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Dima020 [189]
2 years ago
14

GL Inc., a firm facing the threat of bankruptcy, did not want to be acquired by Red Phoenix Inc. because it would make drastic c

hanges to the business, laying off employees and changing the nature of its products and processes. Thus, the management of GL Inc. approached Fortium Inc., which was willing to acquire GL Inc. and maintain the company as is. In this scenario, Fortium Inc. is referred to as a:
Business
1 answer:
nasty-shy [4]2 years ago
5 0

Answer:

white knight

Explanation:

White knight -

It is a hostile and friendly takeover by the some company , is known as white knight .

where as , a black knight is type of unfriendly takeover .

Hence , white knight is preferred to be a hostile one than the black knight .

hence , from the question , In the given scenario , Fortium Inc. is referred to as a white knight .

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To pay for investment advice from financial consultants Smith and Jones, Tony signs a check payable to "Smith or Jones." A prope
DedPeter [7]

Answer:

to Smith only, or Jones only, or Smith and Jones

Explanation:

In this specific scenario, a proper indorsement of the check would be to Smith only, or Jones only, or Smith and Jones. That is because a check needs to be as specific as possible and cannot have various options. The check needs to be made to a single specific individual and if it is for more than one individual then both need to be included as a requirement (and). Making it so that both recipients must cash the check together for it to be accepted.

6 0
3 years ago
Johnson Company calculates its allowance for uncollectible accounts as 10% of its ending balance in gross accounts receivable. T
Margaret [11]

Answer:

<em>Incomplete question is "2. What journal entry should Johnson record to recognize bad debt expense for 2021? 3. Assume Johnson made no other adjustment of the allowance for uncollectible accounts during 2021. Determine the amount of accounts receivable written off during 2021 4. If Johnson instead used the direct write-off method, what would bad debt expense be for 2021?"</em>

1. Gross accounts Receivable = Allowance Account balance at beginning / 10%

= $30,000 / 10%

= $300,000

2.     Year   Account Title                              Debit     Credit

       2021  Bad debt expense                   $105,000

                  ($500,000*10% + $55,000)  

                         To Allowance for Doubtful Accounts   $105,000

3.  Accounts receivable written off = Beginning balance of Allowance Account - Ending Balance of Allowance account

= $30,000 - (- $50,000)

= $30,000 + $50,000

= $80,000

4. Bad debt expense for 2021 (direct write off method) = Amount written off = $80,000

4 0
2 years ago
The contingency theory of leadership assumed that there are two kinds of leaders: ________ and ________ leaders. future-oriented
tresset_1 [31]
The contingency theory of leader assumed that there are two kinds of leaders: TASK ORIENTED AND RELATIONSHIP ORIENTED LEADERS. A task oriented leader is one who is most concerned about getting jobs done than with the feeling of and relationship among his team. A relationship oriented leader is one who is primarily concerned with the feelings of his team members and their relationships with one another.
6 0
2 years ago
Assume that a country has a closed economy that has only three goods/services. That is, there is no trade with other countries,
postnew [5]

<u>Explanation:</u>

Given

Consumption = (10 x 30) = 300

Investment = (100 x 2) = 200

Government Spending = (500 x 1) =500

13. Total GDP for this economy = Consumption + Investment+ Government spending

=(10 x 30) + (100 x 2) + (500 x 1)

=$1000

14. Consumption % on GDP

= Consumption/ Total GDP x 100

=(300/1000) x 100

= 30%

15. Investment % in GDP

= Investment / Total GDP x 100

=(200/ 1000) x 100

=20%

16. Government spending % on GDP

=Government spending/ Total GDP x 100

=(500/1000) x 100

=50%

5 0
3 years ago
Cabot Company reported a pretax operating loss of $50,000 for financial reporting and tax purposes in 2018. The enacted tax rate
Nady [450]

Answer and Explanation:

1.

Net Operating loss carryback  Amount  Rate of Tax  Tax Recorded as

Carried back - 2014               $0.0          30%         $0.0  

Carried back - 2015               $0.0          30%         $0.0  

Carried back - 2016           $42,000        35% $14,700.0  

Carried back - 2017           $8,000.0       40% $3,200.0  

Total Carryback                 $50,000.0                    $17,900.0

Journal Entries - Cabot Company

Date                Particulars                                  Debit Credit

31-Dec-18      Receivables - Income Tax Refund  $17,900

          To Income tax benefit - Net Operating Loss           $17,900  

2. Cabot's net loss for 2018 = -$50,000 + $17,900

                                          = ($32,100)

5 0
3 years ago
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