Answer:
c) credit to Accounts Receivable - ZRT.
f) debit to Allowance for Doubtful Accounts.
Explanation:
As for the information provided,
We know in allowance method, provision is created as and when there are doubtful debts, for which entry is
Bad Debts Expense Account Dr.
To Allowance for doubtful debts.
And when the bad debts are actually written off then,
The entry will reduce the balance of accounts receivables and that of allowance as well.
Entry will be:
Allowance for Doubtful debts A/c Dr.
To Accounts Receivables.
Thus, correct options shall be:
Option c) and f)
Answer: The net realizable value is the maximum value that can be achieved with the sale of the asset, discounting the costs associated with it.
The net realizable value (NRV) of accounts receivable would be:
NRV = Accounts Receivable - Allowance for Uncollectible Accounts
NRV = $ 62,500 - $ 6,200
NRV = $ 56,300
Answer: $2,250
Explanation:
The Tax-Payer uses a cash-basis. This means that they recognize revenue or expenses only when they are actually paid as opposed to an Accrual basis entity that recognizes revenue or expenses when it is incurred.
As the Cash-Basis taxpayer is the majority shareholder of the company, Stone may not deduct the amount from income until they have paid the tax payer because tax regulations state that when an Accrual Basis entity owes a majority owner who uses the Cash basis, they may not recognize the deduction until they have paid the owner.
In year 2 they paid ½ of the rent which is,
= 4,500/2
= $2,250
They can therefore only deduct $2,250 in Year 2.
Answer:
Human resource management
Explanation:
Human resource management (HRM) process includes the following:
- recruiting, selecting, and inducting new employees,
- providing orientation, training and development,
- appraising the performance of employees,
- deciding compensation and providing benefits,
- motivating employees,
- maintaining proper relations with employees and their trade unions,
- ensuring employees safety, welfare and health in compliance with labor laws.
Answer:
c. -3.07
Explanation:
price elasticity of demand = % change in quantity demanded / % change in price
- % change in quantity demanded = (27,000 - 20,000) / 20,000 = 0.35 = 35%
- % change in price = (45,000 - $50,800) / $50,800 = -0.114 = 11.4%
price elasticity of demand = 35% / -11.4% = -3.07 or |3.07| in absolute terms
since the price elasticity is higher than |1|, then it is price elastic, which means that a 1% change in price will change the quantity demand in a higher proportion.
