Answer:
Dr Bad Debt Expense 16,120
Cr Allowance for Uncollectible Accounts 16,120
Explanation:
Based on the information given we were told that the company provides services of the amount of $255,000 in which the cash collections on the accounts was the amount of $131,000 and 13% of accounts receivable will be uncollectible which means that the adjusting Journal entry for uncollectible accounts on December 31, 2021 will be :
Preparation of the adjusting Journal entry for uncollectible accounts on December 31, 2021.
December 31,2021
Dr Bad Debt Expense 16,120
Cr Allowance for Uncollectible Accounts 16,120
[($255,000-$131,000)*13%]
$124,000*13%
=$16,120
Answer: a. rise, the supply of bread to decrease, and the demand for potatoes to increase.
Explanation:
According to the Economic law of SUPPLY AND DEMAND, less supply means HIGHER prices simply because the good is becoming scarce not unlike fuel during global oil shortages.
Now, we are told that the drought reduced the supply for wheat which means the SUPPLY of wheat has DECREASED and this will translate to the SUPPLY of Bread DECREASING as well. According to the aforementioned law, prices of Bread will therefore RISE.
Since Bread prices have risen, people will seek alternatives to bread as they may not want to pay the high price. This will lead them to choosing the alternative to bread which in this case are Potatoes which would therefore INCREASE the DEMAND for potatoes.
Answer: Option C
Explanation: In simple words, 360-degree feedback refers to the feedback process in which an employee receives feedback from not just its superiors but from his or her peers, subordinates and customers also. Even sometimes self evaluation is also taken into consideration.
Such process provides a clear picture of how an employee perceives themselves and what is their image in the eyes of other related parties. These processes helps an individual employee to understand their strength and weaknesses and it also provides insight for their personal development.
Answer:
Direct material cost and Direct labor cost.
Explanation:
Manufacturing costs are divided into 2 groups;
- Prime Cost.
- Conversion Cost.
- Prime cost: It includes the costs which are directly related to the manufacturing of the product, i-e Direct material cost and direct labor cost. Direct material cost includes the costs related to the raw material of the product being manufactured. On the other hand, Direct labor cost includes the costs which are related to the labor working on the product, for example, the salary of the labor.
Answer: An escalation of commitment
Explanation:
Carrying out projects can be capital, time and energy intensive. Most times they could result to a positive progress or result and other times they may not but the area of changing minds on a project that has had a great ton of investment is usually hard except there is nothing that would be gotten from it. When so much time and resources has been put into a project and there is no plan for a change such commitment is called an escalation of commitment
