Answer:
Explanation:
a. Total bad debts expenses = Estimated uncollectible accounts - Credit balance in the allowance account before adjustment
= $4500 - $710
= $3,790
Date Account title Debit Credit
Dec 31 Bad Debt Expense $3,790
Allowance for Doubtful Accounts $3,790
a. Total bad debts expenses = Debit balance in the allowance account before adjustment + estimated uncollectible accounts
= $305+ $4500
= $4,805
Date Account title Debit Credit
Dec 31 Bad Debt Expense $4,805
Allowance for Doubtful Accounts $4,805
Later.
Because:
1. it takes time for the new people on the project to "ramp up" before they can become productive.
2. more people working on the project add complexity to project management, communication, coordination, etc.
3. not all tasks can be optimally divided between multiple workers, there is a minimum point they cannotbe divided beyond.
Brooke's law is similar to the law of diminishing returns.
Cost information is a key to decision making in management, budgeting, and planning. Providing the right knowledge based on the organizational experiences that had been done to help businesses and keep themselves from having bad financial decisions in the future. It provides an organized approach in operations for efficient time management and productivity, shorter methods and good financial management.
Answer:
Cash flow from operating activities $141.8
Explanation:
Cash received from customers during the reporting period
A.Sales $ 545.0+ 22.0 Decrease in accounts receivable = $567
B.
Cash paid to suppliers of the goods
Cost of goods sold 218.0 +Increase in inventory 93.0 +Decrease in accounts payable 56.0 =$367
C.
Cash paid to employees
Salaries expense $ 65.0 -Increase in salaries payable 37.0 = $28
D.
Cash paid for insurance
Insurance expense 42.0 -Decrease in prepaid insurance 17.0 =$25
E.
Cash paid for income tax
Income tax expenses 91.0 -Increase in income tax payable 85.8 =$5.2
(2)
Cash received from customers during the reporting period $567
Cash paid to suppliers of the goods ($367)
Cash paid to employees($28)
Cash paid for insurance ($25)
Cash paid for income tax ($5.2)
Cash flow from operating activities $141.8
The net income of the company is $207,000
What is the net income of the company?
The net income of the company is the consulting revenue minus the salaries expense, the interest expense as well as the rent expense for the month of July.
The net income=consulting revenue-rent expense-interest expense-salaries expense
consulting revenue=468,000
salaries expense=197,000
rent expense=37,000
interest expense=27,000
net income=468,000-197,000-37,000-27,000
net income=$207,000
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