Monica's trade receivables at 31 December were £35,000, including an amount of £3,000 owed by Chandler Ltd. However, she was notified that Chandler Ltd is being liquidated and that none of the debt owing to Monica will be received. Which of the following statements is true?
a. Monica’s trade receivables at 31 December should be shown on the statement of financial position at £35,000 and £3,000 charged to the statement of profit or loss as a bad debt.
b. Monica’s trade receivables at 31 December should be shown on the statement of financial position at £32,000 and no amount charged to the statement of profit or loss for bad debts.
c. Monica’s trade receivables at 31 December should be shown on the statement of financial position at £32,000 and £3,000 charged to the statement of profit or loss as a bad debt.
d. Monica’s trade receivables at 31 December should be shown on the statement of financial position at £35,000 and no amount charged to the statement of profit or loss for bad debts.
Answers
The statement that is true regarding the treatment of Monica's trade receivables at 31 December is (c) Monica’s trade receivables at financial position at £32,000 and £3,000 charged to the statement of profit or loss as a bad debt.
Trade receivables can also be referred to as accounts receivable, which represent the total amount of money owed to a business for goods or services rendered, but not yet paid for. The company will need to determine what portion of the receivables is still collectible and what portion should be written off.
A business typically provides for such doubtful debts by setting up an allowance account called provision for bad debts or provision for doubtful debts or provision for doubtful accounts.The correct journal entry to write off the bad debt is as follows:Bad debt expense (statement of profit or loss) ... £3,000Provision for doubtful accounts (statement of financial position) ... £3,000The entry above is necessary to reflect that an amount equal to the estimated loss should be recognized in the current period's statement of profit or loss.
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Related Questions
competition in the context of capitalism means that the marketplace
Answers
Competition in the context of capitalism means that the marketplace has rivalry among sellers in the market who strive to offer better products, services, and prices to attract customers.
In a capitalist system, businesses and individuals are motivated to compete by the desire for profit, which drives innovation, efficiency, and productivity. This competition can lead to economic growth, as businesses seek to create better products at lower costs, and consumers are provided with a variety of options to choose from. Competition also creates incentives for businesses to improve their customer service, marketing, and other aspects of their operations to attract and retain customers.
However, competition can also have negative effects, such as the possibility of monopolies emerging in which a single company controls a large share of the market, potentially leading to higher prices and lower quality for consumers. Therefore, government regulation and antitrust laws are in place to prevent unfair business practices and ensure that competition remains fair and open.
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Complete Question : Competition in the context of capitalism means that the marketplace has?
who do you think is gonna win this election/who are you voting for?
Answers
Answer:
please mark me Brainliest: i think joe Biden will win definitely
Explanation:
Which job in the Finance career pathway is best for someone with knowledge of risk factors for insurance claims?
Accounts Clerk
Insurance Underwriter
Claims Clerk
Business Financial Manager
Answers
Answer:
claims clerk im pretty sure ;)
Explanation:
The job in the Finance career pathway that is best for someone with knowledge of risk factors for insurance claims is Claims Clerk.
Insurance claim
An insurance claim is a formal request by a policyholder to an insurance company for coverage or compensation for a covered loss or policy event. The insurance company validates the claim and, once approved, issues payment to the insured or an approved interested party on behalf of the insured. For property casualty insurance, such as for your car or home, filing a claim can cause rate hikes to your future premiums.
Claims ClerkA claims clerk is vital to ensure that insurance companies run smoothly and settle disputes over denied claims efficiently. This position is a mediator between the insurance company and a person filing for claims to come to terms.
Thus. the job in the Finance career pathway that is best for someone with knowledge of risk factors for insurance claims is Claims Clerk.
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A monopolist's profit maximisation model: O a. Can be solved using either the price or the quankaly supplied as control variables, and both methods will produce identical numerical results. O b. Can only be solved using the quantity supplied as a control variable, and using the price as control variable would produce different numerical results that are not economically meaningful. OC is usually solved using the quantity supplied as a control variable, and using the price as control variable would produce different numerical results that are appropriate for describing markets in which the monopolist fixes the price rather than the quantity supplied. Od None of the above.
Answers
C). Is usually solved using the quantity supplied as a control variable, and using the price as a control variable would produce different numerical results that are appropriate for describing markets in which the monopolist fixes the price rather than the quantity supplied.
The monopolist's profit maximisation model is based on the premise that the firm seeks to maximise profits by setting the output level at which marginal revenue equals marginal cost. This can be achieved by either setting the price or the quantity supplied as the control variable. However, in most cases, the monopolist chooses to fix the quantity supplied and let the price adjust accordingly.
