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Paladinen [302]
3 years ago
10

Active endeavors specializes in sporting equipment. recently, it has decided to add to its business units by opening a steakhous

e near a convention center. this strategy is an example of:
Business
1 answer:
poizon [28]3 years ago
5 0
<span>Active endeavors specializes in sporting equipment. Recently, it has decided to add to its business units by opening a steakhouse near a convention center. This strategy is an example of: conglomerate diversification. 

Conglomerate diversification is a growth strategy when organizations add new products or services that are vastly different from anything they've sold prior. These new business opportunities are unrelated to their previous and operate completely different. 

</span>
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Compute the uncollectible account expense, and make the appropriate journal entry, for the current year assuming the uncollectib
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Question Completion:

Johnson Corporation’s Unadjusted Trial Balance at year-end included the following accounts:

Debit Credit

Sales (75% represent credit sales) (credit) $1,152.000

Accounts Receivable(debit) $288,000

Allowance for Doubtful Accounts (credit) $2,184

Answer:

<h2>Johnson Corporation</h2>

a. Without considering the balance in the Allowance for Doubtful Accounts, income statement approach, 1% of total sale:

Journal Entry:

Debit Uncollectible Accounts Expense $11,520

Credit Allowance for Doubtful Accounts $11,520

To record the uncollectible accounts expense for the year.

b. Without considering the balance in the Allowance for Doubtful Accounts, income statement approach, 1.5% of credit sales:

Journal Entry:

Debit Uncollectible Accounts Expense $12,960

Credit Allowance for Doubtful Accounts $12,960

To record the uncollectible accounts expense for the year.

c. Considering the balance in the Allowance for Doubtful Accounts, balance sheet approach

Journal Entry:

Debit Uncollectible Accounts Expense $9,816

Credit Allowance for Doubtful Accounts $9,816

To record the uncollectible accounts expense for the year.

Explanation:

a) Data and Determination of Uncollectible Expenses and Allowances:

Sales (75% represent credit sales) (credit) $1,152,000

Accounts Receivable(debit) $288,000

Allowance for Doubtful Accounts (credit) $2,184

1. Uncollectible Accounts Expense = 1% of Sales:

= 1% of $1,152,000

= $11,520

2. Uncollectible Accounts Expense = 1.5% of Credit Sales:

= 1.5% of $864,000 (75% of $1,152.000 )

= $12,960

3. Allowance for Doubtful Accounts based on an aging of accounts receivable of $12,000:

Adjustment required to bring the Allowance for Doubtful Accounts to $12,000 is $9,816 ($12,000 - 2,184).

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3 years ago
"The average monthly rent for a two-bedroom apartment in City A is $820 with a standard deviation of $86. The average monthly re
kicyunya [14]

Answer:

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= standard deviation / mean or average

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coefficient of variation  = 86 / 820

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coefficient of variation  = 75 / 790

= .0949

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2 years ago
Brian had the following items of income this year. • Salary - $22,000 • Child support received - $6,000 • Alimony received - $10
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Answer:

$82000

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3 years ago
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