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ololo11 [35]
3 years ago
11

At December 31, 2018, Oriole Company reported the following information on its balance sheet.

Business
1 answer:
drek231 [11]3 years ago
7 0

Answer:

Bad debt expense (Dr.) $68,930

Allowance for Doubtful Debt (Cr.) $68,930

Explanation:

Accounts Receivable :

Balance $948,000

Add: Sales $3,609,930

Less: Sales returns $51,000

Less: Collections $2,756,000

Less: Write offs $97,000

Add: Recovery of old Bad debts $28,000

Adjusted Balance $1,653,930

Bad Debts :

Balance $78,000

Less: Allowance for doubtful debts $97,000

Less: Recovery $28,000

Adjusted Balance $9,000

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Z chooses a life income with 10 year period certain settlement option for the annuity Z owns. Z dies after 15 years of receiving
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Answer: Nothing

Explanation:

From the question, we are informed that Z chooses a life income with 10 year period certain settlement option for the annuity Z owns and that Z dies after 15 years of receiving income benefit payments. Based on the above situation, Z's beneficiary receive will receive nothing.

This is because Z has already gotten the income benefits payment since it's for a 10 year period

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3 years ago
a study in the construction industy found that when equipment was stolen from worksites, in 82% of the cases workers were the th
Natasha2012 [34]

Employers in the construction sector would benefit most from the validation of personnel selection information to aid in reducing employee theft.

<h3>What is validation?</h3>
  • The data support the hypothesis that reducing theft would result from the hiring of qualified workers without criminal records.
  • Effectiveness is measured by validity.
  • Therefore, if tests properly and accurately measure what they are intended to assess AND if tests are demonstrated to yield consistent findings over time, validation and dependability in hiring tools are present.
  • Accepting someone else's views, feelings, and emotions are known as validation.
  • The act of rejecting, criticizing, or ignoring someone else's opinions, sentiments, emotions, or behaviors is known as invalidation.

Therefore, validation of employee selection information would employers in the construction industry receive the greatest benefit in helping reduce employee theft.

Know more about validation here:

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4 0
1 year ago
Based on the Information that follows, prepare the cost of goods sold section of a multiple-step income statement.
Shtirlitz [24]

Answer:

Cost of goods sold = $105,060

Explanation:

a) Data and Calculations:

Cost of goods sold section of the multi-step income statement:

Merchandise Inventory, January 1, 20--       $37,000

Purchases                                                       102,000

Purchases Returns and Allowances               (4,200)

Purchases Discounts                                       (2,040)

Freight-In                                                              800

Merchandise Inventory, December 31, 20--(28,500)

Cost of goods sold                                     $105,060

b) The cost of goods sold comprises the beginning inventory, purchases and freight-in costs incurred during the period, less purchases returns and discounts, and the ending inventory.  It represents the cost incurred directly for the goods sold.  This means that indirect costs are not included in the cost of goods sold.  Such costs are usually deducted as period costs before arriving at the net income.

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Which of the following is a disadvantage to choosing a sole proprietorship business structure?
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Which of the following is a disadvantage to choosing a sole proprietorship business structure? The owner has personal responsibility for the company's liabilities.

A sole proprietorship is the simplest business form that can be operated. A sole proprietorship is owned by one individual and they are responsible for all of the debts the company has. The business is ran by one person and there is no distinction between the person and the business, both fall under the same number (social security number) when filing taxes.

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Answer:

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