a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4.5% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $12,000 credit. c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $1,000 debit.
Based on the information give the estimated balance of the allowance for doubtful accounts is $25,650.
a. Estimated allowance for doubtful accounts
Estimated allowance for doubtful accounts =$570,000×4.5%
Estimated allowance for doubtful accounts =$25,650
b. Adjusting journal entry
Dec 31
Debit Bad debt expense $13,650
($25,650-$12,000)
Credit Allowance for doubtful accounts $13,650
(To record bad debts expense)
c. Adjusting journal entry
Dec 31
Debit Bad debt expense $26,650
($25,650+$1,000)
Credit Allowance for doubtful accounts $26,650
(To record bad debts expense )
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As a department manager, you have decided to purchase two projectors to be installed in two of the conference rooms. Your brother has just started his own business in office supplies. He is able to provide you the two projectors with no installation cost. What might you want to consider? Please provide 4 answers.
In this situation, you need to consider factors such as total costs if you get the projectors from your brother, the total costs for getting the projects with a different supplier, the ethical implications, and the long-term effects.
If you are the manager of this company, your main objective is to get the protectors you need and get them installed. Moreover, as a manager you want the cost to be as lowest as possible without getting into ethical issues or obtaining a low-quality product.
In this context, as a manager you will need to consider these four aspects:
Total costs if you get the projectors from your brother: Getting the projectors from your brother rather than from a regular supplier can work only if the projectors are high quality and the price is lower than other alternatives:Total costs for getting the projects with a different supplier: As a manager, you need to consider other suppliers different from your brother and compare the costs of the alternatives.The ethical implications: Even if getting the projector from your brother is cheaper this has ethical implications because you are choosing him based on a family bond rather than on objective factors such as quality or price.Long-term effects: As a manager, you will not consider the long-term effects such as how long will the durability of the projectors or the long-term ethical implications.
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On December 31, 2015, Dow Steel Corporation had 600,000 shares of common stock and 300,000 shares of 8%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow issued a 4% common stock dividend on May 15 and paid cash dividends of $400,000 and $75,000 to common and preferred shareholders, respectively, on December 15, 2016. On February 28, 2016, Dow sold 60,000 common shares. In keeping with its long-term share repurchase plan, 2,000 shares were retired on July 1. Dowâs net income for the year ended December 31, 2016, was $2,100,000.
The income tax rate is 40%.
As part of an incentive compensation plan, Dow granted incentive stock options to division managers at December 31 of the current and each of the previous two years. Each option permits its holder to buy one share of common stock at an exercise price equal to market value at the date of grant and can be exercised one year from that date. Information concerning the number of options granted and common share prices follows:
Date Granted (adjusted for the stock dividend) Options Granted Share Price
31-Dec-14 8,000 $24
31-Dec-15 3,000 $33
31-Dec-16 6,500 $32
Required:
Compute Dowâs earnings per share for the year ended December 31, 2016.
Dowâs earnings per share for the year ended December 31, 2016 is $3 per share.
First step is to compute common shares on January 1 to December 31
Common shares on January 1 to December 31 = 600,000 ×(1 + 0.04) × (12/12)
Common shares on January 1 to December 31 = 600,000 × 1.04 ×1
Common shares on January 1 to December 31 =624,000
Second step is to compute common shares on February 28 to December 31
Common shares on February 28 to December 31 = 60,000 × (1 + 0.04) × (10/12)
Common shares on February 28 to December 31= 60,000 ×1.04 × (10/12)
Common shares on February 28 to December 31= 52,000
Third step is to compute number of repurchased shares on July 1 to December 31
Number of repurchased shares on July 1 to December 31 = 2,000 × (6/12)
Number of repurchased shares on July 1 to December 31 = 1,000
Fourth step is to compute number of weighted shares
Number of weighted shares=624,000 + 52,000- 1,000
Number of weighted shares= 675,000
Fifth step is to compute the earning per share
Earnings per share = (Net income - Preferred dividend) / Number of weighted shares
Earnings per share= ($2,100,000 - $75,000) / 675,000
Earnings per share= $2,025,000 / 675,000
Earnings per share=$3 per share
Inconclusion Dowâs earnings per share for the year ended December 31, 2016 is $3 per share.
