Answer:
once you adopt an accounting principle or method, continue to follow it consistently in future accounting periods so that the results reported from period to period are comparable.
Explanation:
Answer: The degree of influence that the investor has over the investee.
To report this investment within the company's financial statements, according to IFRS, they depend into two options:
- Stock control: An entity controls a business when it is exposed or has rights over earnings and has the ability to affect these results through its power in the business.
- Minority percentage: The acquirer recognizes in their books an uncontrolled participation and in this case, no decisive decisions can be made.
Answer and Explanation:
The Journal entry is shown below:-
Bad debts expense Dr, $2,000
To Accounts receivable-Hopkins $2,000
(Being write off is recorded)
Here we debited the bad debt expenses as it increased the expenses and we credited the accounts receivable as it reduced the assets so that the proper posting could be done
Answer:
6:1
Explanation:
Net credit sales is $120,000
Account receivable is $20,000
Cash collection on credit sales is $100,000
.
Therefore the receivables turnover ratio can be calculated as follows
= 120,000/20,000
= 6:1
Hence receivable turnover ratio is 6:1
Answer:
1. Create and give innovative experience.
2. Brand and reputation operation
3. Improvement in workers general welfare
Explanation:
As a manager in an hotel, I would Improve the facets of the hotel by
1. Create and give innovative experience. As a manager, I would ensure the hotel create and delivers top notch service considering there are competition in the hospitality industry.
2. Brand and reputation operation. When customers receives a world class experience, reputation is being created here. I would then sustain this reputation by making it a brand upon which the hotel will be identified with subsequently.
3. Improvement in workers general welfare. This is very critical to the success of the hotel. Once workers are well paid , it would spur them to work and align with the vision I have for the hotel.