This is because in a monopolistic market, the firm has the power to set the price at a level that maximises profits. Using the price as the control variable in this scenario would produce different numerical results that may not be economically meaningful. A monopolist's profit maximisation model.
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What is the nine business blocks
Answers
Answer:
The nine business blocks are; customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure.
Explanation:
These business blocks are part of a business model, which is something that many new entrepreneurs use as part of a design detailing how a business can function and operate successfully, especially when depending on the environment their businesses are set in. Within business models, there are four central parts that relate to; customers, offering, infrastructure, and financial viability. With that comes nine key blocks that describe it, and those nine building blocks (which are stated in the answer section above) all relate to the four central parts of the business model.
Sources:
https://opentextbc.ca/organizationalbehavioropenstax/chapter/business-model-canvas/https://medium.com/the-second-act/the-9-building-blocks-of-your-business-model-e9cdfe996ff5What show type options are available for PowerPoint presentations? Check all that apply.
Browsed by an Individual (Kiosk)
Browsed at a Kiosk (Full Screen)
Browsed at a Laptop (Full Screen)
Browsed by an individual (Window) O Presented by a Speaker (Full Screen)
Answers
Answer:
Browsed by an individual (Window)
Browsed at a Kiosk (Full Screen)
Presented by a Speaker (Full Screen)
Explanation:
The main objective of the show type option in the Microsoft presentation is used for the displaying the slide in the particular manner or the sequence as well for the purpose of setting the slide .
Following are Steps to use the show type in the presentation .
Click on the file tab in the PowerPoint presentations.After that Select the slide set up show Option from there .We see that there is dialog box is display .In the dialog box we see that show type only three option are available i.eBrowsed by an individual (Window)Browsed at a Kiosk (Full Screen) Presented by a Speaker (Full Screen)The user will choose the option according to there need .Click on apply the particular option is reflected on the slide .All the other option are not appear in the show type that's why these are incorrect option .Answer:
❌Browsed by an Individual (Kiosk)
✅Browsed at a Kiosk (Full Screen)
❌Browsed at a Laptop (Full Screen)
✅Browsed by an Individual (Window)
✅Presented by a Speaker (Full Screen)
THIS IS RIGHT :)
Dahlia Colby, CFO of Charming Florist Ltd., has created the firm's pro forma balance sheet for the next fiscal year. Sales are projected to grow by 20 percent to $450 million. Current assets, fixed assets, and short-term debt are 15 percent, 70 percent, and 5 percent of sales, respectively. Charming Florist pays out 20 percent of its net income in dividends. The company currently has $133 million of long-term debt and $61 million in common stock par value. The profit margin is 16 percent.
a. Prepare the current balance sheet for the firm using the projected sales figure. (Be sure to list the assets and liabilities in order of their liquidity. Enter your answers in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)
b. Based on Ms. Colby's sales growth forecast, how much does Charming Florist need in external funds for the upcoming fiscal year? (Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32 )
Answers
Dahlia Colby, CFO of Charming Florist Ltd. created the firm's pro forma balance sheet for the next fiscal year. Sales are estimated to grow by 20 percent to $450 million.
The balance sheet consists of current assets, fixed assets, and short-term debt, which are 15 percent, 70 percent, and 5 percent of sales, respectively. Charming Florist pays out 20 percent of its net income in dividends. The company presently has $133 million of long-term debt and $61 million in common stock par value.
The profit margin is 16 percent. Since the sales of Charming Florist Ltd are expected to increase by 20% to $450 million, the necessary external funds to finance this rise in sales are the difference between the total assets and the total liabilities and equity needed to support the projected level of operations. The current assets are 15% of the sales, so they amount to 0.15 × 450 million = $67.5 million.
Fixed assets are equal to 70% of sales, thus they equal 0.70 × 450 million = $315 million. Short-term debt equals 5% of sales, which is 0.05 × 450 million = $22.5 million. Liabilities and equity are needed to support the remaining assets of $450 million - $67.5 million - $315 million - $22.5 million = $45 million.
In this case, Charming Florist requires external financing of $133 million + $61 million + $45 million - $67.5 million - $315 million - $22.5 million = $200.0 million. Therefore, based on Ms. Colby's sales growth forecast, Charming Florist requires an external funding of $200.0 million for the upcoming fiscal year.
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Why should you make a personal investment plan?
