Shenzhen Co. Uses the percentage-of-receivables basis to record bad debt expense. It estimates that 1% of accounts receivable will become uncollectible. Accounts receivable are ÂŁ420,000 at the end of the year, and the allowance for doubtful accounts has a credit balance of ÂŁ1,500. (a) Prepare the adjusting journal entry to record bad debt expense for the year. (b) If the allowance for doubtful accounts had a debit balance of ÂŁ740 instead of a credit balance of ÂŁ1,500, determine the amount to be reported for bad debt expense.
Based on the information given the appropriate journal entry to record bad debt expense for the year is:
a. Shenzhen Co. Journal entry
Debit Bad Debt Expense $2,700
Credit Allowance for Doubtful Accounts $2,700
[(1%×$420,000)-$1,500]
(To record bad debt expense)
b. Bad debt expense
Bad debt expense=[(1%×$420,000)+$740]
Bad debt expense=$4,200+$740
Bad debt expense=$4,940
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A natural monopoly exists when.
A natural monopoly exists when a single firm has economies of scale over the entire range of production that is relevant to its market.
They come into existence when industries are in need of some unique products or technology hence runs best when one firm produces all the output.
Also, a natural monopoly is the one that has only one company or service provider in an industry or geographic location.
Example is of a natural monopolist is electricity provider.
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Which of the following best describes the law of demand?.
Answer:
theres no options
Explanation:
When additional stock is issued to finance implementation of strategy, the existing stockholders' ownership and control of the enterprise are strengthened.
There different ways to handle stocks. When additional stock is issued to finance implementation of strategy, the existing stockholders' ownership and control of the enterprise are strengthened. is a true statement.
Stock is often described as the ownership of the stockholders in a specific company. An individual or a company can holds shares. They are called shareholders of the company and holds voting rights in important matters.
The ownership of the stockholders will rise when the stock is issued as a part of the business strategy.
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An analyst who wants to compare two companies based on their income statement information should prepare a _____ income statement.
Answer:
Classified (Or Multi-Step) Income Statement
Explanation:
A Classified Income Statement states the income a company has made in a certain time frame, including revenue, expenses, and profits of an organization or company.
An analyst who wants to compare two companies based on their income statement information should prepare a Classified (Or Multi-Step) Income Statement.
What is a Statement?A statement, like "Pizza is tasty," is a declaration that something is true. In the fields of law, banking, and government, there are more types of statements. Every statement makes a claim or a point. If you see an accident, you have to tell the police what you observed in a statement.
Positive assertions are objective, as is positive reasoning more generally. They can be tested as a result. These can be divided into two groups. One is a claim, such as "a decline in GDP results in an increase.
Unemployment." By examining the GDP and unemployment statistics, this argument can be objectively tested. The second type is a factual remark, such as "It's raining" or "Microsoft is the world's largest manufacturer of computer operating systems."
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A townhouse is purchased for $475,000. If the transfer tax is $2.00 on the first $1,000. and $0.10 for each additional $100., how much are the transfer taxes?
Based on the information given the amount of the transfer taxes is $476.
Using this formula
Total transfer tax=[(Purchased price+ First transfer tax)×(Additional tax)]+Transfer tax
Let plug in the formula
Total transfer tax=[($475,000-$1,000)×($0.10/$100)]+$2
Total transfer tax = ([$474,000 x .001] + $2)
Total transfer tax=$474+$2
Total transfer tax=$476
Inconclusion the amount of the transfer taxes is $476.
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a fringe benefit plan where employees choose the package of benefits they want up to a certain dollar amount is called a __________ plan.
There are different types of benefit plan. A fringe benefit plan where employees choose the package of benefits they want up to a certain dollar amount is called a cafeteria-style plan.
Fringe Benefits is simply regarded as Benefits such as sick-leave pay, vacation pay, pension plans etc., that stands for an additional compensation given too an employees that is far above base wages.
A cafeteria-style plan is a plan that gives employees coverage of expenses in cases like prescription medicine through the withholding of a part of their pre-tax salary.
Employers do gain through the use of these plans as they will not pay FICA on cafeteria-style benefits plans.
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For a single-price monopoly, marginal revenue is ________ when demand is elastic and is ________ 20) when demand is inelastic.
According to macroeconomic theory, for a single-price monopoly, marginal revenue is positive when demand is elastic and is negative when demand is inelastic.
When the demand is elastic, reducing the price and selling more units results in total revenue increasing.
Therefore, to make this valid, Marginal Revenue must be greater than 0.
On the other hand, when demand is inelastic, reducing the price and selling more units decreases total revenue.
Thereby, to make this valid, Marginal revenue must be less than 0.
Hence, in this case, it is concluded that the correct answer is positive and negative, respectively.
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Question 2 of 10
Which of the following are possible negative consequences of filing for
bankruptcy?
