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3 years ago

Mar. 17 Received $275 from Shawn McNeely and wrote off the remainder owed of $1,000 as uncollectible.

Business

1 answer:

kogti [31]3 years ago

3 0

Answer: Please see the required journals below:

Mar. 17:

Debit Allowance for doubtful accounts $1,000

Credit Accounts receivable $1,000

July 29:

Debit Cash $1,000

Credit Bad debt recovery (income statement) $1,000

Explanation: On March 17, when $275 was received from Shawn and the remaining balance of $1,000 was written off, the allowance for doubtful accounts has to be debited since the company adopts the allowance method of accounting for uncollectible receivables. Note that the allowance account would have the required buffer to take care of this debit. Similarly, when the recovery was made, cash would be debited then the credit would default to income statement.

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Read the following except from a warranty. What time period is this warranty for? "This warranty is given by XYZ motors. The Zoo

ArbitrLikvidat [17]

Answer:

The warranty period is for three years.

Explanation:

A warranty is a promise a buyer receives from the seller that the latter will repair or replace the product should it develop defects within a stated period. Warranties are granted with specific conditions. The universal condition is that the defects in the product are a result of the manufacturing process and not the buyers' misuse. The defect must occur within a stated period.

In the case of XYZ, the stated period is three years. However, the seller has introduced another condition of "or 30,000 miles whichever comes first." For business reasons, and from market experience, the seller expects that XYZ will use the vehicle at an average rate of 10,000 miles per year. At this rate, the warranty will last for three years. Should the buyer use the vehicle at a faster rate than this, the 30,000 miles will be exhausted earlier, which will bring the warranty to an end. If XYZ uses the vehicle at a slower or the expected rate, the warranty will last for three years.

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2 years ago

Samantha works as a marketing manager for a cosmetics manufacturer. She plans to suggest a specific type of business model that

galina1969 [7]

A) Franchise is a business model Samantha have in mind.

Answer: A) Franchise

Explanation:

Franchise is the business model which is adopted by many business organisation for the purpose of business expansion. Where the other new business holders carry out the business using the company's procedure, brand name etc.

Under the same name and business line, the business is carried out by the new reciters and a amount of their profit is earned by the owner of the business. Here in this case Samantha is using Franchise business model.

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2 years ago

Read 2 more answers

Which of the following represents procurement as part of the support value activities in a value chain analysis?

ArbitrLikvidat [17]

Answer:

E. Purchasing inputs such as raw materials, resources, equipment and supplies

Explanation:

In business, Procurement is the process of acquiring goods/services in order to support operational activities.

It includes all the aspects related to a purchase: price ( estimates, biddings ) , payment terms, good specifications, quality, delivery, volumes, etc.

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3 years ago

If staff salaries were $44,000/month last year, and the yearly cost increase from last year to this year $108,000, what is the m

andre [41]

Answer:

The monthly labor cost this year=$53,000

Explanation:

Step 1: Determine yearly cost of labor last year

T=C×N

where;

T=total cost of labor last year

C=labor cost per month

N=number of months in a year

In our case;

T=unknown, to be determined

C=$44,000 per month

N=12 months

Replacing;

T=(44,000×12)=$528,000

Step 2: Determine yearly cost of labor this year

This years cost of labor can be expressed as;

Y=T+I

where;

Y=this year's labor cost

T=last years labor cost

I=the increase in cost from last year to this year

In our case;

Y=unknown to be determined

T=$528,000

I=$108,000

Replacing;

Y=(528,000+108,000)=$636,000

Step 3: Determine monthly cost of labor for this year

Monthly labor cost this year=this years labor cost/number of months in a year

where;

Monthly labor cost this year=unknown to be determined

this years labor cost=$636,000

number of months in a year=12

Replacing;

Monthly labor cost this year=(636,000/12)=$53,000

The monthly labor cost this year=$53,000

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3 years ago

Trevor's boss told him that he would now also be responsible for answering the phones and filing correspondence in addition to t

konstantin123 [22]

The responsibility for answering the phones and filing correspondence in addition to the tasks is an example of extension.

<h3>What is an extension?</h3>

An extension refers to doing an even wider range of tasks in addition to the tasks assigned.
Task switching is a sort of multitasking that involves switching between several abilities, tasks, or cognitive sets.
Multitasking is the practice of dividing one's attention among several skills, tasks, or cognitive sets.
The process of working as an extension involves interspersing and overlapping the execution of various programs. This is frequently accomplished by taking advantage of the discrepancy between a computer's quick processing power and its slower input/output devices.
If necessary, put off other chores so that one may focus entirely on the important ones when working as an extension.
In order to do the assignment on time, one may need to make wise choices, such as calling off a meeting. A good leader may change with the times and deviate from the norm to deal with the problems at hand.

To learn more about Multitasking refer to:

brainly.com/question/15503594

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1 year ago