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3 years ago

Government can encourage entrepreneurs by

1 answer:

7 0

<span>A. Tax incentives. Entrepreneurs are being encouraged by the government to put up business through tax incentives. Tax incentives may be in the form of tax holiday wherein the firm will not pay taxes for a certain period of time provided that it meets all the conditions laid out by the government. Another incentive would be a tax reduction or rebates. Tax exemptions are also a form of tax incentive to invite entrepreneurs to do business.

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On January 1, Year 2, Grande Company had a $69,000 balance in the Accounts Receivable account and a $2,500 balance in the Allowa

attashe74 [19]

Answer:The amount of uncollectible accounts expense recognized on the Year 2 income statement is $1,800.

Explanation:The amount of uncollectible accounts expense recognized on the Year 2 income statement is $1,800 ($180,000 x 1%), which has been computed by multiplying the percentage of allowance for uncollectible account with the total on account sales.

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4 years ago

Brief Exercise 229 On January 1, the Biddle & Biddle, CPAs received a $7,500 cash retainer for accounting services to be pro

Gnoma [55]

Answer:

Debit Credit

Unearned revenue $2,500

($7,500/3)

Revenue $2,500

Explanation:

The following adjusting entry shall be recorded in the accounts of the Biddle and Biddle, on January 31, in respect of revenue earned by it from accounting services:

Debit Credit

Unearned revenue $2,500

($7,500/3)

Revenue $2,500

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4 years ago

For an organization with annual sales of $500 million, purchases of $300 million and profit of $75 million, a 15 percent reducti

Step2247 [10]

Answer: B. 60 percent (sales increase of 60 percent would be required to achieve the same percentage increase in profit).

Explanation:

Annual sales = $500,000,000

Purchases = $300,000,000

Revised purchases = $300,000,000 × (100% - 15%) = $300,000,000 × 85%

= $255,000,000.

Current profit = $75,000,000

Current profit percentage = $75,000,000 / $500,000,000

= 15%

Additional profit due to the reduction in the purchases = Purchases - Revised purchases

= $300,000,000 - $255,000,000

= $45,000,000

Additional sales made = $45,000,000 / 15% = $300,000,000.

Profit Leverage effect = $300,000,000 / $500,000,000 = 0.6 = 60%

Therefore,the correct option is B.

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3 years ago

What do you mean by consistency in accounting ?

vfiekz [6]

Answer:

once you adopt an accounting principle or method, continue to follow it consistently in future accounting periods so that the results reported from period to period are comparable.

Explanation:

4 0

4 years ago

Read 2 more answers

Here are some points to ponder when hiring data professionals:

NemiM [27]

Answer:1) forecasted sales return for the period, expenses to be incurred including overtime wages, utility bills etc, cost benefits

B) cost benefits.

2 The emotional need and the consent of the stakeholders including the staff,customer's, suppliers

3 A mental diagnoses of the reaction of stakeholders to the idea is very important and can only be deduce by psychology skills

Explanation: There is a need to find out whether staying open an extra hour will bring more sales and even with more sales , there is a need to find out if the workers will buy into the idea,they may feel that their private time is being encroached ,once the staff show dissension,it will be difficult to achieve the goal .the cost benefits of the process need to be established to make a positive decision.customers view can be gotten through questionnaire, survey etc.

2)this will allow for the emotion,mood and perception of the staff and other stakeholders be met before proceeding on this implementation,as they say happy staff means happy customer and more profits.

3) A good knowledge of psychology will help you ascertain the mood,ac ceptance of the proposal by all staff and where necessary incentives can be introduced

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3 years ago