Both external and internal customers help in the profitability and growth of an organization in a direct or indirect manner.
An external customer is someone who decides to spend money with a company because they enjoy the product or service. A business would not be in business without the support of the customer. These people are the reasons the business is successful and profitable. An internal customer is anyone within the organization that uses the good or service.
Answer:
EBIT
Explanation:
As of 2018 US Tax law limits the tax deduction for interest payments to 30 percent of EBIT.
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Answer:
The amount of Bad Debt Expense reported in 2019 was $16,100.
Explanation:
Our concern is mainly on the allowance for doubtful accounts. Based on the facts given in the question, the opening balance of the allowance account was $79,900 credit balance, while the closing balance was $96,000 credit. Since there were no write-offs or recoveries during 2019, the bad debt expense is simply the difference between the closing balance and the opening balance i.e, $96,000 - $79,900 = $16,100.
The journal entries will be:
Debit Bad debt expense $16,100
Credit Allowance for doubtful account $16,100
<em>(To record the bad debt expense for 2019) </em>
Answer:
The correct answer is A: $15,300
Explanation:
Giving the following information:
The only cost of Direct Material is Lumber used to build the product. If Insurance costs for factory Freight-in (on raw materials) were the Freight-in and not the insurance it will be included as well.
Direct material cost= $15,300