A. To keep your money as safe as possible
B. To avoid financial risk
C. To meet your personal financial goals
D. To make the most money possible
Answers
Answer:
to meet your personal financial goals
Explanation:
Porter’s Five Competitive ForcesIn order for a managerial team to develop an effective strategy, they first need to assess the conditions under which the organization is operating. This activity is important because in order to successfully formulate business-level strategy and be competitive, companies need to have an extensive understanding of their industries. Porter’s Five Forces Model is one tool for accomplishing this task.The goal of this activity is to test your knowledge of Porter’s Five Competitive Forces.Match each item to the force from Porter’s Five Competitive Forces that it best describes. 1 Threat of New Entrants 2 Rivalry Among Competitors 3 Bargaining Power of Suppliers 5 Threat of Substitute Products or Services Bargaining Power of Buyers 4 Match each of the options above to the items below. Apple introduced its Homepod to the home sound system market that had been previously dominated by Sonos. Walmart demanded that all its vendors cut their prices by 15 percent. If you don't like the price of something at your local store, you can probably find it online with two-day shipping at a lower price. Consumers are drinking less diet soda in favor of things like flavored zero calorie water and fresh juices. On Amazon, the average product's cost changes every ten minutes based on data the company collects including rivals' prices.
Answers
Matching the item with the given option: Apple introduces its Homepod to the home sound system market that had been previously dominated by Sonos. Threat of New Entrants. Walmart demanded that all its vendors cut their prices by 15 percent is Bargaining power of supplier.
What are the other matches of the option given?The matches are: If you don’t like the price of something at your local store, you can probably find it online with two-day shipping at a lower price: Bargaining power of Buyer. Customers are drinking less diet soda in favor of things like flavored zero calorie water and fresh juices. Threat of Substitute products or services.
On Amazon, the average product’s cost changes every ten minutes based on data the company collects including rival’s prices: Rivalry among competitors.
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Why would high start-up costs serve as a barrier to competition?
Answers
For a startup company to effectively compete against a large number of established competitors, proven strategies include:
Answers
One of the proven strategy in which startup companies can effectively compete against large number of established competitors is by Establishing a solid digital presence for their small and medium scale businesses.
What are Startup company?A startup company is a company that is newly coming up. They are still fresh in business and sometimes require time to grow and become firm in the market.
For these small businesses to grow, their presence would need to be felt. One way is by massively putting out their selves digitally. In a world of social media, they can take advantage of that to compete against big competitors.
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who is the king of rock
Answers
Answer:
Elvis Presley is considered the "King of Rock"
Explanation:
Sharon Inc., a manufacturer of snowmobiles has detected asbestos, a hazardous material, in the insulation of its factory. A complete strip and repair job will have to be done at a considerable cost. Two bids for the job have been obtained. Doust Construction Inc. will do the work for $120,000. With a $20,000 down payment, Doust Construction will finance the balance over six years at 10 percent, requiring Sharon to make six equal annual payments. Chamberlain Inc. will do the job for $122,500 and will finance the entire amount at 6 percent, requiring Sharon to make six annual payments. Sharon's best available use of money to do the strip and repair job is 8 percent. Which contractor should Sharon's use?
Answers
Sharon Inc., a manufacturer of calculation has detected asbestos, a hazardous material, in the insulation of its factory. Two bids for the job have been obtained.
Doust Construction Inc. will do the work for $120,000. With a $20,000 down payment, Doust Construction will finance the balance over six years at 10 percent, requiring Sharon to make six equal annual payments. Chamberlain Inc. will do the job for $122,500 and will finance the entire amount at 6 percent.
The question asks you to calculate the net present value The calculation of NPV is as follows: he NPV of Doust Construction is calculated as follows:
(1 + 8%)5) + ($21,047.60 / (1 + 8%)6) - ($20,000 + $100,000) = $2,255.32
($22,558.80 / (1 + 8%)3) + ($22,558.80 / (1 + 8%)4) + ($22,558.80 / (1 + 8%)5) +
($22,558.80 / (1 + 8%)6) - $122,500 = -$4,319.78
The NPV of Doust Construction is $2,255.32, while the NPV of Chamberlain is -$4,319.78.
Sharon should use Doust Construction.
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Based on the video and what you know about the Big 5 personality types, Trayvon is most likely ___ on ___Multiple Choice O high, extroversion O low, emotional stability O high, openness to experience O high, emotional stabilityO low, openness to experience
Answers
The Big 5 personality traits, also known as OCEAN or CANOE, include openness to experience, conscientiousness, extraversion, agreeableness, and neuroticism.
Each trait reflects a different aspect of an individual's personality, and people can vary in their levels of each trait. Given the options provided, Trayvon is most likely high on emotional stability and openness to experience. Emotional stability refers to an individual's ability to remain calm and composed in stressful situations. People high in emotional stability tend to be resilient and adaptable, whereas those low in emotional stability may struggle with anxiety or mood swings. Openness to experience reflects an individual's curiosity, creativity, and willingness to try new things. People high in openness to experience tend to be imaginative and adventurous, whereas those low in openness may be more traditional and conservative. Without more context about Trayvon's behavior or personality, it's difficult to say with certainty where he falls on the other traits. However, it's worth noting that individuals can vary widely in their levels of each trait, and there is no "right" or "wrong" level of any particular trait.
