Answer: D. prepare the trial balance, complete adjustments, prepare the adjusted trial balance, extend the respective totals to the Income Statement and Balance Sheet columns.
Explanation:
You need to first prepare the trial balance and then at the year end there are certain adjustments that needs to be completed and then you prepare the adjusted trial balance after completing the adjustments and then the information that are relevant to income statement and balance sheet should go to their respective columns.
The main disadvantage of the valuation method is that the terminal value tends to dominate the total value in many cases.
In a free cash flow valuation, the intrinsic value equals present value of its free cash flow and thus, the net cash flow is left over for distribution to stockholders and debt-holders in each period.
- So, the disadvantage of the free cash flow valuation method is that the terminal value tends to dominate the total value in many cases.
Hence, the Option B is correct.
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Answer: contingency plans
Explanation:
A contingency plan is a plan that's designed in order to take into consideration ever possible event or circumstance that may occur in the future.
The aim of a contingency plan is to help an organization hat back to its feet as soon as possible when an unforeseen event o circumstance happens.
In the systems approach to ob, person and situation factors are considered individual, while the three levels of analysis are categorized as processes or inputs/outcomes.
An example of a system is the laws and procedures of a democratic government. An example of a system is how someone organizes their closet. An example of a system is all the organs that work together for digestion. It's an organized collection. A system has various inputs that go through specific processes to produce specific outputs that together achieve the desired overall goal of the system.
A system is a collection of elements or components organized for a common purpose. The term can describe an organization or plan itself (which has a similar meaning to the method, as in "I have my own little system"), or it can describe part of a system ( like "computer system").
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Answer:
The necessary adjusting entry would include a credit to the allowance account for $40080
Explanation:
Marigold Corp.'s Account Balances
At December 31, 2020
Accounts Receivable $917000 Debit
Allowance for Doubtful Accounts $1920 credit
Bad Debts $42000
Unadjusted Balance of Uncollectibles $ 1920
<u>Estimated Balances $ 42000</u>
<u>Required Adjustment $ 40080</u>
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The data tells that the Allowance for Doubtful Accounts has a credit balance of $1920 the required adjustment to the allowance for doubtful accounts is $ 40080. The required entry is
Bad debts Expense 40,080 Dr.
Allowance for Doubtful Accounts $40,080 credit