O A. Loss of employment
OB. Reduced and consolidated debt
O C. Increased credit score and reduction of debt
O D. Loss of property and lowered credit score
Answer:
D
Explanation:
The possible negative consequences of filing for bankruptcy is loss of property and lowered credit score. Option D is an appropriate response.
What is bankruptcy?Through the legal process of bankruptcy, individuals or other entities that are unable to pay their creditors back can seek partial or complete relief from their debts. Bankruptcy is typically imposed by a court order that is frequently requested by the debtor. An organization files for bankruptcy when it is unable to pay its creditors or honor its financial commitments.
Bankruptcies are seen negatively by prospective lenders and are recorded as bad information on your credit report. If creditors discover a bankruptcy on your credit report, they can opt not to grant you credit or, if they do, they might do so with more expensive interest rates and unfavorable terms.
Your credit scores may suffer if you declare bankruptcy. Hence, the appropriate response is option D.
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1. A company wants to build a new voting kiosk for sales to governments around the world. Which IoT technologies should the company choose to ensure the highest degree of security
Based on the situation described in the question, the IoT technology that the company should choose to ensure the highest degree of security is "Azure Sphere."
This is because Azure Sphere is the operating system that Microsoft designs to ensure the dealers of Internet of Things devices increase their security by incorporating a specific system on a chip.
Azure Sphere is known for its protection, high-level application functionalities, and well built-in communication and security traits for internet-connected devices.
Hence, in this case, it is concluded that the correct answer is "Azure Sphere."
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evans & sons, inc., sold $100,000 face value, six percent coupon rate, four-year bonds, for an aggregate issue price of $95,000. calculate the total interest expense to be recorded by the company over the four-year life of the bonds.
The total interest expense to be recorded by the company over the four-year life of the bonds is $29,000.
Using this formula
Total Interest expenses=(Face value× Coupon rate× Bond year)+(Face value-Issue price)
Let plug in the formula
Total Interest expenses=($100,000 x .06 x 4) +($100,000-$95,000)
Total Interest expenses= $24,000+$5,000
Total Interest expenses=$29,000
Inconclusion the total interest expense to be recorded by the company over the four-year life of the bonds is $29,000.
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True or false: The Malcolm Baldrige National Quality Award is to honor companies that show quality in seven key areas and have customer satisfaction ratings higher than competitors.
Answer:
True
Explanation:
If you need more reassurance look the award up. Plz give brainliest!
The company makes these predictions by finding patterns and relationships in large amounts of data by using machine learning algorithms called __________.
Answer:
Neural networks
Explanation:
The company makes these predictions by finding patterns and relationships in large amounts of data by using machine learning algorithms called neural networks.
A scope creep __________ is a list of additional ideas or bells and whistles proposed during a project.
Based on business management, a scope creeps "parking lot" lists additional ideas or bells and whistles proposed during a project.
Typically, a scope creeps parking lot is a document that records the project scope requests that the stakeholders do not authorize.
There a various information or scope requests that can be documented in the scope creep parking lots. Some of these unauthorized scope requests include the following:
An ambiguous scope of workPoor planning scheduleProject duration and complexity lCommunication between project stakeholders, etc.Hence, in this case, it is concluded that the correct answer is "parking lot."
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Zach buys most of his day-to-day household provisions from a local supermarket. During one of his visits to the store, he found it unusually crowded. He did not want to wait in the long checkout queue, so he decided to go to another store. Zach's decision is a result of a(n) _____ influence.
Hilton Corp. has revenues of $1,214,800, costs of $816,355, and pays a tax rate of 32 percent. If the firm pays out 50 percent of its earnings as dividends every year, what is the amount of retained earnings
Answer:
its $133,471.30
Explanation:
True or False: Your landlord, the over of your rental property, has the right to enter your apartment, any time he wants to
to be certain that you are following the NO SMOKING re because he is concerned about safety and damage to the apartment.
Answer:
false
Explanation:
he/she is not allowed to enter at any time because he/she does not have the right to enter the home if you are not there.
Anchor Resort and Casino surveils its customers and employees through a complex network of recorded video; undercover security agents; and weighing chips, cards, and coins for key transactions. What potential disadvantage of monitoring employees should Anchor managers consider
The potential disadvantage of monitoring employees that Anchor Resort and Casino managers do is that extensive monitoring can make employees feel that Anchor Resort doesn't trust them.
In a Casino where there is a high currency circulation and whose games can be more susceptible to fraud, it is necessary to have more regulation and monitoring, but when it becomes an excessive practice it can encourage employee turnover and demotivation.
There must be a mutual trusting relationship between a company and an employee, as a positive relationship generates greater job satisfaction, greater motivation and generates an organizational culture focused on development.
Therefore, Anchor Resort and Casino can develop a strategy to increase trust in the relationship among employees through training, open communication, feedback and encouraging positive practices in the company.
