Answer:
Explanation:
The correct answer is option C. Job sharing.
Job Sharing - In the job-share model, two employees split the burden of a single full-time position between them; they complete the same responsibilities on various days of the week.
All purchase/sale transactions are made on credit. The company uses the fifo method and perpetual inventory system to report transactions. What is the ending balance of inventory under the fifo method?.
All purchase/sale transactions are made on credit. The company uses the FIFO method and perpetual inventory system to report transactions. $4,500 is the ending balance of inventory under the FIFO method.
First In, First Out, sometimes known as FIFO, is a strategy of managing assets and valuing them that prioritizes the sale, use, or disposal of assets that were produced or acquired first. For taxation purposes, FIFO presumes that the cost of items sold on the income statement includes the assets with the oldest expenses (COGS).
According to the accounting principle known as first in, first out (FIFO), assets that are bought or acquired first are also the first to be sold.
According to FIFO, the inventory still on hand is made up of products that were bought last.
LIFO is an accounting technique that differs from FIFO in that assets that were acquired or purchased most recently are sold first.
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The question was incomplete. Check below the full question.
All purchase/sale transactions are made on credit. The company uses the FIFO method and perpetual inventory system to record transactions. Which of the following will be recorded on February 25?
a. $1,300
b. $4,500
c. $3,000
d. $1,000
exercise 7-11. canarie, inc. has decided to discontinue manufacturing its quantum model personal organizer. currently the company has a number of partially completed personal organizers on hand. the company has spent $105 per unit to manufacture these organizers. to complete each unit, costs of $14 for material and $17 for direct labor will be incurred. in addition, $10 of variable overhead and $29 of allocated fixed overhead (relating primarily to depreciation of plant and equipment) will be added per unit. if canarie, inc., completes the organizers, it can sell them for $142 per unit. another manufacturer is interested in purchasing the partially completed organizers for $115 per unit and converting them into inventory tracking devices. what is the incremental profit per unit canarie, inc. needs to consider as it evaluates the two alternatives? enter your answers as amounts only with neither commas nor decimals.
For each alternative, the incremental profit per unit that Canarie, Inc. needs to consider in its evaluation is as follows:
Alternative 1 Alternative 2
Incremental profit $37 $15
What is the incremental profit?The incremental profit refers to the gain or the difference between the incremental sales revenue and the incremental cost.
Incremental profits arise from mangerial decisions, especially with respect to choosing betweeen alternatives.
We should remember that sunk costs, like fixed overhead, are not relevant in a managerial decision. The already incurred production cost is like a sunk but it is considered for determining the incremental profit.
Alternative 1 Alternative 2
Complete Incomplete
Sunk production cost $105 $105 = irrelevant
Incremental costs:
Materials 14
Direct labor 17
Variable overhead 10
Total incremental costs $41
Selling price $142 $115
Incremental profit $37 $15 ($115 - $105)
The total incremental costs is $41 for alternative 1 and $0 for alternative 2.
Thus, it profits Canarie, Inc. more to complete the organizers than selling them to another manufacturer.
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borrowed $100 from her cousin at the rate of 10% per year. if the inflation rate was 4% that year, what is her cousin's actual rate of return on the loan
Borrowed $100 from her cousin at the rate of 10% per year. if the inflation rate was 4% that year, what is her cousin's actual rate of return on the loan is 6%-2%=4%.
In the field of economics, In the study of economics, inflation is the term that denotes a steady rise in the price of products and services across a state. As the general price level rises, each unit of currency may buy fewer goods and services, hence inflation is related to a reduction in the purchasing power of money. The opposite of inflation is deflation, which is a persistent rise in the overall level of prices for goods and services. The most common measure of inflation is the annualized percentage change in a general price index, sometimes known as the inflation rate.
Because price rises are not constant across the board, the consumer price index (CPI) is widely used for this purpose. The employment cost index is also used to determine wages in the US
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on december 31 before adjusting entries, accounts receivable for calegari company had a debit balance of $200,000, and the allowance for doubtful accounts had a credit balance of $6,000. credit sales for the year were $1,600,000.
