I think the correct answer from the choices listed above is option A. Gross National Product or GNP is used by economists in place with GDP. Gross National Product is an expression used to measure economic growth and wealth. It includes the value of all goods and services in a given period of time.
I think for this item, it will be acceptable if we suggest that the branch manager's salary would be increased. It is through him/her and the dedication of the team members that the sales are very high. If the salary is not increased then, the manager and the team should be compensated for the job well done.
Answer:
$844,000
Explanation:
Given that,
Accounts Receivable = $900,000
Credit balance of Allowance for Doubtful Accounts per books before adjustment = $50,000
Expected amount of uncollectible = $56,000
Bad debt expense at the end of the period is determined by subtracting the credit balance of allowance for doubtful accounts from the expected amount of uncollectible.
Bad debt expense:
= Expected amount of uncollectible - Credit balance
= $56,000 - $50,000
= $6,000
At the end of the period, the allowance for doubtful accounts has a balance of $56,000 that are to be uncollectible.
The cash realizable value of the accounts receivable at December 31, after adjustment, is determined by simply subtracting the Allowance for doubtful accounts from the accounts receivable. It is calculated as follows:
= Accounts Receivable - Allowance for doubtful accounts
= $900,000 - $56,000
= $844,000
Answer:
$31. 15
Explanation:
From the question we are required to find the new stock price considering that no market imperfections or tax effects exist.
stock dividend = 22 percent
Amount per share = $38
At a a stock dividend of 22 percent, new share price would be
= $38(1 / 1.22)
= $31.15
Answer: The correct answer is "(A) Debit Accounts Receivable and credit Cash for $560".
Explanation: The non-existent 560 must be adjusted in the cash account, and the 560 receivable must be added to the third party that issued the check in the "accounts receivable" account.
The entry would be:
--------------------------------- . ------------------------------------------
Accounts Receivable 560
Cash 560
--------------------------------- . --------------------------------------------
