Answer: Controlling
Explanation: Controlling is the function of management that sets the standards for the performance, then compares the actual performance with the standards set and take corrective action if there comes any discrepancy.
In the given case, Wendy is monitoring the tasks performed by others and is also taking corrective actions. Thus, we can conclude that wendy is performing controlling function.
<span> making on time payments on a debt
</span><span> purchasing a large kitchen appliance with cash
</span><span> saving 25% of every paycheck</span>
Answer and Explanation:
The Journal entry is shown below:-
Cash A/c Dr, $20,000
Accounts Receivables A/c Dr, $140,000
($145,000 - $5,000)
Inventory A/c Dr, $101,700
Equipment A/c Dr, $81,200.
To Allowance for doubtful Accounts $4,400
To Payne's Capital A/c $338,500
(Being assets contributed by partner in business is recorded)
For recording the assets contributed by partner in business we simply debited the cash account, accounts Receivables, Inventory and Equipment as increase the assets while we credited the Allowance for doubtful Accounts as it decreasing the assets and Payne's Capital as increasing the stockholder equity.
Trade discounts are offered to customers with high volume
orders in a specified date of payment. In the problem given, the estimated
price of the jacket is $50 but with 40% discount within 10 days of purchase.
Therefore, $50 * 40% = 20. The manufacturer will receive $30 which is the price
less discount.
