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Sedaia [141]
3 years ago
13

Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $2

,800 uncollectible account of its customer, A. Hopkins. The entry or entries Gideon makes to record the write off of the account on May 3 is:
Business
1 answer:
Natali5045456 [20]3 years ago
6 0

Answer:

Journal Entry

May 3

Dr. Allowance for doubtful accounts   $2,800

Cr. Account Receivable                        $2,800

Explanation:

When a receivable of the business is considered to be non-collectible from a customer, it is written off from the accounts. This event will decrease the account receivable balance and allowance for the doubtful accounts too. a Debit entry in the Allowance for doubtful account and a credit entry in accounts receivable is made to incorporate the effect of this transaction.

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In its first month of operations, Windsor, Inc. made three purchases of merchandise in the following sequence: (1) 400 units at
mart [117]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Windsor, Inc. made three purchases of merchandise in the following sequence:

(1) 400 units at $5,

(2) 500 units at $7

(3) 600 units at $8.

Total units= 1,500

Assuming there are 300 units on hand at the end of the period, compute the cost of the ending inventory.

A) FIFO (first-in, first-out)

Inventory= 300*8= $2,400

B)LIFO (last-in, first-out)

Inventory= 300*5= $1,500

6 0
3 years ago
To what extent do stakeholders influence a plan and subsequent implementation of organization restructuring that accommodates ch
nydimaria [60]

Answer: None of the above

Explanation:

None of the options seem to be correct.

Stakeholder is the people who are interested in the the decision made by an organization. When a change takes place in an organization, the stakeholders are affected by such change. Stakeholders include board, managers, shareholders, workers etc.

The first option is wrong as stakeholders are incidental to the change process. They're always ever present in the change process.

The second option is wrong as well. Some stakeholders are decision makers and can influence the potential outcome of organizational restructuring. e.g board etc.

The third option is also incorrect. This is because stakeholder expertise in managing change should be considered by change leaders in the planning of adaptable organizational structures. Some stakeholders are expertise in change management and their knowledge is needed when there is planning of adaptable organizational structures.

That means we're left with only the Fourth option which is the right answer.

8 0
3 years ago
When Carolina is in the grocery store buying milk for her children, she picks up a tube of toothpaste at the same time. The toot
yKpoI14uk [10]

A relatively inexpensive item that merits little shopping effort, is called Convenience product.

<h3>What is the Product?</h3><h3></h3>

Product refers to the finished goods or the material that has been converted from the raw material to fulfill the needs of the customer. There are four types of product i.e. convenience goods, shopping goods, specialty products, and unsought goods.

Convenience product is that type of the product which can be purchased with the minimal efforts because it is cheap in value and can be purchased frequently.

In the above case, Carolina picks up the toothpaste which is the example of the Convenience product.

Learn more about Convenience product here:

brainly.com/question/7184191

#SPJ1

7 0
2 years ago
What corporation provided a grant to fund a program in the 1980s to expose young people to capitalism through FBLA?
sergij07 [2.7K]
<span>Future Business Leaders of America (FBLA) is a non-profit organization that helps students for their careers. The Chevron Corporation provided a grant to fund a program called "Getting Involved" in the 1980s to expose young people to capitalism through Future Business Leaders of America.</span>
6 0
3 years ago
Read 2 more answers
Harvey Rabbitt pays for monthly cable TV service. Last​ week, the cable company informed Harvey that his monthly cable price wou
hichkok12 [17]

Answer:

The company pass from monopoly to a competitive market.

The new companies increase the supply and therefore, the equilibrium price decreases.

Explanation:

The approval of new cable companies generates an increase in the supply. As the suply shift to the right the quantity (people wiht a monthly cable service) will increase and the price (monthly fee) decrease.

Harvey's Company is already starting to decrease his price to do an effort to retain his customer. This company is no longer a monopoly so it will decrease price to be more competitive.

8 0
3 years ago
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