Answer:
The answer should be the last part of the B option .- Selecting the course of action most likely to lead to success.
Explanation:
The four basic functions of management are:
- planning
- organizing
- leading
- controlling
Planning is the most basic and fundamental activity of management. Management starts by planning ahead what is your vision of the organization and how it should be structured. When you plan you prepare yourself in advance for the future.
It all depends on the subject(s) that you will teach and at what level you will teach.
Answer: Selling large dollar-value items
Lending money to individuals or businesses
Extending payment periods
Explanation:
Answer:
lower, higher
Explanation:
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Answer:
The required adjusting entry to record estimated bad debts expense is as follows:
Debit Bad Debts Accounts with $39,960
Credit Allowance for Doubtful Accounts with $39,960
Being the adjustment to bring the Allowance for Doubtful Accounts up a new credit balance of $43,625.
Explanation:
The Allowance for Doubtful Accounts had a credit balance of $3,665. Since management had estimated that $43,625 of the Accounts Receivable balance would be uncollectible, this means that the difference $39,960 ($43,625 - $3,665) would be the adjusting amount to bring the balance up-to-date.
Remember that the Allowance for Doubtful Accounts is a contra account to the Accounts Receivable. It is used to reduce the balance of the Accounts Receivable based on collectibility judgement or estimate which management makes out of experience. The balance in this account is, therefore d,educted from the Accounts Receivable in the Balance Sheet in order to obtain the net Accounts Receivable balance.
The account that expenses the increase in this account is the Bad Debts Expense Account, which is taken to the Income Statement to reduce the income.