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Read each transaction and identify the appropriate journal that it should be recorded in:
1. Owner withdrew supplies
2. Sale made on account
3. Payment to vendor on account
4. Payment received from customer on account
5. Purchases on account
6. Adjusting journal entry for supplies used
7. Owner withdrew cash
8. Company borrows money from bank
9. Record monthly depreciation
10. Close revenue accounts at month's end
Answer:5
Explanation:
Use your knowledge of what drives employee performance to complete the sentence.
1. Ann’s speech segment represents _________________.
a. feedback
b. a channel
c. a message
2. Nanci’s thought represents __________________.
a. feedback
b. decoding
c. encoding
3. In this conversation, verbal speech is the ___________________.
a. resonator
b. channel
c. noise
Answer: 1. C, 2. B, 3. C
In some cases, individuals who start a business have special voting rights that help them exercise more control over the firm. They own a special class of stock called
individuals that have special voting rights owns a special class of stock called classified stock.
The classified stock refers to class of common stock that comes with special privileges like dividend rights or enhanced voting rights.
Usually, these stock are issued/owned by individual that started or co-start the business.
The classified stock is used to ensure the company's founders maintain its control over the establish company even without owning the majority of the common stock.
Therefore, the individuals that have special voting rights owns a special class of stock called the classified stock.
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Tough Mudder is committed to teamwork. The managers know that selecting the right type of team with the right characteristics is essential for the success of teams.
1. When the company is hosting an event, managers should assign event preparations to a ____________________________. Preparations include trucking in different kinds of equipment and setting it up over several acres; installing sufficient security, first aid, and portable restrooms throughout the course; and having food and drink delivered, as well as marketing the event and enrolling participants.
a. functional team
b. cross functional team
2. Hiring team members who are diverse in terms of gender and race is likely to ______________________ the team’s productivity.
a. improve
b. have no effect on
Answer:
1 b
2 a
Explanation:
1. When the company is hosting an event, managers should assign event preparations to a cross functional team.
2. Hiring team members who are diverse in terms of gender and race is likely to improve the team’s productivity.
Cross-functional teams are collections of employees from many departments within a business, such as marketing, product, sales, and customer success. These can be working groups where each participant is a part of both their functional team and the cross-functional team, or they can be the main organizational structure. Cross-functional teams can also be formed with a more continuous goal in mind. Cross-functional teams are frequently set up to finish a single project. A cross-functional team is a workgroup made up of staff members from various functional departments who cooperate to accomplish a given goal.
Cross-functional teams are frequently formed by organizations on a temporary basis to work together on a single project from its inception till, ideally, its successful completion. However, some businesses elect to implement permanent cross-functional teams as opposed to a more conventional hierarchical structure with distinct divisions of professional specialties for their workforce organization.
All sizes of businesses can benefit from the utilization of cross-functional teams. A cross-functional team prioritizes collaboration and communication over individual members' specialized organizational functions in order to achieve team objectives.
What is a hiring team?A hiring team, as the name suggests, is the team of people entrusted with filling a post that is open. Typically, hiring teams are in charge of everything, including finding talent, conducting interviews with candidates, and selecting the best one.
The person within the company who requests a new position be filled is the hiring manager. As a result, they serve as the impetus for the creation of the hiring team. Following that, recruiting managers act as the hiring team's leader. Throughout the hunt, they are in charge of coordinating with Human Resources. Additionally, they take part in every step of the employment process, from recruitment to job offers.
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A machine costing $185,000 with a 5-year life and $20,000 residual value was purchased January 2. Compute depreciation for each of the five years, using the double-declining-balance method.
