Answer:
Don’t take ‘no’ for an answer
Learn from the best
Stay hungry and ambitious
Never stand still; evolve with the times
Nurture long-term business relationships
Inspire those around you
Trust your gut instinct, not just your spreadsheet
Explanation:
It takes hard work and dedication and they are many free sources that is available today such as videos
Risk evaluation involves rating the risks that may happen based on the likelihood of them happening. Risk evaluation also involves rating these potential happenings based on the impact they could have on the business. Evaluating risk is a step in the creative process of risk management.
From the information given, the balance that will be in the capital account of Thurman at the end of the second year will be $132860.
The partners account at the end of the second year for Thurman will be calculated thus:
- Beginning capital = $126100
- Add: Net income = $19760
- Less: Drawings = $13000
Therefore, the balance in the account will be $132860.
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Answer:
Design
Explanation:
In Simon model of decision making process there are four phases
• Intelligence
• Design
• Choice
• Implementation
- Intelligence phase: In this phase problem, situation and opportunity is being identified. The variable is identified which impacts the decision.
It is based on the objective of organization and project
- Design phase: This is the phase in which a model for decision is being created. It is done by identifying relation between the variable of decision-making process. Their relationship is established and then model is constructed. Based on the model various alternative of decision is created. The outcome for each decision option is also predicted and
- Choice phase: Based on model prepared by design phase. Various alternative of decision is created. In this phase the best decision is chosen which helps in attaining the objective most productively.
- Implementation phase: based on choice made. The action and activities of the decision is applied to situation or the opportunity.
In the problem defined the phase which is being discussed is one in which criteria of decision , alternative for meeting and relationship between choice and criteria is evaluated which corresponds to design phase as discussed in the above model.
Answer: The adjusting entry would be: Debit Bad debt expense $24,380; Credit Allowance for doubtful accounts $24,380.
Explanation: Since aging of the accounts receivable shows that 7% approximately of the outstanding receivable of $374,000 will be uncollectible. It then means $26,180 (7%*$374,000) will be uncollectible. Meanwhile, Tanning Company already has a credit balance of $1,800 in the allowance for doubtful accounts, therefore, an adjustment of $24,380 ($$2,180 - $1,800) has to be made.
