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Pachacha [2.7K]
2 years ago
14

On December 31, 2015. management had determined that it would not be able to collect the $1,200 owed to It by its customer Acme.

Inc. On September 15, 2016, a check in the amount of $600 was unexpectedly received from Acme Management does not expect any future collections from Acme. (The company uses the direct write-off method to account for its uncollectible accounts.)Required:
Prepare the necessary journal entry to record the events. (Use a compound entry Instead of preparing two separate journal entries.)
Business
1 answer:
Cerrena [4.2K]2 years ago
7 0

Answer:

December 31, 2015, bad debt written off

Dr Bad debt expense 1,200

    Cr Accounts receivables 1,200

September 15, 2016, write off is partially reversed and a partial payment is collected

Dr Accounts receivable 600

    Cr Bad debt expense 600

Dr Cash 600

    Cr Accounts receivable 600

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Answer:

Explanation:

Forward excahnge rate/spot exchange rate = (1+rh)/(1+rf)

rh - periodic interest rate in the home currency

rf - periodic interest rate in the foreign currency

Forward/90 = [1+1%*180/360]/[1+2%*180/360]

Forward = 1.005/1.01 * 90 = 89.55

Forward rate is 89.55 yen/$

3 0
2 years ago
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Answer:

The correct answer is D

Explanation:

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So, the corporate strategy is the one which determine the boundaries of the business in 3 dimensions like geographic scope, diversification and vertical integration.

3 0
3 years ago
Riley Company paid $60,000 cash to purchase land from Smally Company. Smally originally paid $60,000 for the land. A) Was this e
Veseljchak [2.6K]

Answer:

A. Asset exchange transaction

B. Asset exchange transaction

C. Investing activity

D. Investing activity.

Explanation:

In the question, the Riley company paid cash to Smally company, and the Smally company paid the amount for the land.

So,  

A. For Riley company, it is an asset exchange transaction as the asset exchanges between Riley and Smally company.  

B.  For Smally company it is an asset exchange transaction as the asset are the exchange between Riley and Smally company.

C. Investing activity. As the Riley company deals in the purchase and the sale of the fixed assets.

D. Investing activity. As the company deals in the purchase and the sale of the fixed assets.

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Answer:

A

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A Marketing Cluster contain jobs in the marketing field which require the similar skills or educational qualification. An individual that studies marketing can find employment in any of the clusters  

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2 years ago
Which of the following is NOT an example that falls within the four major categories of business environment factors for today's
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c. fewer government regulations

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