Answer: Debit Bad debt expense $11,264, Credit Allowance for bad debt $11,264; Debit Allowance for bad debt $9,650, Credit Accounts receivable $9,650.
Explanation: Percentage of credit sales method means bad debt expense expressed as a percentage of sales.
The estimated bad debts rate is 2.2%, which translates to 2.2% of $512,000 (credit sales) = $11,264. The firm has to record this, being the estimated bad debts rate, as Debit to bad debt expense and Credit to allowance for bad debt. However, accounts receivable that was deemed uncollectible is $9,650. This amount would be taken out from the buffer in allowance account by debiting allowance for bad debt and crediting accounts receivable.
Here, we are decide the best option between making the part or buying the part.
a. Make or Buy Analysis
Particulars Make amount Buy amount
Direct Materials $4.50
Direct Labor $1.00
Overhead (80% of Direct Labor) $0.80
Cost to buy <u> </u> <u>$4.70</u>
Cost per unit <u>$5.70 </u> <u>$4.70</u>
Cost Difference = $5.70 - $4.70
Cost Difference = $1.00
Therefore, the cost difference of making amount over buying amount is $1.00.
b. Because of the difference, Beto should buy the part because its cost is lesser than to make the part.
Therefore, the buying of the part is the best decision.
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Answer:
Truman has a higher inventory turnover ratio and Stapleton has a higher gross profit ratio ( D )
Explanation:
Truman sell a large number of common household items ( assuming 100 unit )
while Stapleton sells a small number of expensive items ( assuming 20 units )
lets assume : Truman sells at $5 per unit and Stapleton sells at $50 per unit
with the above assumptions
Truman gross profit ratio = $5 * 100 units = $500
Stapleton gross profit ratio = $50 * 20 units = $1000
from the above assumptions you can deduce that the gross profit made by Stapleton is higher although he sells a smaller amount of goods while Truman has a higher Turnover because of its higher number of sold units
A management professor discovers a way for corporate management to operate more efficiently. He publishes his findings in a journal. His findings are common, but not proprietary, knowledge. Corporate management is a crucial component of running a business. It outlines the hierarchy of leadership positions.
The procedure for employees to follow when reporting to their superiors, and the method for rewarding employees for their efforts. Your team can thrive by comprehending corporate management and its function within a business or organization. In this article, we go through the definition and many forms of corporate management.
The stages involved in formulating a plan and advice for developing your own management style. Planning, directing, coordinating, and controlling a company's operations are all part of corporate management.
To learn more about corporate management, click here
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Answer:
creative
Explanation:
He could either be a humble, extroverted, born or creative leader. From these options the most intuitive answer would be that he is a creative leader given that he has introduced "breakthrough technologies" in the companies products which would only be possible through a great amount of initiative and creativity.
The term "breakthrough technologies" is the key word in answering this question as it refers to innovation that has never been seen before. Thus, it would require a great deal of creativity to think of and successfully introduce and implement into a company.