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The percentage of total industry output accounted for by the largest firms in an industry is called the:
Answer:
A B
A concentration ratio is used to measure... market dominance
Percentage of total industry output accounted for by the largest firms in the industry is termed... the concentration ratio
The sum of the squared market shares of each firm in an industry is termed ... the Herfindahl-Herschman Index
Explanation:
What is created when light is blocked by an opaque object?
Answer:
Light travels in straight lines. When light is blocked by an opaque object, a dark shadow is formed.
Explanation:
trust me and can i get the crown
The simple interest on $400 at 5% per annum for 2 years is.:
The simple interest amount that $400 principal will earn in 2 years at the rate of 5% is $40.
Data and Calculations:
Principal amount = $400
Simple Interest rate = 5% p.a.
Time = 2 years
Simple interest amount = $40 ($400 x 5% x 2)
The simple interest does not enjoy the power of compounding that increases savings.
Thus, the simple interest that the principal will earn in 2 years at the rate of 5% is $40.
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granting a pharmaceutical company a patent for a new medicine will lead to
Doing such to a pharmaceutical company would lead to option b: (i) and (ii) only:
A product that is priced higher than it would be without the exclusive rights.Incentives for pharmaceutical companies to invest in research and development.When a pharmaceutical company gets a patent, they will become a monopoly for the medicine in question. This will allow them to charge a higher price for the drug seeing as they have no competition.
It will also act as an incentive to other companies to develop more drugs because they will get a chance to benefit alone from the drug.
In conclusion, such a patent would lead to a higher price and act as an incentive.
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DESCRIPTION OF THE LAW OF DEMAND
Answer:
The law of demand states that quantity purchased varies inversely with price. In other words, the higher the price, the lower the quantity demanded
how much does the dow have to drop to suspend trading
Answer:
Circuit breakers halt trading on the nation's stock markets during dramatic drops and are set at 7%, 13%, and 20% of the closing price for the previous day. The circuit breakers are calculated daily
How to calculate percent yield.
Answer:
experimental yield divided by theoretical yield multiplied by 100
Explanation:
As some of the earliest management theories, scientific management and administrative management comprise the ________ viewpoint. behavioral quantitative systems contemporary classical
The management viewpoint which is made up of the scientific management and administrative management is known as:
E. Classical viewpointAccording to the given question, we are asked to state the name which is given to the management viewpoint which is made up of the scientific management and administrative management.
As a result of this, we can see that this is one of the earliest management theories as this has to do with the different methods of managing people and resources in a market system.
Therefore, the correct answer is option E
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The Khaki Corporation has the following budgeted sales data:
January February March April
Cash Sales $70,000 $90,000 $80,000 $70,000
Credit Sales $400,000 $350,000 $300,000 $320,000
The regular pattern of collection of credit sales is 40% in the month of sale, 50% in the month following sale, and the remainder in the second month following the month of sale. There are no bad debts. The budgeted cash receipts for April would be:T____________
The Khaki Corporation's budgeted cash receipts for April is $383,000.
Data andCalculations:
January February March April
Cash Sales $70,000 $90,000 $80,000 $70,000
Credit Sales $400,000 $350,000 $300,000 $320,000
Cash collections:
40% sales month $160,000 $140,000 $120,000 $128,000
50% 1st month $200,000 $175,000 $150,000
10% 2nd month $40,000 $35,000
Total collections from credit sales for April $313,000
Cash Sales $70,000 $90,000 $80,000 $70,000
Total budgeted cash receipts for April = $383,000
Thus, the budgeted cash receipts for the month of April would be $383,000.
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which new deal program still in existence today provides an income for retired people?
Answer:
The Social Security Act of 1935 was designed to combat widespread poverty among senior citizens and to aid the disabled. The government program, one of the few parts of the New Deal still in existence, provides income to retired wage earners and the disabled who have paid into the program throughout their working lives via a payroll deduction.
Explanation:
The United States, making up less than 5 percent of the world's population, uses more than ___ of the world's commercial energy production.
Despite that the country takes less than 5% of world population, it accounts for more than two-third of the world's commercial energy production.
The use of commercial energy production in this context entails use of resources like electricity, coal, advanced petroleum products, nuclear materials etc
These resources are in massive use in United States for generation of electricity, agricultural, transportation, commercial development etc
Therefore, the answer is that United States uses more than two-third (2/3) of the world's commercial energy production.
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The _____ established a minimum wage and overtime pay for employees working more than 40 hours a week.
According to the historical and information record, the Fair Labor Standards Act of 1938 established a minimum wage and overtime pay for employees working more than 40 hours a week.
Fair Labor Standards Act of 1938 was made to improve the working conditions of employees and also protect their rights against exploring employers.
The Fair Labor Standards Act of 1938 established standards on minimum wage, working hours, and oppressive child labor.
Hence, in this case, it is concluded that the correct answer is the "Fair Labor Standards Act of 1938."
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