Answer:
The adjusting entry to needed to update Crimson Inc.’s books is:
Debit Bad debt expense $35,000
Credit Allowance for doubtful accounts $35,000
<em>(To record bad debt expense)</em>
Explanation:
Crimson Inc. uses the credit risk loss percentage in estimating the amount of accounts receivable that is uncollectible. This approach is similar to the aging method. We would calculate the estimated uncollectible amount as follows:
Debtor Estimated Percent Uncollectible amount
James $50,000 20% $10,000
Fred $64,000 10% $6,400
Bernie $36,000 10% $3,600
Terry $50,000 10% $5,000
Total $200,000 $25,000
If the balance in the allowance for doubtful accounts has a debit balance of $10,000 then Bad debt expense will be $25,000 + $10,000 = $35,000. The required adjustment is as recorded above.
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Answer:
13. Charlie would be excluded for cause;
14. the plaintiff provides proof only up to the level of “clear and convincing,” Casey can still be acquitted.
Explanation:
Since it was realised that Charlie has a relationship with on of the parties summoned for a case, this will lead to Charlie been removed and excluded for cause. This is because it is believed that due to the fact that he has a relationship with the person, there may be bias which may lead to a false outcome regarding the case.
For the second question, Cash can be acquitted if there's proof which is provided by the plaintiff and the proof is clear enough and convincing.
Answer:
A. A multi-country strategy is generally superior to a global strategy.
Explanation:
Foreign countries are the countries that are established in a foreign. Each and every foreign country has different consumer preference, buying power, taste and preferences.
Also there are no fixed exchanged rates plus the designs of the product are not fixed for another country as it depends on the customer demand which type of product they needed. Moreover, the growth rate is also different in different countries
Hence, option A is correct
Answer:
$21,800
Explanation:
The computation of 4-year revenue is as shown below:-
Bond Income of 4th Year = Face amount × Bond × 1 ÷ 2
= $500,000 × 8% × 1 ÷ 2
= $20,000
Interest Revenue = Bond Income + Amount of Discount Amortized
= $20,000 + $1,800
= $21,800
Therefore for computing the interest revenue we simply bond income with the amount of discount amortized.
