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3 years ago

Jeremy is the team leader of the employees planning to display the

Business

1 answer:

neonofarm [45]3 years ago

4 0

Answer:

B. Progress reports

Explanation:

Since in the question it is mentioned that Jeremy who is the team leader wants to display the new product of the company at the bid convention so he would be ready on time so here the weekly report that he should be make for the team is progress report that shows the company achieved during the week and what would be achieved in the future. It also be the goal-oriented having deadlines and accurate explanation related to what has been done and what to be left

So option B is correct

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Corazon Company purchased an asset with a list price of $14,000. Corazon paid $500 of transportation in cost, $800 to train an e

Licemer1 [7]

Answer:

15,160

Explanation:

Net 20 terms: Full amount ready between 20 days, occasionally written as n/20.

Terms 2/10. n/30: with a 2% discount for settlement within 10 days, net 30 implying that the full amount will be ready between 30 days.

The terms 1/10, n/30: with a 1% discount for settlement within 10 days time, net 30 meaning the full amount is going to be ready between 30 days.

Terms 5/10, 2/30, n/60: 5% for settlement within 10 days, 2% for settlement in 11-30 days, full amount due within 60 days.

Net 30 Terms EOM: Payment will be ready in full 30 days after the end of the month (EOM) in which the invoice was given for.

7 0

4 years ago

Read 2 more answers

Laurs Company uses the percentage of receivables method for recording bad debts expense. The Accounts Receivable balance is $200

lisabon 2012 [21]

Answer:

c. Bad Debts Expense 6,000 ; Allowance for Doubtful Accounts 6,000

Explanation:

Before passing the adjusting entry, first we have to determine the adjusted amount which is shown below:

= Uncollectible balance - credit balance of Allowance for Doubtful Accounts

where,

Uncollectible balance = Accounts receivable × uncollectible percentage

= $200,000 × 4%

= $8,000

And, the credit balance of Allowance for Doubtful Accounts is $2,000

Now put these values to the above formula

So, the value would be equal to

= $8,000 - $2,000

= $6,000

Now the adjusting entry would be

Bad debt expense A/c Dr $6,000

To Allowance for doubtful debts $6,000

(Being estimated bad debts is recorded)

5 0

3 years ago

Single largest contributor to the probability that a firm will end up in financial distress?

Sergeeva-Olga [200]

The single largest contributor to the probability that a firm will end up in financial distress occurs when income flows fail to meet the required spending outflows owed to outstanding obligations or needs.

Financial distress is the inability of a business or individual to generate sufficient income or income to meet or pay their financial obligations. This is typically due to high fixed costs, a high proportion of illiquid assets, or cyclical earnings.

Financial distress may therefore make it difficult for the company to obtain external funding for viable projects. Our inability to raise external funding and our predicament may both impact our trade credit policy.

Learn more about financial distress at

brainly.com/question/26725354

#SPJ4

4 0

2 years ago

Why do companies lower product prices and offer free samples?

Lemur [1.5K]

The best choice here is A) They give out the samples and free trials as a test to see how common it is for people to be interested in their product.
Hope this helps

3 0

3 years ago

Read 2 more answers

XYZ, CPA, has been engaged to examine the financial statements of ABC Corporation for the year ended December 31, 2015. During t

Ivahew [28]

Answer:

a. Analytical review of loan agreement.

Inquiry from management about the loans and its covenants.

Observing the management behavior towards covenants.

Inspecting the effects of each covenant on business activities.

b. According to IAS 24, related party transactions the loan from president should be disclosed.

Explanation:

Loans are a source of funding to a business. Many organizations prefers high debt funding as it is a cheap source of finance. On the other hand high debt companies are considered as risky. When an auditor analyses the loan covenants he must ensure that he reads the complete agreement and analyses the effects that each covenant has on the company's performance. Loan covenants are always considered as flagged as this is an important area which requires detailed audit. In the given scenario the loans are taken against company's inventory and receivable accounts which is a threat to company's working capital. There are covenants imposed not to distribute any dividend to shareholders. These will create a liquidity position for a company if the loan is not paid on time and company will not have sufficient amount of working capital to fund its routine expenses and business operations.

b. IAS 24 provides detailed guidance on discloses for transaction involving related party. The president of a company has provided loan to the company this should be disclosed in the notes. The transaction should be in the arms length and disclosures should be made for every transaction.

5 0

3 years ago