Their investments (in the things they need to run the new company) are being financed by someone else's savings
Answer:
The balance in the allowance for doubtful accounts after bad debt expense is recorded is $12,240. Option A
Explanation:
Cash sales = $167,000
Credit sales = $467,000
Selling and administrative expenses = $127,000
Sales returns and allowances = $47,000
Gross profit = $507,000
Accounts receivable = $275,000
Sales discounts = $31,000
Allowance for doubtful accounts credit balance = $2,900
Balance needed in the 'Allowance for doubtful accounts' = $467,000 × 2%
= $9,240
Credit balance in the allowance account = $2,900
Bad debts expense = Balance needed in the 'Allowance for doubtful accounts' + Credit balance in the allowance account
= $9,340 + $2,900
= $12,240
Yeah blue dinosaur is perfect
Answer:
B, D and E
Explanation:
The sales department is a common component that is all organizations. It is comprised of sales representatives with different skills and abilities. The best persons will share similar characteristics. These are the traits that make them effective and puts them at the top. They include
- Communication skills. A goods salesperson is able to initiate and sustain a conversation with a customer. Clients tend to resist sale representative whose interest is to close a sale as quickly as possible. He or she must provide excellent proposals and quotes to keep the client interested.
- Maintain relationship with clients. A good salesperson maintains a relationship with customers. He or she is not interested in the current deal only, but future prospects too.
- Competitiveness. To achieve sales targets, a good salesperson must demonstrate and maintain assertiveness and aggregation in the marketplace.
Answer:
c) Credit to Cash for $242
Explanation:
Petty cash, beginning = $300
Delivery expense = $53
Merchandise inventory = $167
Miscellaneous expense = $22
Petty cash, Ending = $58
The journal to record the reimbursement of the accounts will be:
Event Account Title and Explanation Debit Credit
1 Delivery expense $53
Merchandise inventory $167
Miscellaneous expense $22
Cash $242