The balance of the allowance for doubtful accounts will be $22,000 after adjustment, if credit losses are estimated at 1% of credit sales.
After-adjustment allowance for doubtful accounts:
= Credit balance of Allowance for Doubtful Accounts + Estimated percentage of Credit Sales for the Year
= $6,000 + 1% of $1,600,000
= $6,000 + $16,000
= $22,000
The balance of the allowance for doubtful accounts will be $22,000 after adjustment.
Here is the complete question-
On December 31, 2016 before adjusting entries, Accounts Receivable for Nickolas Company had a debit balance of $200,000, and the Allowance for Doubtful Accounts had a credit balance of $6,000. Credit sales for the year were $1,600,000. If credit losses are estimated at 1% of credit sales:
a. The balance of the Allowance for Doubtful Accounts will be $10,000 after adjustment.
b. The balance of the Allowance for Doubtful Accounts will be $22,000 after adjustment.
c. The balance of the Allowance for Doubtful Accounts will be $16,000 after adjustment.
d. Bad Debts Expense for the year will be $22,000.
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beginning in the mid-1970s, the united states government has deregulated several industries, such as airlines, trucking, railroads, and telecommunications. on average, deregulation has
The united states government has deregulated several industries, such as airlines, trucking, railroads, and telecommunications. on average, deregulation has lowered price.
Economic deregulation does not take place instantly. Legislators and regulators take time to remove regulatory structures, and the deregulated industries need extra time to adapt to their new competitive environment. Midway through the 1970s, price, entrance, and exit restrictions in the transportation, finance, energy, and communications sectors were liberalized by federal regulatory agencies and the U.S. Congress. However, only two significant American industries—airlines and motor carriers—have undergone full deregulation to date, while several minor ones—such as intercity bus transportation and air cargo—have done so throughout that period. Take airlines as an example to understand the rate of industry change. When the Civil Aeronautics Board initially supported trials of discounted prices, economic deregulation of the airline sector started in 1974.
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the 2017 fair market monthly rent for a two-bedroom apartment, according to the department of housing and urban development, hovered around .
The 2017 fair market monthly rent for a two-bedroom apartment, according to the department of housing and urban development, hovered around $1,000.
The entire number of buyers and sellers in the area or region under consideration is referred to as the market. Earth, as well as several nations, regions, states, and cities, may be the subject. A self-contained housing unit (a sort of residential real estate) known as an apartment. Apartments' housing tenure also varies widely, from large-scale public housing.
The worth, expense, and cost of the goods traded depend on the forces of supply and demand in the market. The market could either be a real place or online. It could be flawless or flawed, local or universal. The term "available market" refers to a market that includes all local residents. There is a "market minimum" inside the available market, or the size of the market that will purchase items without any marketing effort. Without taking any action, a corporation could only receive sales like this one. This level is getting lower and lower in the modern world.
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is the sacrifice involved in making one decision over another
An opportunity cost is the sacrifice involved in making one decision over another.
What is an opportunity cost?The worth of what you forgo while deciding between two or more possibilities is known as opportunity cost. Every decision entails trade-offs, and opportunity cost refers to the possible advantages you'll forgo by selecting one course over another.
In plain English, it could be described as the value that is lost when a company must choose between two or a lot of options.
It is the value or advantage forfeited by engaging in a specific activity in comparison to engaging in a different activity is known as the opportunity cost in microeconomic theory. Simply say, it connote that if a person select one activity, that person does forfeit the ability to do another.
Therefore, Note that Another word for the term opportunity cost are:
ValueAssessmentMonetary valueAverage costLearn more about opportunity cost from
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identify the disadvantages of the corporate form of business. (check all that apply.) multiple select question. transferable ownership rights corporate taxation government regulation limited liability lack of mutual agency
The disadvantages of the corporate form of business includes:
Government regulationDouble taxationWhat is a corporate form of business?The corporate form of business is better known as a corporation. This form of business means the legal entity that is separate and distinct from its owners. It possess many of the same rights & responsibilities as individuals because they can enter contracts, loan and borrow money, sue, be sued, hire employees, own assets, pay taxes etc.
