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BabaBlast [244]
3 years ago
6

Stephanie Roe utilizes the direct write-off method of accounting for uncollectible receivables. On September 15, she is notified

by the attorneys for Jacob Marley that Jacob Marley is bankrupt and no cash is expected in the liquidation of Jacob Marley. Write off the $4,970 of accounts receivable due from Jacob Marley.
Business
1 answer:
Iteru [2.4K]3 years ago
5 0

Answer:

Dr Bad Debts $4,970

Cr Accounts Receivables $4,970

Explanation:

The bad debts are confirmed and once it is confirmed it is written off by decreasing the accounts receivables by the amount as the amount is not now receivable and increase the bad debt expense because this is cost to the company. The bad debts confirmed are accounted for as under:

Dr Bad Debts $4,970

Cr Accounts Receivables $4,970

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Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to
gladu [14]

Answer:

OASDI maximum amount in any financial do change but for the year 2020, the OASDI limit is $137,700

if Carson is getting $2,700 each week

Carson will hit the OASDI limit in   ($137,700/$2,700) weeks = 51 weeks.

Explanation:

6 0
3 years ago
These are selected account balances on December 31, 2020. Land (location of the office building) $97000 Land (held for future us
Artyom0805 [142]

Answer:

$937,000

Explanation:

Calculation to determine the total net amount of property, plant, and equipment that will appear on the balance sheet

Land (location of the office building) $97000

Add Office Building 675000

Add Equipment 457000

Add Office Furniture 135000

Less Accumulated Depreciation (427000 )

Total Net Amount $937,000

Therefore the total net amount of property, plant, and equipment that will appear on the balance sheet is $937,000

4 0
2 years ago
Explain one benefit to a business of using crowd funding as a source of finance
Anna35 [415]

Answer:

Explanation:

Crowdfunding can be regarded as a way in which businesses can raise funds through the contribution of large number of people to the project.

SPEED AND ACCESSIBILITY

Crowdfunding helps the entrepreneur/ Businesses to get the necessary capital without passing through arduous process involving in loan collection, and this is good for small and medium companies that doesn't have enough creditworthiness in taking loan. As far as crowdfunding is concerned, no special qualifications involved in starting a crowdfunding campaign, within some hours ones page can be outlined and make visible to crowdfunding platform’s audience. There is no hunt down of specific venture capitalists.

4 0
2 years ago
Find the present value pv of the given investment. an investment earns 2% per year and is worth $40,000 after 8 years.
LuckyWell [14K]
First use the formula of the future value of an annuity ordinary to find the yearly payments
Fv=pmt [(1+r)^(n)-1)÷r]
Fv future value 40000
PMT yearly payment?
R interest rate 0.02
N time 8 years
Solve the formula for PMT
PMT=Fv÷[(1+r)^(n)-1)÷r]
PMT=40,000÷(((1+0.02)^(8)−1)
÷(0.02))
=4,660.39

Now use the formula of the present value of an annuity ordinary to find the present value
Pv=pmt [(1-(1+r)^(-n))÷r]
PV present value?
PMT yearly payments 4660.39
R interest rate 0.02
N time 8 years
Pv=4,660.39×((1−(1+0.02)^(−8))÷(0.02))
pv=34,139.60. ....answer
5 0
3 years ago
In the context of operations management, which of the following is true of the transformation process
Fed [463]

Answer:

A transformational process is a process by which we achieve lower costs, increased efficiency or level of output, higher quality of product, anything that brings competitive advantages over rivals.

So this means that Transformational process doesn't includes lowering product quality and efficiency or output.

Option 1 is incorrect because it talks about increasing production by decreasing product quality.

Option 3 is also incorrect because it talks about increasing inefficiency. Remember: Efficiency is increasing output at a set level of input.

Option 4 is also incorrect because transformational process doesn't includes the selling of inputs. Inputs are raw material, labor hours, overhead cost, etc these are not sold by any companies. However their is a possibility that semi finished goods are sold to other companies like Apple purchased Mobile displays from Samsung to meet its customer demand.

But its impossible to sell its labor, raw material which is readily available in the market.

Option 5 is also incorrect because corrective actions are taken when there is something going wrong. When the level of output is increasing from the desired output level it means its an achievement. So this is not correct option.

Option 2 is correct because conversion of inputs into ideas or products will result in competitive advantage. For example, Mercedes first time in the history introduced two door car. This helped Mercedes to lower its material cost sufficiently and Price of the car as well. As a result this increased its sales due to lower prices charged.

Transformational Processes includes activities of converting your resources into more efficient assets which is reflected in this option.

7 0
3 years ago
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