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Vanyuwa [196]
2 years ago
6

The Accounts Receivable balance for Lake​, Inc. at December​ 31, 2017​, was $ 20 comma 000. During 2018​, Lake earned revenue of

$ 454 comma 000 on account and collected $ 325 comma 000 on account. Lake wrote off $ 5 comma 600 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 5​% of accounts receivable. Read the requirementsRequirement 1. Assume Lake had an unadjusted $ 2 comma 700 credit balance in Allowance for Bad Debts at December ​31, 2018. Journalize Lake​'s December ​31, 2018​, adjustment to record bad debts expense using the​ percent-of-receivables method.
Business
1 answer:
elena-s [515]2 years ago
3 0

Answer:

The required journals are:

Debit Bad debt expense                                          $10,070

Credit Allowance for doubtful accounts                 $10,070

<em>(To record bad debt for the year)</em>

Explanation:

To understand the effects of the transactions, we need to journalize as follows:

Debit Accounts receivable                                    $454,000

Credit Sales revenue                                             $454,000

<em>(To record sales transaction on account)</em>

Debit Cash                                                             $325,000

Credit Accounts receivable                                  $325,000

<em>(To record collections on account)</em>

Debit Allowance for doubtful accounts                   $5,600

Credit Accounts receivable                                     $5,600

<em>(To record write-off of accounts receivable)</em>

With the above journals, the balance in accounts receivable will be: $20,000 + $454,000 - $325,000 - $5,600 = $143,400. The 5% of $143,400 will be $7,170.

The effect of the write-off was to throw the unadjusted allowance for doubtful account into debit as $2,700 - $5,600 = $2,900. The required bad debt expense will $10,070 ($7,170 + $2,900).

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Given the following cost and activity observations for Smithson Company’s utilities, use the high-low method to calculate Smiths
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Answer:

c. $1,600

Explanation:

Using high low method we have

Highest cost = $75,000 for 29,000 hours in the month of February.

Lowest Cost = $52,200 for 20,000 hours in the month of January.

Variable Cost per unit = \frac{Change \: in \: cost}{Change \: in \: hours} = \frac{75,000 - 52,200}{29,000 - 20,000}  = $2.533

Or

$52,200 = 20,000 V + F

$75,000 = 29,000 V + F

$22,800 = 9,000 V

$2.53 = V

20,000 V = $50,600

$52,200 - $50,600 = $1,600

Fixed Cost = $1,600

7 0
3 years ago
Kasey changes jobs on a regular basis. She does this to secure better career growth opportunities and to decrease boredom. Kasey
topjm [15]

Answer:

The correct answer is letter "C": job hopping.

Explanation:

Job hopping refers to the act by which employees change from jobs frequently to avoid the boredom of working in the same place during long periods. Typically, this practice is repeated every one or two years and could be exercised when better job opportunities arise in the way.

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Which of the following bank services pays the customer compound interest?
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Based on the given question above, the correct answer for this would be option C. The bank service that pays the customer compound interest is a saving account. <span>A </span>savings account<span> is an interest-bearing deposit </span>account<span> held at a </span><span>bank. Hope this is the answer that you are looking for. Have a great day!</span>
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The use of anthropological techniques to study businesses and what some people call organizational culture in order to assist th
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The use of anthropological techniques to study businesses and what some people call an organizational culture to assist the business is most specifically an example of applied anthropology.

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Applied anthropologists use anthropological concepts and methodologies to address issues in the real world. For instance, they might assist in resolving environmental, educational, or health-related issues in local communities. They might also assist with historical interpretation in museums, national parks, or state parks.

How is anthropology used in organizational behavior?

Understanding what works and what doesn't, how individuals use technology and tools in their daily work, and how employees get meaning from their jobs are all made easier by an anthropological perspective on organizational behavior. A possibility to genuinely understand what is happening and why in an organization is provided by business anthropology.

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4 0
1 year ago
From theory, what are some communication channels and barriers? Now from professional experiences, what are some communication c
Ira Lisetskai [31]

Answer:

Communication channels are the channels with which information are passed from one to person to another. Messages and ideas are exchanged using these channels to complete the communication process.

Explanation:

Types of communication channels are:

Email

Social media

TelephoneTelevision

Radio

Face-to-face communication

Oral and written communication

Verbal and non-verbal communication.

Communication can be through the use of words or without words, such as the use of signs and gestures. Communication can take place physical and otherwise.

Barriers in communication this are the things that create disturbances in sent messages and thereby causing a misunderstanding between the sender and receiver.

Barriers are:

Poor communication skills: when an individual communication skill is weak, such individual lacks the confidence to communicate effectively in front of others.

Noise disturbance: Noise disturbance is a barrier that hampers the clarity of a message.

Language barriers: The language barrier occurs when there is diversity in an organization workforce. languages or accents differ fromLanguage to language same as cultures.

Perception differences: This occurs when the senders point of view and receivers doesn’t match up which results in lack of understanding.

Wrong pronunciation of words and poor usage of vocabulary: By not pronouncing words accurately and correctly, wrong message might be passed.

the communication channels in a professional settings are:

Formal communication: the use of written letters and e-mails to colleagues, senior management, or the exchange of thoughts through official presentations before board members.

Informal communication: this kind of message channel exist between acquittances people we are familiar with. Any style and words not suitable in formal communication mode can be used here.

Barriers at the professional level are:

Organizational Hierarchy: due to the long chain of hierarchy or it passes through this alters the original message.

Lack of knowledge of non-verbal communication: Body language, gestures and postures are essential factors of communication as a wrong gestures and postures communicate false messages.

Low confidence level: For am individual to be able face a crowd and pass effective communication he needs his confidence level high.

Clarity in the message: The message been passed must be clear, concise and simple. Free of grammatical and spelling errors.

High confidence level: a confident speakers communicates easily, which his message easy to grasp and understand.

Feedback: for a communication process to be complete the receiver must give a feedback.

Good communication skills:

1. Practicing like they say practice makes perfect.

2. Proper pronunciation of words.

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