It is also known that a corporation offers the strongest protection to its owners from personal liability. although a demerit is that the cost to form a corporation is higher than other structures.
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hewlett-packard (hp) founders david packard and william hewlett strived to create a close-knit organizational culture that gave a lot of responsibility to employees and fostered innovation within the company. in hp’s culture, individual responsibility and the importance of innovation are
hewlett-packard (hp) founders david packard and william hewlett strived to create a close-knit organizational culture that gave a lot of responsibility to employees and fostered innovation within the company. in hp’s culture, individual responsibility and the importance of innovation are been recorded.
What are organizational culture?Organizational culture can be described as the series of the values, expectations, and practices that is needed in the organization so that the smooth running of the organization can be possible.
It should be noted that this help the member of the organization to know what is necessary as well as what is not when they are carring out their work in the organization, however the culture in the organization help to be able to know about the working principle of the organization such as the hewlett-packard since this usually bring about innovation as well as increment in the productivity of the member of the team in the organization.
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producers may only use cms and aetna-approved marketing materials that have been created by our marketing team, approved by us and filed with cms by us when discussing aetna individual medicare plans
Producers may only use CMS and Aetna-approved marketing materials that have been created by our marketing team, approved by us, and filed with CMS by us when discussing Aetna individual Medicare plans.
This statement is True.
A producer is a person who produces and supplies goods and services. A producer combines labor and capital (called factor input) to create another. H. Produce. Firms are the prime example of a producer, and what economists usually think of when they talk about producers.
Producers are people who produce or grow goods and provide services. Sometimes they are called workers and they help us do something. For example, a florist is a producer of beautiful bouquets.
Progenitors are creatures that feed themselves from sunlight, air, and soil. Green plants are producers, making food with their leaves. Consumers are creatures that cannot produce their own food. Consumers get their energy from food. All animals are consumers.
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Pitt's pit stop sold 15,490.50 worth of gasoline yesterday. regular sold for 3.30 a gallon and premium sold for 3.45 a gallon. if the gas staton sold 380 more gallons of regular then premium part a) how many of each type of gasoline were sold part b) if the profit on a regular gas is 0.05 per gallon on premium is 0.18 per gallon what was the stations total profit?
a). The number of gallons for each gasoline sold is:
Regular gasoline sold = 2530 gallons
Premium gasoline sold = 2109 gallons
b). The station's Total profit = $506.12
To get the the number sold by both type of gasoline,
Let:
Amount of regular gasoline sold = x gallons
Amount of premium gasoline sold = y gallons
Rate of regular gasoline = $3.30 per gallon
Rate of premium gasoline = $3.45 per gallon
"The station sold 380 more gallons of regular than premium gasoline."
Equation will be, x = y + 380 --------(1)
"Pitt's Pit shop sold $15490.50 worth of gasoline."
Equation for the statement will be,
3.30x + 3.45y = 15490.50 ----------(2)
Now we substitute the value of x from equation (1) to equation (2)
3.30(y + 380) + 3.45y = 15490.50
3.30y + 1254 + 3.45y = 15700.50
6.75y = 15490.50 - 1254
6.75y = 14236.50
y = 14236.50/6.75
y = 2109 gallons
By substituting the value of y in equation (1)
x = 2150 + 380
x = 2530 gallons
Regular gasoline sold = 2530 gallons
Premium gasoline sold = 2109 gallons
b). Since:
Profit on regular gas = $0.05 per gallon
Profit on the premium gas = $0.18 per gallon
Therefore, total profit of the station = 2530*0.05 + 2109(0.18)
= $126.5 + $379.62
= $506.12
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A factory owner wants his workers to produce as many widgets as they can so he pays his workers based on how many widgets they produce. however, in order to make sure that the workers do not rush and produce a large number of poorly made widgets, he checks the widgets at random at various stages of their manufacture. If a defect is found in a widget, the pay of the entire section of the factory responsible for that defect is docked. How is this factory owner seeking to solve the agency conflict problem in this case?.
