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Vlad [161]
3 years ago
15

Suppose a firm that makes appliances merges with a company that produces running shoes, and it later also buys a dairy. what is

this combination called?
Business
1 answer:
PolarNik [594]3 years ago
6 0

This combination is called CONGLOMERATE MERGER. A conglomerate merger is the unification between firms or companies that are involved in business activities that are no way related to each other. The two types of conglomerate merger are PURE AND MIXED. Pure conglomerate involves companies with nothing in similarity. Whereas for mixed conglomerate, it involves companies that are looking for product or market extensions. 

 

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Johnson Company calculates its allowance for uncollectible accounts as 10% of its ending balance in gross accounts receivable. T
Margaret [11]

Answer:

<em>Incomplete question is "2. What journal entry should Johnson record to recognize bad debt expense for 2021? 3. Assume Johnson made no other adjustment of the allowance for uncollectible accounts during 2021. Determine the amount of accounts receivable written off during 2021 4. If Johnson instead used the direct write-off method, what would bad debt expense be for 2021?"</em>

1. Gross accounts Receivable = Allowance Account balance at beginning / 10%

= $30,000 / 10%

= $300,000

2.     Year   Account Title                              Debit     Credit

       2021  Bad debt expense                   $105,000

                  ($500,000*10% + $55,000)  

                         To Allowance for Doubtful Accounts   $105,000

3.  Accounts receivable written off = Beginning balance of Allowance Account - Ending Balance of Allowance account

= $30,000 - (- $50,000)

= $30,000 + $50,000

= $80,000

4. Bad debt expense for 2021 (direct write off method) = Amount written off = $80,000

4 0
2 years ago
During the second quarter of the year, Wallace Enterprises received $30,000 from customers in exchange for providing electronic
SSSSS [86.1K]

Answer:

On an income statement, the company would declare c. $21,000 expenses

Explanation:

Wallace Enterprises received $30,000 from customers in exchange for providing electronic components. Income from the exchange was $30,000

During the second quarter of the year, total expense = supplies expense + interest expenses + wages expense = $5,000 + $1,000 + $15,000 = $21,000

Income from the exchange - total expense = $30,000 - $21,000 = $9,000>0

The company recognizes gain $9,000.

On an income statement, the company would declare $21,000 expenses

5 0
2 years ago
Selma deposited a paycheck for $378.42. she’ll use the check register to record her transaction. What will be her new balance?
stepladder [879]

Selma’s new balance will be $378.42. A paycheck also known as a pay check or pay cheque, is a paper document issued by an employer to pay an employee for services rendered. However, the physical paycheck is increasingly being replaced by electronic direct deposits to the employee's designated bank account or loaded onto a payroll card.

Employees may still receive a pay slip detailing the final payment amount calculations. A salary statement, also known as a payslip, pay stub, paystub, pay advice, or sometimes paycheck stub or wage slip, is a document received by an employee that either includes or is attached to the paycheck.

Each country has laws governing what information must be included on a payslip .

To learn more about paycheck, click here

brainly.com/question/8657860

#SPJ4

5 0
2 years ago
Le Jouet is a profit-maximizing firm that produces toy trains. In France, its home country, it enjoys unchallenged market power
marysya [2.9K]

Answer:

The demand that Le Jouet faces for toy trains in France is less elastic than in Russia.

Explanation:

This is the statement that best describes the panorama that Le Jouet faces in France. When comparing the markets of France and Russia, we learn that the demand for toy trains in France is less elastic than the demand in Russia. Price elasticity refers to a measure of responsiveness of consumers. This measures how responsive consumers are to a price change.

6 0
3 years ago
Which of the following are required by the Sarbanes-Oxley Act?
Taya2010 [7]

Answer:

a. a report on internal control

Explanation:

the sarbanes-oxley act was passed in 2002. This law serves to help protect investors and the public from fraud while giving financial reports by corporations. It was sponsored by Senator Paul Sarbanes and Representative Michael Oxley. This legislation is to help improve the reliability of corporations financial reporting as well as to help improve the confidence of shareholders and investors.

<u>This</u><u> </u><u>act</u><u> </u><u>requires</u><u> </u><u>a</u><u> </u><u>repo</u><u>rt</u><u> </u><u>on</u><u> </u><u>interna</u><u>l</u><u> </u><u>control</u><u>.</u>

5 0
3 years ago
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