Answer:Bad debt expenses will be $2000 on the income statement and Allowance for uncollectible Accounts will be ($3000) on the balance sheet.
Explanation:
The bad debt accounts and allowance for uncollectible accounts are stated in the income and balance sheet statement respectively yearly to monitor activities on collectible debts.
A firm based on his experience determined an estimated percentage of debts outstanding for the year that are likely to go bad. If the new estimate is greater than the previous year, the difference is debited to income statement and if the new estimate is less than the previous year estimate the difference is credited to the income statement.
In the above scenario the new year estimate is greater than previous year by $ 2000 and that lead to $2000 to be debited to income statement.
The balance is made to reflect the total of the new estimate to be deducted from collectible debt and this is why ($3000) goes to the balance sheet.
Answer:
it assists in organising the resources needed for the new business
Explanation:
A business plan details the mission and objectives of an entity. It explains the nature of business the entity will engage in, the target market, the resources it requires, and the projected revenues and expenses.
A business plan is useful when soliciting resources. Although a business plan does not guarantee a hundred percent financing, It shows how much resources will be required and how they shall be used. This helps the founders to know what is required at what stage and make the necessary arrangements.
Answer:
<em>Ok so Here's my advice</em> -
<em>"If You can't do great things then, do small things in a great way" </em>
<em>Byee!</em>
<em>-Nezuko </em>
There are many impact that could happen when doing this, some good some bad. The bad ones being that you could possibly lose credits that you have already earned, and you have to adjust to new atmosphere and new people. The good impact of this sis that you may be able to learn in a new way that could possibly be easier to understand for you.
Answer:
Business format franchising.
Explanation:
Business format franchising is a type of business arrangement in which a franchisor confers the right to a franchisee to sell their goods and services. A franchisor provides support which enables the franchisee to function independently.
A major advantage of this type of business arrangement is that it enables the business to expand to different location. Franchising enables a business to maximise profit which would lead to the overall growth of the organisation.