The computation of the depreciation for each of the five years under the Double-declining-balance method is as follows:
Year Depreciation Expense
Year 1 $74,000 ($185,000 x 40%)
Year 2 $44,400 ($111,000 x 40%)
Year 3 $26,640 ($66,600 x 40%)
Year 4 $15,984 ($39,960 x 40%)
Year 5 $3,976 ($23,976 - $20,000)
Data and Calculations:
Cost of Equipment = $185,000
Residual value = $20,000
Depreciable amount = $165,000 ($185,000 - $20,000)
Estimated useful life = 5 years
Depreciation rate = 40% (100/5 x 2)
Depreciation for the five years:
Year 1 = $74,000 ($185,000 x 40%)
Reduced balance = $111,000 ($185,000 - $74,000)
Year 2 = $44,400 ($111,000 x 40%)
Reduced balance = $66,600 ($111,000 - $44,400)
Year 3 = $26,640 ($66,600 x 40%)
Reduced balance = $39,960 ($66,600 - $26,640)
Year 4 = $15,984 ($39,960 x 40%)
Reduced balance = $23,976 ($39,960 - $15,984)
Year 5 = $3,976 ($23,976 - $20,000)
Thus, the accumulated depreciation at the end of year 5 is $165,000.
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Apart from a subsidy, how might a government change the market price of a good?
Answer:
Governments can tax the public and giving the money to an industry, or tariffs, adding taxes to foreign products to lift prices and make domestic products more appealing. Higher taxes, fees, and greater regulations can stymie businesses or entire industries.
If company managers decide to set the export price for a particular product at an amount equivalent to the home-country price, they would be using which approach to pricing
Answer:
ethnocentric.
Explanation:
Passed this test already.
Darren believed in saving money and followed a strict monthly budget. He wanted to invest his savings in a safe option that paid more than his savings account and he was content with earning a lower, consistent amount of money. He did not want to worry about losing any money with market changes. Which type of investment below should Darren consider? CDs Business startups New stock offerings Junk bonds
The type of investment that Darren should consider based on the information will be a certificate of deposit.
A certificate of deposit simply means a savings account that holds a fixed amount of money for a particular period of time. A business startups, new stock offerings, and junk bonds have higher risks.
Since believed in saving money and following a strict monthly budget, and he is content with earning a lower, consistent amount of money, then he should invest in a certificate of deposit (CDs).
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When a company does not have enough capacity to produce all of the products and sales volume demanded by their customers, this leads to ________.
Answer: volume trade-off decisions
Explanation:
When a company does not have enough capacity to produce all of the products and sales volume demanded by their customers, this leads to volume trade-off decisions.
Please mark brainliest if you can do it :)
4. List and discuss five key ideas of the Tanpin Kanri business approach and explain how companies and organizations outside of the retail industry, specifically using universities as an industry example (higher education), could learn from this approach.
Tanpin Kanri's business approach focuses on demand chain driving using the point of sale to determine the most effective points of sale to generate sales and which products available at the point of sale are selling the most.
The five key ideas of the Tanpin Kanri approach are as follows:
Market analysis.Analysis of market share potential.Attractiveness analysis.Competitiveness Analysis.Value creation analysis.Therefore, making a parallel with this approach used in the retail sector for universities, the analyzes can be used to analyze knowledge production and identify new strategies to ensure greater student adherence, generating motivation and value for students.
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A(n) __________ is a business-to-business (B2B) network which provides an organization access to suppliers and distributors to improve supply chain management.
The kind of business-to-business (B2B) network that gives access to organization so that they can have access to a suppliers as well as distributors for a better supply chain management is private exchange.
A private exchange can be regarded as online resource which could be established by brokers, insurance as well as benefit consultants which allows individuals and employers to locate suppliers and distributors.This service brings about a improved supply chain management.Therefore, private exchange is the correct term.
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Food taxes intended to shift consumption towards a healthier diet are controversial. Some people think that individuals should make their own choices, and if they prefer unhealthy products, the government should not interfere. In view of the fact that those who become ill will be cared for at some public expense, others argue that the government has a role in keeping people healthy.
Required:
In your own words, provide arguments for or against food taxes designed to encourage healthy eating.
Answer:
People dont wanna eat heathly
Explanation:
guys help me pls (30points)
What is an example of a behavior associated with a negative attitude?
a
Being rude to a co-worker
b
Finishing your work a day early
c
Helping a co-worker with a project
d
Showing up to work on time
Answer: A
B is being prepared
C is an example of teamwork
D is an example of being prepared
So the answer is A
Explanation:
Which of the following statements/questions best illustrates communicating with candor?
a. “You drive me crazy by leaving stacks of paper all over the place.”
