Answer: Delegation
Explanation: Delegation in the context above may simply be explained as the process whereby there is a shift in the responsibility of one person to another who will function as a deputy. When an individual usually a superior, who is the actual overseer of a certain process or routine entrusts or handover to another person due to one reason or the other such as tight scheduling or shortage of personnel. In most cases the new handler is usually a lower ranking official in the task such as in the scenario above and as such, the expected rate of output is slightly reduced.
Answer:
See below
Explanation:
The net realizable values are as follows
ai For accounts receivables
Ending balance of account receivables = Beginning balance of account receivables + Credit sale - Collections uncollectible amount
= $187,800 + $860,400 - $687,720
= $360,480
aii For allowance for doubtful debt
= Beginning balance + Previously written off amount - Uncollectible amount + Bad debt expense
= $9,630 + $2,859 - $7,381 + $18,412
= $23,070
Answer:
a. less wealthy and they buy less.
Explanation:
we are assuming a situation where the price level rises (inflation rises), so anyone holding cash will be able to purchase a smaller amount of goods with the same amount of cash simply because the goods are more expensive. E.g. you purchased 10 goods with $100, but if the inflation rate increases to 10%, you will be able to purchase only 9 goods with the same $100. As inflation rises, people holding cash (or other monetary form) will lose wealth and purchasing power.
Answer:
Original Cost = $26.10
Annual Amortization (Old) = $26.10 / 9 years
Annual Amortization (Old) = $2.9 million
Amortization till Date (2017 - 2021) = $2.9*4 = $11.6 million
Unamortized Value = $26.10 million - $11.6 million
Unamortized Value = $14.5 million
Remaining Life = 6 - 4
Remaining Life = 2 Years
New Amortization = Unamortized Value/Remaining Life
New Amortization = $14.5/2
New Amortization = $7.25 million
Journal Entry
Amortization Expense Debit - $7.25 million
Patent Credit - $7.25 million