The first step is determining what knowledge is most important. the control function involves measuring performance relative to the planned objectives and standards, rewarding people for well work done, and then taking corrective action when necessary.
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Answer:
Explanation:
The journal entry will be:
Debit: Bad debt expense $2500
Credit: Allowance for doubtful $2500
Then, we will calculate the net amount of account receivable that should be included in current assets which will be:
Account receivable = $128000
Less: Allowance for doubtful = $500 + $2500 = $3000
Net amount of account receivable = $125000
Answer:
Type A to produce 44 bags and Type B to produce 16 bags to maximize profit of $440
Explanation:
Let X be the number of bags for Type A and Y be the number of bags for Type B
Cutter Finisher
Type A 2X 1X = $6X
Type B <u> 1Y 2Y = $11Y</u>
104 76
2x+1y= 104
1x+2y=76
y= 104-2x
x+2(104-2x) = 76
x+ 208-4x = 76
132= 3x
x= 44 bags
y= 104-2(44)
y= 16 bags
Type A should produce 44 bags and Type B 16 bags to maximize profit
Maximum Profit = 6X + 11Y
= 6(44) + 11(16)
= $440
<span>The given data shows that Watson Enterprises signed a $24,000, 60-day, 4% note payable as replacement of an account payable with Erikson Company. Below are the journal entries that should be recorded upon signing the note:
1.Debit Accounts Payable $24,000
2.credit Notes Payable $24,000.</span>