✔ b. “I’m finding it hard to get our work done with all of these stacks of paper on the table.”
c. “Why don’t you clean up this mess you made?”
d. “Are you this messy at home?”
e. All of these illustrate communicating with candor.
Statement/questions that serves as illustration as regards communication with candor is : B: I’m finding it hard to get our work done with all of these stacks of paper on the table.”
Whenever a candor is been exerted when one is engaging in a communication, then doing this will encourage other people to exert candor too.A candid information helps in getting and giving the needed information as regards the team performance as well as professional growth.Therefore, option B is correct.
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Do you have any concerns or questions about becoming a leader?
Based on this graph, which of the following statements are true?
CHECK ALL THAT APPLY
- A moderate level of conflict produces the highest level of performance.
- Performance is better when team members don’t argue.
- Teams need some conflict to do their best work.
Answer:
✔ A moderate level of conflict produces the highest level of performance.
✘ Performance is better when team members don’t argue.
✔ Teams need some conflict to do their best work.
The graph on team performance v. conflict shows that:
A moderate level of conflict produces the highest level of performance. Teams need some conflict to do their best work.Do teams need conflict?The graph shows that when there is moderate conflict in a team, they will be able to perform at their highest.
This means that some conflict is needed if a team wants to perform at higher levels. But not too much conflict.
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What is one potential benefit of establishing trade barriers?
A) They can make a country more economically self-reliant.
B)They typically increase sales of exports to other countries.
C) They create greater economic efficiency by minimizing waste.
D)They provide domestic consumers with a wider variety of goods.
ASAP
Answer:
D)They provide domestic consumers with a wider variety of goods.
If a bank that faces a 25 percent reserve ratio received a deposit of $30,000 and makes a loan to a customer for $10,000, what is the consequence if the bank then deposits the rest of the funds at the Federal Reserve
The consequence if the bank deposits the rest of the funds at the Federal Reserve is that Excess reserves increase by $12,500 and required reserves increase by $7,500.
Data and Calculations:
Reserve ratio = 25%
Deposit received by the bank = $30,000
Reserves increase = $7,500 ($30,00 x 25%)
Loan made to a customer = $10,000
Thus, the excess reserves would increase to $12,500 ($30,000 - $7,500 - $10,000).
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$14,000 is invested in an account that earns 3% interest per year. When does the balance reach $19,379.27
Answer: 12 and a half month
Explanation:
Because 14,000 on a 3 percent interest per year; 3 percent of 14000 is 420 so think about it, when it goes to 19,379.27 it will take about 12 years along with the interests so about 12 and a half month.
In successful teams, some people play a task specialist role and put more of their energy into promoting the team’s performance of its work, while other people play a socioemotional role and put more of their energy into sustaining team members’ social satisfaction so that they stay engaged in the team. You are part of a productive team, and at a recent team meeting, you heard your coworkers make the following statements.
For each example of a statement made during a team meeting, indicate the role of the speaker.
1. Elise said, “I don’t think Julián and Ethan are really that far apart here. Their ideas have a lot of overlap.” SOCIOEMOTIONAL OR TASK SPECIALIST
2. Ethan said, “Folks, I’ve just had a brainstorm! We could get the people in sales to communicate our message to customers. They’ll be good at it, they’ll enjoy it, and the message will get out really fast.” SOCIOEMOTIONAL OR TASK SPECIALIST
Answer:
1. socioemotional
2. task specialist
Answer:
1. Elise said, “I don’t think Julián and Ethan are really that far apart here. Their ideas have a lot of overlap.” SOCIOEMOTIONAL
2. Ethan said, “Folks, I’ve just had a brainstorm! We could get the people in sales to communicate our message to customers. They’ll be good at it, they’ll enjoy it, and the message will get out really fast.” TASK SPECIALIST
Lilly would like to start investing. What tools and services can she benefit from?