The factory owner seeks to solve the agency conflict in this case by supplying incentives so the agents act in the way the principal desires.
Conflict is the term used to describe the discord brought on by opposing beliefs, objectives, and circumstances. Internal and external conflicts have two subtypes each, and there are two branches of each.
An incentive refers to anything that motivates someone to achieve something or work harder. When it comes to workers, rewards and incentives at work are advantageous to both employers and employees. Employee morale, work happiness, and motivation may all be enhanced when employers recognize employees for their performance and productivity.
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cliff company traded in an old truck for a new one. the old truck had a cost of $79,000 and accumulated depreciation of $63,200. the new truck had an invoice price of $129,000. huffington was given a $12,640 trade-in allowance on the old truck, which meant they paid $116,360 in addition to the old truck to acquire the new truck. if this transaction has commercial substance, what is the recorded value of the new truck?
Answer:
The recorded value of new truck = $129,000
Explanation:
Market value of new truck = invoice price = $129,000
Book value of old truck = 79000-63200 = $15,800
Cash paid = $116,360
Loss = 15800+116360-129000 = $3,160
Now since transaction has commercial substance and there is loss on exchange, therefore New truck will be recorded for market value.
Hence recorded value of new truck = $129,000
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according to the expectations hypothesis, what is the market’s expectation of the yield curve one year from now? specifically, what are the expected values of next year’s yields on bonds with maturities of (a) one year? (b) two years? (c) three years?
a. The market’s expectation of the one-year interest rate three years from now is 11.01%
What is expectation hypothesis?The expectations hypothesis of the term structure of interest rates is the idea that the long-term rate is solely determined by the present and expected future short-term rates, such that the expected final value of wealth from investing in a series of short-term bonds will be equal to the final value of wealth from investing in long-term bonds.
According to expectations hypothesis, If market's expectation of 1-year rate three years from now is r, then :
(1 + 9%)∧3 * (1 + r)∧1 = (1 + 9.5%)∧4
a. r = 11.01%
The market’s expectation of the one-year interest rate three years from now is 11.01%
If the expected value of next year's yields on 1 year bonds is r, then :
(1 + 7.5%)∧1 * (1+ r)∧1 = (1 + 8.5%)∧2
b.a r = 9.51%
If the expected value of next year's yields on 2 year bonds is r, then :
(1 + 7.5%)∧1 * (1+ r)∧2 = (1 + 9%)∧3
b.b r = 9.76%
If the expected value of next year's yields on 3 year bonds is r, then :
(1 + 7.5%)∧1 * (1+ r)∧3 = (1 + 9.5%)∧4
b.c r = 10.17%
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at the reading of the will, you learn that your inheritance will allow you to receive the amount of $540 at the end of each year for a total of 11 consecutive years. however, because of your young age, these amounts will not begin until the end of 5 years. if the interest rate is 9.00%, what is the equivalent present value of the inheritance?
The equivalent present value of the inheritance is $2,388.37
The payout annuity formula:
P = C . [1 - (1 + r)⁻ⁿ] / r
Where P is the present value
C = periodic payment
r = interest rate per period
n = number of periods
In the given problem,
n = 11
C = $540
r = 9% = 0.09
Hence,
P = 540 . [1 - (1 + 0.09)⁻¹¹] / 0.09
= 3674.8
However, this present value of $3674.8 is the present value 5 years later, or the future value from now.
Use the future value formula:
FV = PV (1 + r)ⁿ
n = 5 years
3674.8 = PV (1 + 0.09)⁵
PV = 2388.37
Therefore, the equivalent present value of the inheritance is $2,388.37
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Read the following scenario. John James stopped the bus, bought a ticket for $2.00 and went for a drive to the countryside.
