Answer: Planning reduces creativity
Explanation:
Under Planning reduces creativity, all team menbers are instructed or directed to work within the frame given by the management to them, working outside the frame of what was issued would go against the directives of the organization. This type of limitation of planning limits creativity, because members won't be able to introduce ideas to advance the growth of the team.
Answer:. ............$
1. Bad debt Dr. 11.0000
Account receivable Or. 11.000
Narration: Bad debts writing off debtors
2. Cash/Bank. Dr 1800
Profit or loss Cr. 1800
Narration. Bad debt previously written off recovered
3. Profit or loss Dr 4000
Allowance for doubtful debts Cr
4000
Narration. Increase in provision for doubtful debts.
Answer:
The balance in the accumulated depreciation account at the end of the second year is $146,000.
Explanation:
Straight line method charges a <u>fixed depreciation charge</u> on the asset during its period of use.
Depreciation Expense (Straight line) = Cost - Residual Amount ÷ Estimated Useful life
= $778,000 - $48,000 ÷ 10
= $73,000
Therefore, for each year, a depreciation expense of $73,000 is charged to profit an loss.
Accumulated Depreciation Calculation :
Depreciation Expense : Year 1 $73,000
Depreciation Expense : Year 2 $73,000
Total Expense $146,000
Answer:
Liability of un-redeemed coupons Pending on December 31, 2018 is $60,000
Explanation:
Coupon already expired issued on Jan 01, 2018
Coupon issued on 07/01/2018 <u>$830,000</u>
Estimated redeemable coupon value - 50% $415,000
($830,000 * 50%)
Less : Disbursed <u>$355,000</u>
Liability pending on Dec. 31, 2018 <u>$60,000</u>
Answer:
$125,000
Explanation:
Opening values of;
Total assets = $120,000
Total liabilities = $40,000
Total equity = $120,000 - $40,000 = $80,000
During the year,
Total revenues = $140,000
Total expenses = $50,000
Withdrawal by owner = $45,000
The amount withdrawn by the owner reduces the owners equity. This may be deducted from the net income.
Net income from the year = $140,000 - $50,000 - $45,000
= $45,000
This will be added to the opening owner's equity to get the closing owner's equity.
Owner's equity at the end of the year = $80,000 + $45,000
= $125,000
