Let us assume that the company Taylor Industries bought merchandise from X company. Taylor Industries will record Accounts Payable while X company will record Accounts Receivable.
Since Taylor Industries will no longer be able to pay off its Account Receivable, X company will have to write off the Accounts Receivable. Writing off Accounts Receivable can be done in two ways.
1) Allowance method:
Bad Debt Expense xxxxx
Allowance for Doubtful accounts xxxxx
Writing Off Bad Debt:
Allowance for Doubtful Accounts xxxxx
Accounts Receivable xxxxx
2) Direct Write-off method.
Bad Debt Expense xxxxx
Accounts Receivable xxxxx
In the books of Taylor Industries, it must recognize the cancellation of the Accounts Payable from the transaction with X company.
Accounts Payable xxxxx
Other Income xxxxx
Answer:
B) offer grants to university researchers
Explanation:
Positive externality is when the benefits of economic activities to third parties exceeds its costs.
Research and development activities usually generate positive externality because discoveries and inventions are made which benefits the whole society.
Also, education generates positive externality .
Government can encourage activities that generates positive externality by giving grants and subsidies.
Giving grants and subsidies reduces the cost of activities.
Taxes increases the cost of production and this can discourage production.
It is activities that generate negative externality that are usually taxed.
Negative externality is when the benefits of economic activities to third parties is less than the cost.
The correct answer is <span>a contract for the sale of a dining room set.
</span>The Uniform Commercial Code (UCC) attempt to provide a framework of rules to deal with all aspects of commercial sales transactions of tangible goods such as the dining set listed among the four options.
The correct answer to this open question is the following.
Although there are no options attached, we can comment on the following.
The criteria that a human resource manager should consider about job applicants are the following.
1.- Technical expertise in their fields.
Candidates must show they have the experience for the position they are applying for.
2.- Accountability.
Managers should prove that candidates are responsible people and own the consequences of their decisions and actions.
3.- Commitment.
Managers have to realize that candidates are willing and able to show appreciation and commitment to the company. Their work must be a priority and should be dedicated to it.
4.- Communication.
Employees should show their communications abilities and capacity to accept criticism.
Answer: $26.48
Explanation:
The total cost of producing 2,000 units of Job 434 is;
= Direct materials + Direct labor cost + Manufacturing overhead cost
= 41,000 + (620 hours * 13 ) + ( 10 * 390 hours)
= $52,960
Unit product cost:
= total cost/ no. of units
= 52,960/ 2,000
= $26.48
