Answer:
Bad Debt Expense = Debit of $33,900; Allowance for Doubtful Accounts = Credit of $33,900
Explanation:
Bad Debt Expense = Debit of $33,900; Allowance for Doubtful Accounts = Credit of $33,900
Should the firm make the following adjusting entries:
Bad Debt Expense = Debit of $33,900; Allowance for Doubtful Accounts = Credit of $33,900
What is Bad Debt Expense?When a receivable is no longer collectible because a customer is unable to fulfil their obligation to pay an outstanding debt due to bankruptcy or other financial problems, a bad debt expense is recognized. For example, if a company with $2,000,000 in sales expects 2% of sales to be uncollectible, their bad debt expense would be $40,000 ($2,000,000 * 0.02). Consider a roofing company that agrees to replace a customer's roof on credit for $10,000. A bad debt is any loan or outstanding balance that a company considers uncollectible. Bad debt is normal and expected for businesses that provide loans and credit to customers. There will almost certainly be customers who are unable to repay their debts.Therefore,
Should the firm make the following adjusting entries:
Bad Debt Expense = Debit of $33,900; Allowance for Doubtful Accounts = Credit of $33,900
When a firm's allowance account has a debit balance, the firm must add the debit balance ($8,750) to the required balance ($25,150) when making the adjusting entry (resulting in a credit of $33,900). The same amount should be deducted from the Bad Debt Expense.
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The world of global logistics can be rather complex. As a result, companies sometimes need assistance in moving their products around the world. Suppose ford, an american company, manufactured cars in the usa but was going to send them to italy. What type of logistics intermediary is instrumental in helping ford create a logistics plan to get their cars out of the united states?.
The type of logistics intermediary that will be instrumental in helping Ford to create a logistics plan to get their cars out of the United States into Italy is E. Freight Forwarder.
Who is a Freight Forwarder?A freight forwarder is a company that acts on behalf of importers, exporters, or other companies to ensure the safe, efficient, and cost-effective movement of goods, especially outside the exporter's country.
The logistics intermediary that will create a logistics plan for Ford is not a Longshoreman, Dispatcher, Customs house broker, FTZ, Customs agent, or Incoterm.
Answer Options:A. Longshoreman
B. Dispatcher
C. Customs house broker
D. FTZ
E. Freight Forwarder
F. Customs agent
G. Incoterm
Thus, the type of logistics intermediary that will be instrumental in helping Ford to create a logistics plan to get their cars out of the United States into Italy is E. Freight Forwarder.
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A strategy of ________ will be most beneficial for a firm to enhance its overall corporate performance.
Answer:
A strategy of related-linked diversification will be most beneficial for a firm to enhance its overall corporate performance.
Your annual budget to hire a social media team is $620,000. If each member on the team is paid $18/an hour and works a total of 2,040 hours per year, how many members can you hire for the team?
The number of team members you can hire based on your annual budget of $620,000 for the social media team is 16.
What is budgeting?Budgeting is the process of making a financial estimate of expected revenue and expenditure for a period.
Budgeting ensures that sufficient funds are made available and spending does not exceed the budgeted amount.
Data and Calculations:Annual budget for media team = $620,000
Member's rate per hour = $18
Total hours worked per year by a member = 2,040
A member's earnings per year = $36,720 ($18 x 2,040)
The number of team members to hire =16.9 ($620,000/$36,720)
Thus, the number of team members to hire for the social media team is 16.
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Select the correct answer.
Ichika is writing a thank-you letter to an interviewer. Which statement should go in the beginning of Ichika's letter?
OA. In this letter, I am enclosing a sample of the index card layout that I mentioned during the interview.
OB.
I am very eager to join the Lexo Library and work with the head librarian and other team members.
Oc. Thank you for meeting me last Monday and considering me for the assistant librarian position.
OD. My knowledge of Indexing techniques will be a great asset for the new section your library plans to add.
Answer:
C. Thank you for meeting me last Monday and considering me for the assistant librarian position.
Explanation:
New balance, inc. , successfully repositioned its athletic shoes to focus on fit, durability, and comfort rather than competing head-on against nike and adidas on fashion and professional sports. new balance is likely reacting to a.
The action of New Balance, Inc. to successfully reposition its athletic shoes to focus on fit, durability, and comfort rather than competing head-on against Nike and Adidas in fashion and professional sports is A. a reaction to a competitor's position.
What is competitive positioning?Competitive positioning is offering and creating value for your customers and brand in the market.
The following four competitive positions can be assumed by an entity, depending on the adopted market strategies:
Market leadershipMarket challengingMarket followershipMarket niching.Answer Options:A. react to a competitor's position
B. reach a new target market segment
C. catch a rising trend
D. change the value offered to its customers
E. accommodate its target audience's preference for comfortable sneakers
Thus, New Balance, Inc. is likely reacting to Option A.
