Answer:
1. $66,000
2. $66,000
Explanation:
The computations are shown below:
1. Before written off:
= Account receivable balance - uncollectible amount
= $70,000 - $4,000
= $66,000
2. After written off:
= Account receivable balance - second year written off amount - uncollectible amount + second year written off amount
= $70,000 - $700 - $4,000 + $700
= $66,000
Answer:
Rewarding behavior, not just results
Explanation:
Effective recognition means that you have to recognize the effort that being put by the person , not just the ideal outcome.
Let's say that you want to influence your employees to improve their productivity. There is a chance that some might fall and some might succeed.
Those who fall does not necessarily make lesser effort than those who success. There is a chance that they're focusing their effort on the wrong things.
In such situations, you need to acknowledge and reward the fact that they're willing putting the effort and give them advice on how to nudge the effort's direction so it become more effective.
Answer:
c. Wilma (and each of the members) pays taxes on their $1 million share ($5 million divided by 5) of profits.
Explanation:
Data provided in the questions
Generated profits = $5 million
Reinvested amount into the company = $4 million
Out of which $1 million is to be divided equally
based on the above information, the federal income tax should be paid by 5 members of $1 million each
Hence, the option c is correct
And all other options are wrong
The type of economy that people grow crops for their own use is traditional .The correct answer is D.
Answer:
Current Ratio: 2.49; 2.7; 1.75
Acid test ratio: 1.32; 0.64; 0.65
Explanation:
Current ratio
For Camaro:
= Current assets ÷ Current liabilities
= $ 5,915 ÷ $2,380
= 2.49
For GTO:
= Current assets ÷ Current liabilities
= $3,780 ÷ $1,400
= 2.7
For Torino:
= Current assets ÷ Current liabilities
= $6,900 ÷ $3,950
= 1.75
Acid test ratio:
For Camaro:
= (Current assets - Inventory - Prepaid expense) ÷ Current liabilities
= ($5,915 - $2,375 - $400) ÷ $2,380
= $3,140 ÷ $2,380
= 1.32
For GTO:
= (Current assets - Inventory - Prepaid expense) ÷ Current liabilities
= ($3,780 - $2,180 - $700) ÷ $1,400
= $900 ÷ $1,400
= 0.64
For Torino:
= (Current assets - Inventory - Prepaid expense) ÷ Current liabilities
= ($6,900 - 3,450 - $900) ÷ $3,950
= $2,550 ÷ $3,950
= 0.65
