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3 years ago

Case study

Business

1 answer:

Gemiola [76]3 years ago

3 0

Answer:

Strategical level- It states that these type of decision making should be taken by the higher authorities of the company for example, chief executive, chief manager, president etc.

Explanation:

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On January 1, 2022, Harvee Company had Accounts Receivable of $54,200 and Allowance for Doubtful Accounts of $3,700. Harvee Comp

Alexxandr [17]

Answer:

Jan. 5

Dr Account Receivable $4,000

Cr Sales $4,000

(to record sales to Rian)

Feb. 2

Dr Promissory note Receivable $4,000

Cr Account Receivable $4,000

(to record acceptance of Rian company's note)

Feb. 12

Dr Promissory note Receivable $12,000

Cr Sales $12,000

(to record sales to Cato company through acceptance its notes)

Feb. 26

Dr Account Receivable $5,200

Cr Sales $5,200

(to record sales to Malcolm)

Apr. 5

Dr Promissory note Receivable $5,200

Cr Account Receivable $5,200

( to record acceptance of Malcolm notes)

Apr. 12 ( assume Cato's note is collected)

Dr Cash $12,200

Cr Promissory note Receivable $12,000

Cr Interest Income $200

(to record the collection of Cato's note)

June. 2 ( assume Rian's note is collected)

Dr Cash $4,120

Cr Promissory note Receivable $4,000

Cr Interest Income $120

(to record the collection of Rian's note)

Jul. 5

Dr Cash $5,304

Cr Promissory note Receivable $5,200

Cr Interest Income $104

(to record the collection of Malcolm's note)

Explanation:

The calculation of Interest income from the Notes of the three companies as followed:

Rian: 4,000 x 9% x 4/12 = $120

Cato: 12,000 x 10% x 2/12 = $200

Malcolm: 5,200 x 8% x 3/12 = $104.

Further explanation has been put as description under each journal entries listed above.

Cost of goods sold is not included for each sales entries as guided in the question.

5 0

3 years ago

In Chapter 7 bankruptcy a debtor

nalin [4]

Answer: A. is required to draw up a petition listing all assets and liabilities.

Explanation:

Bankruptcy simply refers to the legal whereby an economic entity is unable to repay their outstanding debts. In this case, the individual or business will need to sell its remaining assets in order to pay the liabilities.

Due to the above reason, then the debtor will be required by the government to list all of their assets and the liabilities that it owns and this will be used in determining whether the obligation has been fulfilled or not.

3 0

3 years ago

Briefly describe the function of legislatures and the main difficulties they may experience in carrying out these functions. Cou

Tomtit [17]

Answer:

The main function of the legislatures is to make laws and establish guidelines and other statutes that would establish peaceful co-existence among the peoples.

Explanation:

The main difficulties often experienced by legislatures when carrying out their functions are numerous, beginning with public criticism both positively and negatively, down to the diffferences that may arise in terms of reaching a consensus on any particular bill proposed by a legislator to the House.

Also, the idea of incompetency cannot be overlooked because some members of the House of legislature when assigned to a specific and unique functions are sometimes unable to deliver results as expected by the House and the people who elected them to this function.

Structural changes is one means to this challenges, if it is so necessary. As cited in the instance above, an incompetent legislator or committee should be reviewed, reenacted and competency implied in the appoint to such functions. By so doing,the functions of the legislature will experience less challenges and difficulties.

6 0

3 years ago

Read 2 more answers

Metz Industries stock is twice as risky as the market on average. Given an expected return on the market of A. 7.35% B. 16.50%

sergiy2304 [10]

Answer:

B. 16.50%

Explanation:

We know,

according to Capital Asset Pricing Model (CAPM), the expected return, E(r) = risk-free rate + (expected return on the market - risk-free rate) × beta

Given,

Risk-free rate = 2.50%

Expected return on the market = 9.5%

Beta = 2 (We know market beta is 1. As Metz Industries stock twice as risky as the market on average, the beta of the company is 1×2 = 2.)

Putting the values in to the formula, we can get,

The expected return, E(r) = 2.50% + (9.5%- 2.50%) × 2

E(r) = 2.50% + 7% × 2

E(r) = 2.50% + 14%

E(r) = 16.5%

Therefore, the option B is the answer.

7 0

3 years ago

Morgan, Inc. uses a perpetual inventory system and the net method of recording purchases. On May 12, a merchandise purchase of $

klasskru [66]

Answer:

e. Merchandise Inventory Debit 19,982

Accounts Payable Credit 19,982

Explanation:

In a perpetual inventory system, the inventory account is used to record purchases and cost of goods sold. Inventory counts are conducted on periodic basis and the inventory quantities are matched with inventory records and any differences are adjusted.

Since Morgan Inc. also uses the net method to record purchases, any discounts allowed are considered to have been received.

In this question, the terms are 3/10, n/30 which means that a 3 % discount is allowed on payment within 10 days and if not then the payment has to be done within 30 days.

Considering a 3 % discount on the purchase value of $ 20,600, the entry to be recorded shall be at a value of $ 19,608 (20,600-618)

6 0

3 years ago