Most clients who do not buy company service and products do so because the product and services

____________ refers to a consolidated network of business leadership whose concerns go beyond narrow decision-making within sing

sertanlavr [38]

Answer:

A. Institutional Capitalism

Explanation:

Institutional capitalism is the phenomenon whereby large institutions holds large share of the capitalistic enterprise. Capitalism in itself has to do with private companies having their own ownership of the production process. In this case, the capitalistic enterprise is done on the basis of institutional shareholding.

8 0

3 years ago

At the beginning of the current period, Griffey Corp. had balances in Accounts Receivable of $200,000 and in Allowance for Doubt

Wewaii [24]

Answer:

(a) Prepare the entries to record sales and collections during the period.

Dr Accounts Receivable $ 800,000

Cr Sales $ 800,000

Dr Cash $ 763,000

Cr Accounts Receivable $ 763,000

(b) Prepare the entry to record the write-off of uncollectible accounts during the period

Dr Allowance for Uncollectible Accounts $ 7,300

Cr Accounts Receivable $ 7,300

(c) Prepare the entries to record the recovery of the uncollectible account during the period.

Dr Accounts Receivable $ 3,100

Cr Allowance for Uncollectible Accounts $ 3,100

Dr Cash $ 3,100

Cr Accounts Receivable $ 3,100

(d) Prepare the entry to record bad debt expense for the period.

Dr Bad Debt Expense $ 20,200

Cr Allowance for Uncollectible Accounts $ 20,200

Explanation:

Initial Balance

Dr Accounts Receivable $ 200.000

Cr Allowance for Uncollectible Accounts $ 9.000

During the period, it had net credit sales of $800,000

Dr Accounts Receivable $ 800.000

Cr Sales $ 800.000

Collections of $763,000

Dr Cash $ 763.000

Cr Accounts Receivable $ 763.000

It wrote off as uncollectible accounts

Dr Allowance for Uncollectible Accounts $ 7.300

Cr Accounts Receivable $ 7.300

A $3,100 account previously written off as uncollectible was recovered

Dr Accounts Receivable $ 3.100

Cr Allowance for Uncollectible Accounts $ 3.100

Dr Cash $ 3.100

Cr Accounts Receivable $ 3.100

Assuming 5% of accounts receivable, the journal entry:

Dr Bad Debt Expense $ 20.200

Cr Allowance for Uncollectible Accounts $ 20.200

FINAL Balance

Dr Accounts Receivable $ 229.700

Cr Allowance for Uncollectible Accounts $ 25.000

Bad accounts are those credits granted by the company and there is no possibility of being charged.

When customers buy products on credits but the company cannot collect the debt, then it's necessar to cancel the unpaid invoice as uncollectible.

One way is to directly cancel bad debts at the time it was decided that the credit is bad, the total amount reported as bad debt expenses negatively affect the income statement and the accounts receivable are reduced by the same amount, less assets

The other way is to determine a percentage of the total amount of accounts receivable as bad debts, there are many ways to analyze accounts receivable and calculate the value of bad debts.

When the company has the percentage of uncollectible accounts, the required journal entry is Bad Expenses (debit) with Reserve for Bad Accounts (credit)

At the time of cancellation, since the expenses were recognized before, we only use the Allowance for Uncollectible Accounts (Debit) with accounts receivable (credit), with this we are recognizing the bad credit of the company.

8 0

3 years ago

Which of the following are debt collectors allowed to do when they’re attempting to collect debts?

Alchen [17]

<span>The answer is B. Contact you at home

A. and C. are both invasions of privacy and D. is illegal.

Have good day! =)</span>

5 0

3 years ago

The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing:

Lera25 [3.4K]

<u>Solution and Explanation:</u>

The following journal entries will be passed in the book sof fasteners Inc., Co., which is a supplier of buttons and zippers for clothing

Date Accounts Titles and Explanation Post Ref Debit Credit

1 Nov-21 Notes receivable $ 72,000

Accounts receivable-McKenna Outer Wear Co. $ 72,000

2 Dec-31 Interest receivable $(72000 * 9 \% * 40 / 360)$ $720

Interest revenue $ 320

3 Jan-20 Cash $ 73080

Interest revenue $(72000 * 9 \% * 20 / 360)$ $360

Interest receivable $720

Notes receivable $72,000

Note: the figures have been calculated and rounded off in the nearest dollar amount.

4 0

3 years ago

Question 4

SashulF [63]

1. The calculated capital budgeting techniques yielded the following results:

A. Accounting Rate of Return (AROR) is <u>28%</u>.

B. Payback Period Technique (PBP) is <u>5 years</u>.

C. Net Present Value Technique (NPV) is <u>RM33,588</u>.

D. Profitability Index (PI) is <u>1.056</u>.

2. The project should be accepted based on the positive results above.

3. The importance of capital budgeting techniques lies in the fact that they aid capital decision-making by measuring their probable outcomes.

<h3>What are capital budgeting techniques?</h3>

Capital budgeting techniques are capital investment evaluation tools.

Some of the capital budget tools include the Payback Period, Discounted Payment Period, Net Present Value, Proﬁtability Index, Internal Rate of Return, and Modiﬁed Internal Rate of Return.

These capital budgeting techniques help management to evaluate capital projects and to choose investment strategies.

<h3>Data and Calculations:</h3>

Investment cost = RM600,000

Cost of capital = 12%

Net Cash Flows PV Factor Present Value

Year 0 RM600,000 1 (RM600,000)

Year 1 RM100,000 0.893 89,300

Year 2 110,000 0.797 87,670

Year 3 121,000 0.712 86,152

Year 4 133,100 0.636 84,652

Year 5 146,410 0.567 83,014

Year 6 RM400,000 0.507 202,800

Present value of cash flows = RM633,588

Net Present Value RM33,588

Total Net Cash Flows = RM1,010,510

Average Net Cash flows = RM168,418 (RM1,010,510/6)

Accounting Rate of Return = Average Income/Initial Cost

= 28% (RM168,418/RM600,000 x 100)

Payback period = 5 years

NPV = Initial Investment - PV of net cash flows

= RM33,588

Profitability Index = Present value of cash flows/Initial Cost

= 1.056 (RM633,588/RM600,000)

Learn more about capital budgeting techniques at brainly.com/question/17159659

#SPJ1

8 0

2 years ago

Most clients who do not buy company service and products do so because the product and services​

Most clients who do not buy company service and products do so because the product and services