Answer:
a. Debit Allowance for doubtful debt $4,398
Credit Accounts receivable $4,398
Being entries to write off receivable due from Madonna Inc.
b. $739,480 before and after the write-off
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.
The realizable value of accounts receivable before the write off is the net of the accounts receivable and the allowance for doubtful debt
= $762,000 - $22,520
= $739,480
This amount remains the same after the write off as the write off will reduce the balances in both the allowance for doubtful debt account and accounts receivable.
Answer: Option D
Explanation: In simple words, short run refers to the time frame in which all the factors of production are fixed while in the long run all of them are variable.
This happens due to the fact that in the short run if the company goes for changing the level of inputs than the opportunity that were availing in that time period will be gone by then leading to losses as the total time frame is very less in short run.
On the other hand, firms tends to have greater life in the market and keeps developing themselves with the changing forces of market.
Answer:
Debt ratio = 3 : 1
Explanation:
Asset = Capital
Capital = Debt + Equity
I.e Asset = Debt + Equity
1400 = D + 350
D = 1050
Debt ratio = Debt / Equity
Debt ratio = 1050/350
Debt ratio = 3 : 1
Answer:
Letter D is correct. <u>Value-based.</u>
Explanation:
Josef exercises value-based leadership. This means a leadership style focused on using each individual's values and beliefs to guide and motivate.
When a leader adopts a leadership philosophy aimed at incorporating team values rather than his or her own individual values, this creates a greater sense of identification and appreciation of the actions proposed by the leader.
The greatest benefits seen from value-based leadership are increased reliability, motivation, relationship building, productivity, and others.
It's a federal tax in the U.S. that must be paid by both employees and employers in order to fund both Social Secrity and Medicare. Hope this helps.
