Katrine doesn't understand all of the various aspects of automobile insurance and relies on her local independent State Farm Insurance agent to provide her with information. This agent acts as a(n) intermediary for State Farm.
The statement above is FALSE.
Loews conglomeration is into many businesses including hotels, insurance, watches, oil, gas, tobacco, etc. The diversification strategy of the company is to buy up firms that are in financial mess, turn them into profitable ventures and then sell them at a premium. They also diversified by investing into new business fields.
Answer:
Debit Bad debt expense $19,000
Credit Allowance for doubtful debt $19,000
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
Where a debit that had previously been determined to have gone bad gets settled, debit cash and credit bad debt expense.
Amount that may be uncollectible
= 4% * $600,000
= $24,000
Given that the Allowance for Doubtful Accounts has a $5,000 credit balance before adjustment, the additional amount to be adjusted for
= $24,000 - $5,000
= $19,000
Answer:
$11,009
Explanation:
Calculation to determine The amount due on the maturity date
Amount due =10900 x .06 x 1/6 = $109 + $ 10900
Amount due=$11,009
Therefore The amount due on the maturity date is $11,009
Answer:
a) true
Explanation:
Support Function include Information Technology, Human Resources, Finance and Marketing. These are there to ensure that conversion process is efficient by providing support services such as sourcing of talent, fund management, communication.
