Answer:
Simple interest= $273.7
Explanation:
<em>Simple interest is the interest on earned on the principal amount invested only. Kindly note that under this system, only the principal amount invested would earn interest over the course of the investment period</em>
<em> Simple interest is calculated as follows:</em>
Simple interest = Principal × Rate × Time
or
Simple interest = Future sum - Principal amount invested
DATA
Future sum- $973.70
Principal amount invested-700
Simple interest = 973.70 - 700=273.7
Simple interest= $273.7
Answer:
Hidden Valley's Asset Turnover = 1.6
Explanation:
Average Total Asset = (Total Assets at the beginning of the year + Total Assets at the end of the year)/2
Average Total Asset = (450,000+550,000)/2
Average Total Asset = 1,000,0000/2 = 500,000
Asset Turnover = Net Sales / Average Total Asset
Asset Turnover = 800,000/500,000
Asset Turnover = 8/5
Asset Turnover = 1.6
Answer:
Interactional Justice
Explanation:
Interactional Justice is an organizational behavior that deals with how respectfully and dignified people affected by a decision are treated.
As a management or leadership, interactional justice is important as it shows how well managers/leaders can execute their decisions and use their authority with employees/subordinates while being fair, polite and open to them.
Interactional Justice can simply be said to be the fairness and openness with which decisions are made known to the affected individuals.
Cheers.
Answer: Economic perspective is when an issue is considered been affected by the economy or the economy affecting the issue when making a decision. This decisions making are described as follows;
Scarcity; Available resources can only be used for only one purpose at a time, that means choice has to be made. Because I choice must be made, decision making has to be considered. Scarcity and choice goes together.
Opportunity cost; The cost of any activity,goods or services is the absolute value of what must be given up to obtain it. That means a decision for the value to be given up as cost, to get a goods, services or activity should be weighed.
Utility; this is the satisfaction derived from the consumption of a goods or services. Before a satisfaction can be achieved, a value must be given up to achieve such satisfaction, a decision of the value to be given up compared to the satisfaction should be weighed
Marginal analysis; any option considered in decision making weigh the marginal benefit against the marginal cost, where marginal means extra, additional, or a change in. Therefore the marginal cost of an action should not exceed it's marginal benefits. Whether the decision is personal or one made by business organization or government, the principle is always the same.
Purposeful behaviour; people always weigh costs and benefits in a way to maximize satisfaction with their decision. They should be a rational self-interest, which will lead to achieving maximum utility in decision making.
Answer:
The required adjusting entry to record estimated bad debts expense is as follows:
Debit Bad Debts Accounts with $39,960
Credit Allowance for Doubtful Accounts with $39,960
Being the adjustment to bring the Allowance for Doubtful Accounts up a new credit balance of $43,625.
Explanation:
The Allowance for Doubtful Accounts had a credit balance of $3,665. Since management had estimated that $43,625 of the Accounts Receivable balance would be uncollectible, this means that the difference $39,960 ($43,625 - $3,665) would be the adjusting amount to bring the balance up-to-date.
Remember that the Allowance for Doubtful Accounts is a contra account to the Accounts Receivable. It is used to reduce the balance of the Accounts Receivable based on collectibility judgement or estimate which management makes out of experience. The balance in this account is, therefore d,educted from the Accounts Receivable in the Balance Sheet in order to obtain the net Accounts Receivable balance.
The account that expenses the increase in this account is the Bad Debts Expense Account, which is taken to the Income Statement to reduce the income.
