Answer:
Debit Bad debt expense account
Credit Accounts receivable
Being entries to account for uncollectible debts
Explanation:
Under the allowance method, when the organization estimates that there is a probability that a receivable may not be collectible, the entries posted are
Dr Bad debt expense account (P/L)
Cr Allowance for doubtful debt (B/S)
Where it has been determined that the debts are uncollectible (and no previous allowance had been made), the entries posted are;
Dr Bad debt expense account
Cr Accounts receivable
Answer:
C. Chief information officer (CIO)
Explanation:
Based on the information provided within the question it can be said that the role within a company that is responsible for this is the Chief Information Officer (CIO). This is an executive job title, in which the individual in this position is in charge of the IT strategies being implemented as well as the unique objectives and goals of the management information system.
Answer:
$53,000,000
Explanation:
The amount of dividends paid by Del-Castillo Inc. can be ascertained using the retained earnings formula as follows:
retained earnings=net income+previous year retained earnings-dividends paid
retained earnings for current year is $960 million
net income is $70 million
previous year retained earnings were $943 million
dividends paid is unknown
dividends=net income+previous year retained earnings-current year retained earnings
dividends=$70 million+$943 million-$960 million
dividends=$53 million
Answer:
A. Contribution margin increases and Break-even point decreases
Explanation:
Answer:
Wage rate is $5
Explanation:
The marginal utility of money=marginal utility of leisure/wage rate
When the formula is rearranged,wage rate is given thus:
wage rate=marginal utility of leisure/marginal utility of money
wage rate=15/3
wage rate =$5
In other words, the correct option is C,wage rate is $5
Option D would have been correct if the requirement was to calculate marinal utility of leisure