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scoundrel [369]
3 years ago
7

The unadjusted trial balance at year-end for a company that uses the percent of receivables method to determine its bad debts ex

pense reports the following selected amounts: Accounts receivable $ 446,000 Debit Allowance for Doubtful Accounts 1,360 Credit Net Sales 2,210,000 Credit All sales are made on credit. Based on past experience, the company estimates 3.0% of ending account receivable to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense?
Business
1 answer:
Gnom [1K]3 years ago
5 0

Answer:

The adjusting entry which is to be recorded is shown below:

Explanation:

The adjusting entry which is to be recorded is as:

Bad Debt Expense A/c..................................... Dr $14,740

         Allowance for Doubtful Accounts A/c...............Cr $14,740

As the company records the bad debt expense at the end of the present year

Working Note:

As the company used the percent of receivables sales

Amount = Accounts receivables × Percentage of ending receivable

= $446,000 × 3.0%

= $13,380

Bad debt expense amount = Amount - Debit balance of allowance for doubtful accounts

= $13,380 + $1,360

= $14,740

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ololo11 [35]

Answer:

True

Explanation:

For Roberta citing family commitments as reason for participating in the mandatory extra hours cannot be justified in court. Although the court may be sympathetic, it is not enough public policy precedent.

The employer has the right to terminate her employment based on this refusal.

No public policy will be violated by the employer.

7 0
3 years ago
Members of 67 countries attended a conference on economic development hosted by an international organization based in Gent, Bel
Sever21 [200]

Answer:

High availability.of cheaper labour

Explanation:

An emerging market is defined as one that does not meet the standards of a fully developed market. For example in the area.of labour cost there is no standard set for it.

So companies can get cheap labour from these economies.

Companies like Apple and Nike have used cheap labour from emerging countries to reduce their cost of production.

Manufacturing bases are established in relatively poorer economies where the workers are willing to work for cheap wage

4 0
3 years ago
Money facilitates trade because: the division of labor allows goods to be produced at a lower cost. it serves as a medium of exc
Sergeeva-Olga [200]

Answer:

it serves as a medium of exchange

Explanation:

<em>Money facilitates trades because it serves as a medium of exchange.</em>

<u>Trade generally involves the exchange of goods/services for another goods/services or money. The exchange of goods/services for another goods/services is termed trade by barter.</u>

Generally, all over the world, money is recognized as a medium of exchange. Each good/service can easily be evaluated in terms of money and the amount is exchanged during trading.

5 0
4 years ago
As Elisa gets ready to open her new business, she has identified the tasks that need to be accomplished and has assigned employe
Nitella [24]

Answer:

DIVISION OF LABOUR

Explanation:

Division of labour is : allocating different subparts of a task process to different people, to attain better efficiency. Better efficiency is attained by - labourers being specifically specialised in that subsection task, which increases their individual & hence organisation efficiency.

Elisa:  opening her new business & assigning tasks to employees - is an example of the same.

All other options are inapt because: Management departmentalisation is dividing organisation into specialised niche departments. Mass production economies is cost reduction due to bulk quantity production. Specialisation of priorities is developing competitive advantage by research & innovation.

7 0
3 years ago
Information technology's primary role in supply chain management is creating the integrations, or tight process and information
RSB [31]

Answer:

<h2>The given statement is true.Hence, the answer would be option a) or true in the answer options</h2>

Explanation:

  • In business operation,one of the primary or fundamental functions or roles of information technology is to facilitate the collaboration between various operational or functional areas or departments which can enhance the productive efficiency and performance of business operation.
  • In this regard,information technology can be ideally used to assimilate or integrate between various activities or functions under business operation such as marketing,sales,finance,manufacturing,supply chain activities etc. to establish or ensure a better and strong departmental or functional coordination and synchronization.
  • Therefore,information technology also enables a better flow or movement of essential business information among the various concerned or relevant departments or components which can improve operational efficiency and inter-departmental communication process.
  • Furthermore,information technology can also be essentially employed to ensure a better cohesion,linkage and coordination among related companies or firms which can immensely facilitate inter firm communication for pertinent business purposes.This can lead to much improved and better commercial or business coordination among the related firms or companies.
4 0
3 years ago
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