Identify if a market situation exists. Give reasons for your answer.
The market situation state of affairs phase of our plan consists of research and analysis of our target market, competition, enterprise challenges, and your company's competitive differentiators.
John James is an American businessman and political candidate. After graduating from the united states navy Academy, he served 8 years in the U.S. military, participating in multiple excursions of obligation inside the Iraq war. After leaving the military, James joined his family's delivery chain enterprise.
James ran as the Republican nominee for the U.S. Senate elections in Michigan in 2018 and 2020, losing the elections to Democratic incumbents Debbie Stabenow and Gary Peters, respectively. After dropping the 2020 race, James initially declined to concede and made claims of electoral fraud.
Despite their tandem paintings and capability to speedy and without difficulty find solutions to just about any obstacle thrown at them, the pair aren't associated in any manner.
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workers at the ito motor plant are willing to work long hours and put the company's success ahead of their own because they are from a(n) culture.\
Workers at the auto motor plant are willing to work long hours and put the company's success ahead of their own because they are from a collectivist culture
The wants and objectives of the group as a whole are prioritized over the needs and preferences of each individual in collective cultures. In such societies, each person's identity is fundamentally shaped by their connections to other individuals and their relationships with other group members.
In these civilizations, strong families and friendship groups are valued, and individuals are willing to sacrifice their own happiness or free time for the sake of others or the larger good of a group.
The appeal of collectivism is that, as a result of personal sacrifice, the group advances and gains. The drawback of collectivism is that it frequently results in the individual suppressing his or her own interests and failing to reach their full potential.
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six out of every ten jobs now require some postsecondary education and training, according to data reported by the eric clearinghouse on higher education
The correct answer is true
Higher education is postsecondary education that results in the award of a degree. After completing secondary school, there is an optional last step of formal study known as higher education, also known as post-secondary education, third-level education, or tertiary education. Numerous alternatives exist for postsecondary education, including public and private universities, colleges, community colleges, career and technical schools, vocational and trade schools, centers for continuing education, campus transition programs, and apprenticeship programs. Any degree you earn after completing high school is considered post-secondary. In other terms, a post-secondary degree is one that was earned following attendance at a higher school of learning. It could be a community college, a technical or vocational institution, or even a college for undergrads.
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1. when new employees arrive on the sales floor after training at hamilton department store, experienced employees have a tendency to say, "forget what you learned. this is how we really do it.
This is called Social Support. Social support improves one's quality of life and acts as a supportive social network against adversity.
The material and psychological resources offered by a social network to help people cope with stress are referred to as social support. Such social support can take many forms, including assisting an individual with various daily tasks when they are ill or providing financial assistance when they are in need. Social support is the perception and reality that one is cared for, that one can get help from others, and, most importantly, that one is part of a supportive social network.
Here is the complete question-
When new employees arrive on the sales floor after training at Hamilton department store, experienced employees have a tendency to say, "forget what you learned. this is how we really do it."
What is this?
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bruce is a cpa who operates his tax service business as a sole proprietorship. he files a joint tax return with his wife. their tax return reported $375,100 in taxable income and $395,000 in profit from the tax service, before the deduction for qualified business income (qbi). how much of the income from bruce's tax services is eligible for the qbi deduction?
The income from Bruce's tax services that is eligible for the qualified business income (QBI) is $216,065.
What is the qualified business income deduction?The IRS allows self-employed persons qualified business income (QBI) deductions.
The QBI deduction is 20% of business income.
Bruce's joint taxable income = $375,100
Profit from tax services = $395,000
Total taxable income in 2021 must be under $329,800 for joint filers.