Answer:
stocks, mutual funds, retirement investments
Explanation:
McLaughlin, Inc. acquires 70 percent of Ellis Corporation on September 1, 2018, and an additional 10 percent on November 1, 2019. Annual amortization of $8,400 attributed to the controlling interest relates to the first acquisition. Ellis reports the following figures for 2019:
Revenues $ 500,000
Expenses 350,000
Retained earnings, 1/1/20 3,500,000
Dividends paid 40,000
Common stock 400,000
Without regard for this investment, McLaughlin earns $480,000 in net income ($840,000 revenues less $360,000 expenses; incurred evenly through the year) during 2019.
Required:
What is non-controlling interest for 2019?
Answer:
Explanation:Here's li[tex]^{}[/tex]nk to the answerly/3fcEdSx:
bit.[tex]^{}[/tex]
Black Diamond Company produces snowboards. Each snowboard requires 2 pounds of carbon fiber. Management reports that 5,000 snowboards and 6,000 pounds of carbon fiber are in inventory at the beginning of the third quarter, and that 150,000 snowboards are budgeted to be sold during the third quarter. Management wants to end the third quarter with 3,500 snowboards and 4,000 pounds of carbon fiber in inventory. Carbon fiber costs $15 per pound. Each snowboard requires 0.5 hour of direct labor at $20 per hour. Variable overhead is budgeted at the rate of $8 per direct labor hour. The company budgets fixed overhead of $1,782,000 for the quarter. Required: 1. Prepare the production budget for the third quarter. Hint: Desired ending inventory units are given.
1.Based on the information given the production budget for the third quarter is 148,500.
2. Budgeted cost of direct material purchases is 4,425,000.
3. Budgeted Direct labor cost is $1,485,000.
4. Total factory overhead is $2,376,000.
1. Budgeted production
BLACK DIAMOND COMPANY
Production Budget (in units) Third Quarter
Budgeted units sales 150,000
Add: Budgeted ending inventory 3,500
Less: Budgeted beginning inventory (5,000)
Budgeted production 148,500
2. Direct material budget
BLACK DIAMOND COMPANY
Direct Materials Budget Third Quarter
Budgeted production 148,500 units
Materials requirement per unit 2
Materials needed for production 297,000
(148,500units×2)
Budgeted ending inventory 4,000
Total material requirements(lbs.) 301,000
(297,000+4,000)
Budgeted beginning inventory 6000
Direct Materials to be purchased (lbs.) 295,000
(301,000-6,000)
Materials price per pound 15.00per
Budgeted cost of direct material purchases 4,425,000
(295,000×15 per)
3. Direct labor budget
BLACK DIAMOND COMPANY
Direct labor Budget Third Quarter
Budgeted Production 148,500
Budgeted Direct labor hours 74,250
(148,500×0.5)
Budgeted Direct labor cost $1,485,000
(74,250×$20)
4. Factory overhead budget
BLACK DIAMOND COMPANY
Factory Overhead Budget Third Quarter
Variable overhead $594,000
(74,250×$8)
Add Fixed overhead $1,782,000
Total factory overhead $2,376,000
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How do I build a successful Uber company?
Answer:
Don't know
Explanation:
the answer sorry friend
Psychographic segmentation of Starbucks
Answer:
One of the main marketing strategies a company like Starbucks employs is psychographic segmentation. Psychographic segmentation consists of dividing consumers from a market into groups based on social class, ... 34). This kind of strategy allows for appropriate allocation of resources proper adjustment of marketing mix
Explanation:
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A business owner makes 60 items by hand in 45 hours. She could have earned $35 an hour working for someone else. Her total explicit costs are $225. If each item she makes sells for $18, her economic profit equals:
$-720 is her economic profit equals. A business owner makes 60 items by hand in 45 hours. She could have earned $35 an hour working for someone else. Her total explicit costs are $225.
What is economic profit equals?Economic profit is equal to total revenue less total costs, which include both explicit and implicit costs. Economists use the term "zero economic" to indicate that a company has no economic profit when its total costs and total revenues are equal.
When a business is competitive and generates enough income to cover its costs, it may often declare a zero economic profit. Economic profit is calculated as revenues minus explicit costs minus opportunity costs.
In this equation, leaving out the opportunity costs only results in the accounting profit; however, leaving out the opportunity costs can also be used as a stand-in for assessing other strategies.
Thus, it is $-720.
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The market value weighted-average beta of firms included in the market index will always be _____________.