financial perspective.

-Client

-Internal processes

-Organizational capacity

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3 years ago

The following information is available for Blossom Company:

Aleonysh [2.5K]

Answer:

Total Assets = $124,510

Total Liabilities = $38,320

Total Stockholders' equity = $86,190

Explanation:

Blossom Company

Balance sheet

As at December 31, 2022

Assets

Current assets

Cash $6,390

Accounts receivable 2,100

Supplies 3,800

Inventory 2,920

Total current asset $15,210

Non-current asset

Equipment (net) 109,300

Total assets 124,510

Liabilities and Stockholders' Equity

Current liabilities

Accounts payable $4,500

Interest payable 670

Unearned service revenue 820

Salaries and wages payable 830

Total current liabilities $6,820

Long-term liabilities

Notes payable 31,500

Total liabilities $38,320

Stockholders' equity

Common stock 58,900

Retained earnings (Balancing amount) 27,290

Total stockholders' equity $86190

Total liabilities and stockholders' equity $124,510

8 0

3 years ago

During the first year of operations, a company sold $113,000 of goods to customers and received $96,500 in cash from customers.

Oksi-84 [34.3K]

Answer:

Net Income for the year is $41700

Explanation:

The accounting basis that is generally followed by the businesses is the accrual basis of accounting. The accrual principle states that incomes and expenses should be recorded and recognized in the period to which they relate to rather than in the period where cash is received or paid.

This means that we will record income and expenses related to this year in this year's profit calculation even when we have not received or paid cash for such incomes and expenses.

Thus, net income for this year will be calculated as,

Net Income = Total Sales Revenue - Total expenses

Net income = 113000 - 71300

Net Income = $41700

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3 years ago

The goal of strategy is to find a(n) ________ that is so well suited to the firm's competitive advantages that other organizatio

kolbaska11 [484]

Answer:

The correct answer is letter "C": propitious niche.

Explanation:

Companies develop strategies to set the steps necessary to accomplish an objective. One of those steps involves finding the firm's propitious niche which is no more than its target market. It determines what the company should do based on the best competitive advantage the firm will have in that market that will differentiate the company from competitors and will help the firm to establish in the market.

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3 years ago

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List two components of visual aids that you have used recently. Describe how you used them.

gavmur [86]

Explanation:

PowerPoint:

Probably the most obvious type of visual support is Microsoft PowerPoint. Best used, it can really support you for your presentation; it could have the reverse effect, but it was poorly used.

The concepts are as follows:

Use a sufficiently big font (at least 20pt).

Keep your background straightforward.

If appropriate, use graphics.

Make things visual.

Use endless bullet point list slides that are all the same

Don't

You can not read it so small.

Use a picky image from the background.

The screen is white or black.

Do not over-do it – it's annoying.

Use neverending bullet point list slides that all look the same

Paper handouts :

Handouts are extremely helpful. Use a presentation if your data is too comprehensive for a slide, if you really want your spectators to have their findings fully recorded. Take into account the merits of your presentations at the start, middle and end. Given too long and a diversion they could show. Given too late, too many needless references may have been made by the audience. Provided in the midst and the viewers will read and not listen predictably. One powerful way to prevent these troubles is to give the key steps during your presentation incomplete presentations. The lost details can be highlighted vocally and your viewer can then fill up the gaps.

7 0

3 years ago

Read 2 more answers