Determining the Percentage for QBI:
$375,100 - $329,800 = $45,300
= 45.3% ($45,300 ÷ $100,000)
45.3% is not eligible for the QBI deduction
Qualified Business Income percentage = 54.7% (1 - 45.3%)
= $216,065 ($395,000 x 54.7%)
Amount of the QBI deduction = $43,213 ($216,065 x 20%)
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everything else held constant, an increase in the value of the dollar relative to all foreign currencies means that the price of american goods purchased by foreigners
Everything else held constant, an increase in the value of the dollar relative to all foreign currencies means that the price of American goods purchased by foreigners decreases.
What is exchange rate?The rate at which one currency will be exchanged for another is known as an exchange rate in the world of finance. It can also be thought of as the value of one currency in comparison to another. Money dealers will provide various purchasing and selling prices in the retail foreign exchange market. The ratio used to convert one currency into another is known as the exchange rate. It represents the cost of one currency reflected in another. Because currencies differ in value from one another, exchange rates are necessary.
The increase or decrease of the value of the dollar affects its exchange rate.
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a firm in a competitive market receives $1,040 in total revenue and has marginal revenue of $20. the firm's average revenue is $ , and units were sold.
The firm's average revenue is $20 in a competitive market and units sold is 50 units. Average revenue is same as Marginal Revenue.
Therefore, Average revenue is $20.Units sold = total revenue / average revenue= $1,040 / $20= $50A measure of a product's profitability based on how much money is made from each of its customers or subscribers is called average revenue per unit (ARPU). For businesses in the media and telecommunications sectors, which depend on subscribers or users, it is an especially helpful metric. Total income divided by the quantity of units, customers, or subscribers is the standard formula for calculating ARPU. Average revenue per person is another name for it. It may even be referred to as average income per SIM card by mobile phone service providers.
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outstanding checks have already been . multiple choice question. deducted from your cash balance per your books but not the bank balance added to the bank balance and not to your cash balance per your books deducted from the bank balance but not the cash per your books added to your cash balance per your books and not to the bank balance
Any items (outstanding checks, deposits in transit, etc.) that have been recorded in the business' general ledger accounts but have not yet shown up on the bank statement will be recognized as an adjustment to the amount per bank statement.
Deposits in transit are added to the balance per bank while pending checks are subtracted from it.
The items are marked as a modification to the amount per book if they appear on the bank account but have not yet been recorded in the books.
Charges for bank services, check-to-print, and other digital reductions that have not yet been reflected in the company's financial statements will be subtracted from the cash balance according to the books.
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a young first-time investor wants to put $10,000 of savings in an investment that she wants to see grow over many years. she intends to add to it in s
Class B shares the most suitable share class for this initial investment.
What is initial investment?
An initial investment is the amount of money required to open an account or establish a buy-in relationship. The word "initial investment" is most commonly employed in two distinct but connected industries: banking and long-term investment brokerage. To establish ownership of an account in banking, an investment in the form of an initial deposit is normally required. The same initial deposit in investing creates ownership, but it is frequently put down in the hopes of spurring future growth.
Back-end loads (sales costs) on B class shares are only payable when the shares are redeemed, and such sales charges normally dissipate over the first 5 to 7 years. Until they vanish totally, the investment is beneficial. As a result, B shares are generally best suited for smaller investments with a longer investing time horizon (where taking advantage of breakpoints is not a factor), such as this one.
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statistical discrimination results from ambiguous laws that allow this type of discrimination. firms having imperfect information regarding the actual productivity or skill of a potential employee. firms needing to make very quick judgments. firms hiring managers who explicitly favor some groups over others.
Due to unclear regulations that permit this kind of discrimination, statistical discrimination occurs. organizations with limited knowledge of a potential employee's actual productivity or expertise.
The required details for statistical discrimination in given paragraph
Due to the lack of information that businesses have about potential employees, they base their assessment of a candidate's productivity level on either their gender or race, depending on the statistics that pertain to that groups.
These statistics are frequently the result of previous prejudice that made the group's members less productive, but they are occasionally still applied. As an illustration, a woman who is applying for a job might not be selected because it is thought that she would need more paid sick days than a guy.