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Why are most economies in the world today considered mixed economies?.
Answer:
Why are most economies in the world today considered mixed economies? Most economies are considered mixed because most have some portion of the means of production under government control. Most economic systems also have some element of the market or capitalism.
Explanation:
Have a great day!
#EquestrianLion
CAN SOMEONE WITH SOME BUSINESS KNOWLEDGE HELP ME PLEASE!
The main business functions and their roles.
Review questions
1. Which business function is concerned with ensuring that products are produced to meet the quality standards expected by customers?
2. Name the business function involved in developing and selling products that meet customer needs.
3. Which sector is involved in making sure that the company has the employees it needs to run its operations?
4. Which business function is responsible for ensuring that the company has the funds it needs to carry out its operations?
5. Which business department is responsible for ensuring that employees are adequately compensated (salary-wage)?
6. Name the business function that must ensure that the correct quantity of a good or service is produced.
7. Which sector is responsible for researching and determining the wants and needs of different groups of consumers?
8. The management of the company wants to provide an extra benefit to its employees, other than a salary increase, for example, offering cafeteria and/or cafeteria service. What type of information should be consulted with each sector (HR, OPERATIONS, FINANCE AND MARKETING)?
THANK YOU FOR AT LEAST READING IT
Answer:
marketing is the business functions involved in developing and selling products that meet customer's need.
Corinne works in procurement for a major electronics company. One of her challenges is ensuring that raw metals, such as tungsten, coltan, and tantalum, are not being sourced from mines whose profits are used to finance war lords and terrorists. She’s very excited to work with a new company that uses _______, an incorruptible digital recordkeeping system to track these precious metals from mine to manufacturer to ensure they are not "conflict metals. ".
Corinne is very excited because she works with a new company that uses due diligence to track these precious metals from mine to manufacturer to ensure they are not "conflict metals. ".
What is Due Diligence?This refers to the conscious steps which a person takes in order to ensure that he is not committing an offense or taking a good background check.
Hence, we can see that because of Corinne's work with a major electronics company, she is charged with doing due diligence on the raw materials to ensure that they are not "conflict metals. ".
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When profit targets are set by top managers, ______. Multiple select question. goals may be unrealistically high employee motivation will increase strategic direction may be insufficient too much slack may be allowed
When profit targets are set by top managers, goals may be unrealistically high and
too much slack may be allowed.
What is profits target?A profit target is that amount or point where an investor or organization will get to and they would have harness or get their profits over an investment.
At this point, the organization may exit the business but the target must be realistic.
Therefore, When profit targets are set by top managers, goals may be unrealistically high and
too much slack may be allowed.
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Which form do independent contractors receive from clients to verify income
received during the year?
a. w-2
b. w-4
c. 1040
d. 1099
Answer:
1099
Explanation:
got it right
Answer:
D.1099
Explanation:
If the quantity supplied is greater than the quantity demanded, what must happen to the price in order to reach
equilibrium?
Answer:
the price of the product will decrease to meet equilibrium
Explanation:
in order to meet it, it has to decrease.
Answer:
The price of the product will decrease to meet equilibrium.
Explanation:
The price of the product will increase to meet equilibrium.
The price of the product will decrease to meet equilibrium.
Supply and demand must be raised.
Supply and demand must be lowered.
When costs to purchase inventory are rising, using LIFO leads to reporting ______ cost of goods sold and ______ net income than FIFO.
When costs to purchase inventory are rising, using LIFO leads to reporting lower cost of goods sold and higher net income than FIFO.
LIFO and FIFOLIFO means last in last out while FIFO represent first in first out. In a situation were price of goods and service are falling using LIFO tend to assume that the newer and less expensive inventory is sold out first.
This tend to lead to lower cost of goods sold and higher net income.
Inconclusion when costs to purchase inventory are rising, using LIFO leads to reporting lower cost of goods sold and higher net income than FIFO.
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A concentration of minerals that could now be legally mined at a profit is called a.
Answer:
Reserve. resource
Explanation:
concentration of natural minerals in or on the crust of the Earth with potential to be extracted for profit.
Schaad corporation has entered into an eight-year lease for a piece of equipment. the annual payment under the lease will be $2,500, with payments being made at the beginning of each year. if the discount rate is 14%, what’s the present value of the lease payments? ignore income taxes in this problem.
If the discount rate of the eight-year lease for a piece of equipment entered by Schaad Corporation is 14% with an annual lease payment of $2,500, the present value of the lease payments is $13,220.76.
How is the present value of lease payments determined?The present value (PV) of lease payments can be determined by computing the discount factor of 14% for 8 years and multiplying it with the annual lease payment.
The present value can also be computed using the PV table or the PV formula.
However, for this exercise, we have used an online finance calculator to determine the PV as follows:
Data and Calculations:N (# of periods) = 8 years
I/Y (Interest per year) = 14%
PMT (Periodic Payment) = $2,500
FV (Future Value) = $0
Results:
PV = $13,220.76
Sum of all periodic payments = $20,000 ($2,500 x 8)
Total Interest = $6,779.24
Thus, if the discount rate of the eight-year lease for a piece of equipment entered by Schaad Corporation is 14% with an annual lease payment of $2,500, the present value of the lease payments is $13,220.76.
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Many companies around the globe voluntarily report their efforts in promoting environmental sustainability using the guidelines developed by the ________.
Environmental sustainability is promoted by many companies around the globe, using the guidelines developed by the Global Reporting Initiative.
What is environmental sustainability?Environmental sustainability refers to the capability of our environment to maintain all the biological systems and resources that support the living organisms on our Earth.
Environmental sustainability is important because of how much energy, food and human-made resources we use every day.
Hence, environmental sustainability is promoted using the guidelines developed by the Global Reporting Initiative.
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Zion co. Sells $100 of merchandise and collects $10 sales tax. The sales tax is recorded to which account?.
If Zion sells merchandise and collects sales tax, The account that the sales tax is going to be recorded is what is known as the sales tax payable.
What is the sales tax payable?The account is a liability account that acts as a storage of sales tax that a firm has gotten from their customers on behalf of the tax authority of a country.
The business is the one that holds the money and they have to remit to the government on the required dates.
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Use your knowledge of the leadership grid to select the correct management style for each description.
The most appropriate management style for description A would be Country Club Management because they are related in different ways.
What is leadership grind?Leadership grind is a text published in 1964 by Robert Blake and Jane Mouton. In this text, forms of management are classified as a tool for company managers to develop a management style.
One of the management styles proposed in this book is the country club manager, who is characterized by focusing his concern on the people who make up his work group, not worrying about production. This produces a comfortable work environment with poor performance.
Based on the foregoing, the most appropriate style for description A. would be Country Club Management, since it would foster a good work environment without looking at the team's results.
Note: This question is incomplete because there is some information missing. Here is the complete information:
A. Thoughtful, attention to people's needs for satisfying relationships leads to a comfortable and friendly organizational atmosphere and work pace.
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Allen Enterprises receives a $4,500, 5%, six-month note receivable from Wells Manufacturing. Allen also receives a $6,000, 4%, six-month note receivable from Felde Incorporated. What is the cash realizable value if Allen estimates bad debts as 2% of total notes receivable?
The cash realizable value from the two notes receivable if Allen Enterprises estimates bad debts as 2% of total notes receivable is $10,732.50
What are notes receivables?Notes receivables are treated as assets because they give the holder a right to receive some future value based on the givers' promises.
They usually attract some interests.
Data and Calculations:Notes Receivable Interest Total amount
A $4,500 $112.50 ($4,500 x 5% x 1/2) $4,612.50
B $6,000 $120 ($6,000 x 4% x 1/2) $6,120.00
Interest rate for Note A = 5%
Interest ratae for Note B = 4%
Maturity period for Notes A and B = 6 months
Estimated bad notes = $210 (10,500 x 2%)
Thus, the cash realizable value from the two notes receivable if Allen Enterprises estimates bad debts as 2% of total notes receivable is $10,732.50 ($4,612.50 + $6,120).
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What type of account is sales returns and allowances?.
Answer:
contra revenue account
PLS HELP FAST!! WILL GIVE THE BRAINLIEST!!! 25 POINTS!!! You have just read several theories about the causes of crime, and seen examples of how those theories might be used to prevent crime.
Which of these theories makes the most sense to you? Why?
Which of these theories made the least sense to you? Why?
The three major sociological theories which are the interactionist perspective, the conflict perspective, and the functionalist perspective. And each has its own distinct way of explaining various aspects of society and the human behavior within it.
Sociological theories on crimeThere are many different sociological theories about crime, however, there are four primary perspectives about deviance: Structural Functionalism, Social Strain Typology, Conflict Theory, and Labeling Theory.
The least theory of crimeSocial strain typology, developed by Robert K. Merton, is based upon two criteria: (1) a person's motivations or adherence to cultural goals; (2) a person's belief in how to attain her goals.
Therefore, it (social strain typology) is not within the confines of Criminal theories.
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Maxine views her company as a grouping of departments that must work together and as a single entity that has customers, suppliers, and competitors. Maxine is utilizing: _____________
a. Total quality management.
b. A quantitative viewpoint.
c. Qualitative management.
d. A systems viewpoint
Maxine is utilizing a system's viewpoint when she views the company as a single entity.