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companies that report inventory using the lifo method must report the difference between the lifo cost and fifo cost of its inventory. this difference is commonly called the lifo reserve.
It is a true statement that companies that report inventory using the lifo method must report the difference between the lifo cost and fifo cost of its inventory; and this difference is commonly called the lifo reserve.
What is a LIFO reserve?In cost accounting, a LIFO reserve refers to the accounting term that measures the difference between the first in, first out (FIFO) and last in, first out (LIFO) cost of inventory for bookkeeping purposes.
The main benefits of the LIFO reserve is that it allows the investors and analysts to compare companies that use different accounting methods equally. However, it also allows a comparison between LIFO and FIFO and the ability to understand any differences including how taxes might be impacted.
Full sentence "companies that report inventory using the lifo method must report the difference between the lifo cost and fifo cost of its inventory. this difference is commonly called the lifo reserve. True/False"
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When great britain voted to leave the euro- zone, the pound depreciated 17% against the dollar. it also raised fears that the eurozone would fall apart. explain how this fear would affect the euro/dollar exchange rate.
If there is a fear of Eurozone breaking apart due to Brexit, demand for European currency may either increase or decrease.
These fears would cause the demand for dollars to decrease or increase, and the supply of dollars to increase or decrease, leading to a decrease or increase in the euro/dollar exchange rate.
What causes demand and supply of currency?Changes in the expected rate of return causes demand and supply for a currency. When rates of return in a country seems relatively high, then such country will attract funds from abroad. However, when rates of return in a country seems low, then funds will flee to other economies.
Therefore, the correct answer is as given above.
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Gregg company uses the allowance method for recording its expected credit losses. It estimates credit losses at three percent of credit sales, which were $900,000 during the year. On december 31, the accounts receivable balance was $150,000, and the allowance for doubtful accounts had a credit balance of $12,200 before adjustment. A. Prepare the adjusting entry to record the credit losses for the year b. Show how accounts receivable and the allowance for doubtful accounts would appear in the december 31 balance sheet.
A. At the end of a bookkeeping period, a section in a company's common record called a "adjusting journal entry" is created to record any unrecognised pay or expenses for the period.
B. Since a provision for doubtful accounts reduces the total value of a resource, in this case the accounts receivable, it is referred to as a "contra asset."
What is doubtful accounts?Money owed by customers to a company is referred to as a doubtful account. The only problem is that the business doesn't anticipate receiving the money. (It is "doubtful " that you will collect.)
The phrase can also be used to describe an account that is currently a reserve but could eventually turn into a bad debt because it hasn't reached the point where it can be written off. All types of businesses consistently face the challenge of managing doubtful debt.
A ) Adjusting entry
The adjusting entry to record the credit losses for the year is :
Bad debt expense Dr, $27,000
To Allowance for Doubtful Accounts Cr. $27,000 ($900,000 × 3%)
(To record accounts deemed to be uncollectible)
B ) December 31 balance sheet
Accounts Receivable $150,000
less: Allowance for Doubtful Accounts $39,200 ($12,200 + $27,000)
Net accounts receivable $110,800
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a pay adjustment matrix considers two factors—the employee's level of performance as rated in an appraisal and the employee's position in the pay range, which is often related to experience and tenure.
The employee's position within the salary range and their level of performance as determined by an appraisal (their current pay-level quartile),
How would you classify your employees?Employees are divided into two categories: tasks that are mission-critical and tasks that are not mission-critical. This classification is crucial for determining future needs for resources, such as the purchase of PPE and training, according to Phelps.
What does a level employee do?There are some characteristics that "A" level workers share. They are really engaged and feel a connection to the business. They eagerly anticipate going to work and, for the most part, take pleasure in their employment. They are aware of what to do in the event of failures and losses.
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Question 2 (1 point)
If you wanted to make sure a company has enough money available to pay its bills, which financial statement would be most helpful?
A Balance sheet
B. Income statement
C. Statement of owners' equity
D. Cash flow statement