What is System's viewpoint?This is defined as an open social systems that must interact with their environments in order to survive.
Maxine viewing the company as grouping of departments that must work together and as a single entity depicts system's viewpoint which was why option D was chosen as the most appropriate choice.
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The federal funds rate is typically ________ the primary credit lending rate. a. greater than b. equal to c. less than d. None of these choices are correct.
The federal funds rate is typically equal the primary credit lending rate.
What is federal funds rate?Federal funds rate are rate given by the government over credits or loans.
The rate is which commercial banks borrow and lend money and it is often lower than private Organization.
Therefore, the federal funds rate is typically equal than the primary credit lending rate.
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Firelight Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2020. Machine setup-hours is the only driver of manufacturing overhead costs. Firelight has a set up capacity of 660 hours.
Required:
Calculate the manufacturing overhead costs budget
The manufacturing overhead budget contains the manufacturing costs other than the direct materials and direct labor.
What is manufacturing overhead budget?
Your information is incomplete. Therefore, an overview will be given. The information in the manufacturing overhead budget is part of the cost of goods sold line item in the master budget.
One can calculate it by dividing the total expected overhead costs for one period by the number of direct labor hours expected in that period.
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The three common types of checking accounts are basic, interest-bearing, and lifeline?
True
False
Answer:
True
Explanation:
Quizlet: Name three common types of checking account? basic checking account, interest-banking checking account, and Lifeline checking accounts.
Suppose that monetary neutrality and the fisher effect both hold. An increase in the money supply growth rate increases.
Any increase in the money supply growth rate will increase the inflation rate and nominal interest rates if the monetary neutrality and the fisher effect both on hold.
What is monetary neutrality?The theory holds that the changes in the money supply only affect the general prices, but not overall economic productivity.
What is the fisher effect?The effect explains the relationship between inflation and real & nominal interest rates.
In conclusion, if the monetary neutrality and the fisher effect both hold, then, any increase in the money supply growth rate will increase the inflation rate and nominal interest rates
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Because the government owns most of the urban land and uses it for fire, police, government buildings, parks, and roads, as well as holds zoning and tax violation rights over the rest, the government applies ____________ over urban land.
Based on the given scenario the government applies eminent domain over urban land.
What is eminent domain?Eminent domain can be defined as the way in which government take over private property or private land so as to turn those private property into public use.
Government can use eminent domain to collect a person or an individual property or land without the approval or consent of the owner of the property.
Inconclusion the government applies eminent domain over urban land.
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PLEASE HELPP!!!
upload your table, and explain if you believe all businesses should have the same promotional strategies. Why or why not?
Answer:
No they should not all have the same promotional strategies. Some businesses have different goals, and different strategies can serve different goals. Different goals could be spreading awareness/widening shopper demographics, creating more demand for your products, etc. There are different promotional strategies for different purposes.
Explanation:
Answer:
Businesses should use different types of promotional strategies. Most businesses have different goals, and each strategy serves specific goals. There are different promotional strategies for different purposes. A company should research the best strategy for its target market and end goal.
Explanation:
I take an highschool business class!
Please don't copy word for word, this is just for inspo!
Which of the following describes mannerisms? question 2 options: style of speaking or behaving dressing appropriately values and standards working effectively with others
Answer:
It's A:
Styles of speaking or behaving
Explanation:
Manners do not include of getting along with your staff. Manners are something that is taught by speaking and your actions.
Mannerism can be described as the style of speaking or behaving and dressing appropriately. It is a habitual gesture, speech pattern, or method of behaving.
What is Mannerism?A particular trait or style, especially in behavior or speech: a frequent or typical manner, mode, or way of doing something.
These “micro-behaviors” could be anything from a simple throat-clearing to a very particular tic (i.e., biting nails when nervous).
Thus, option A is correct.
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If the market price is above or equal to the average cost, but below the average cost the firm should keep producing in the run even though it does so at a(n)
If the market price is above or equal to the average variable cost, but below the average total cost the firm should keep producing in the run even though it does so at a loss.
When should a firm shut down production?
A firm should continue production in the short run if the price is above the average variable cost even if price is below the average total cost. The short run is a period when at least one or more factors of production are fixed.
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Assume laura has a managing board that includes members from the jojo maman bebe sales, operations, and finance departments. Based solely on this information, what type of team would this most likely be?.
Based on this information, they would be considered a cross functional team, made up of professionals from different specializations.
What is a cross functional team?It is a group of people with different but complementary professional experiences and skills who work for a shared goal.
The members of this type of team have and contribute different academic backgrounds that nurture the group, in addition to each one having a very different profile and an experience that enriches the whole.
Therefore, we can conclude that based on this information, they would be considered a cross functional team, made up of professionals from different specializations.
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