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Which is the best description of Economics?
a. the study of how people make decisions when dealing with scarcity
b. the study of money in the financial system (banking system)
c. the study of how people have purchased and sold things throughout history
d. the study of how you should invest your money in the stock market
Answers
The study of how people make decisions when dealing with scarcity is the best description of Economics. Hence, option A is correct.
What is scarcity of resources?Scarcity of resources is the result of constrained resources and seemingly insatiable human needs. Natural resources are few, and as population increases, so are needs and desires. To meet everyone's demands, there aren't enough resources, though.
People must prioritize their most crucial requirements in order to make the most of the resources they do have as resources are not distributed fairly among people.
Thus, option A is correct.
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A whole supermarket shelf of snack food bags is marked, "Frito-Lay." This is an example of a(n)
brand.
a. co brand
b. individual
c private
d. wholesale
e. family
Answers
A credit union
Question 3 options:
is larger than most banks
promotes good spending habits among its members
will allow anyone to join
provides financial service at a higher cost than a bank
Answers
Answer: A credit union promotes good spending habits among its members.
Why are short term and long term goals important when it comes to money? Give an example of each
Answers
Answer:
bc will need for emergency in short time and long time for collage
Explanation:
Answer:
The precision of planned statistics that relate to future activities is a benefit of short-term planning. Long-term planning may be less trustworthy due to the inaccuracy of longer-term projections.
Long-Term Financial Objectives For most people, the most important long-term financial objective is to save enough money to live comfortably.
Virtually all organizations, from small startups to huge established firms, require short-term money management. Even huge corporations with seemingly strong financial accounts have declared bankruptcy because they were unable to pay their existing obligations.
Explanation:
After asking coworkers to review a project plan, you receive feedback. Your coworker thinks there is a better way to display the data in the business report.You should add a
title
reference
abstract
table
Answers
Answer:
table
Explanation:
Favors distribution company purchases small imported trinkets in bulk, packages them, and sells them to retail stores. They are conducting an inventory control study of all their items. The following data for the year 2006 are for one such item, which is not seasonal. [10 points] month jan feb mar apr may jun jul aug sales 11 19 17 14 15 16 20 15 use trend projection to estimate the relationship between time and sales (state the trend line equation in this problem). Calculate forecasts for february 2007, april 2007, and february 2008
Answers
This is the most straightforward and widely used method for forecasting demand. Trend Projection projects future sales by using data from previous sales.
Organizations with sufficient historical sales data—typically more than 18 to 24 months—may employ this strategy.
Can a trend chart be used to predict sales?The Trend chart compares each forecast amount to the period-end prediction and quota to show how it is trending over time. In order to forecast future revenue over time, a separate predicted realization line is automatically generated. The predictive forecasting feature includes access to the Trend chart.
Forecast: trend equation = a + bx y = a + bx 7 = 15-17858+ (-0,09524) X 14, 4 = 15-17858 -0.09524x Feb 2007 for here: x = 14 4 Feb 2007: 15.17858 -0.09524X14 = 15.17858-1.33336 = 13.84522 Y Feb 2007: 13.84522 The April 2007 forecast can be found here. x=16 In April 2007, 15-17858-009524X16 = =15-17858-11 52384 = 13.65474 In April 2007, 13.65474 The forecast for February 2008 is as follows: x=26 In February 2008, 15.17858-0.09524x26 = 15.178 58-2.47624 = 12.70234 In February 2008, 12.70234.
Month of Math: Sales.
x2 X x = 2x = 36 = 4.5 XS 9=24=118 14-75 79 19 14 2 22 4 42 3 2xy = 527 68 16 s 20 (x)2= (4.5)2 = 20.25 60 5 12 25 May 14 84 36 h=8 7 16 112 49 J 15 120 64 h=8=36 118 527 204 rosel b(slope) = Exy -n
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PLS NEED HELP IM BEHIND BAD
Answers
Answer:
The first answer
Explanation:
Just took it
Who do you think will win the Election
A( Trump
B( Biden
Answers
Answer:
B. Biden
he won the election
Drag each option to the correct location.
Match the scenarios to the factors that affect the labor market.
foreign direct investment
outsourcing
immigration
Answers
Each scenario should be matched to the factors that affect the labor market as follows:
Immigration: Carlos is moving from Mexico to the United States because he got a job in a bank. He had his interview last month, and the bank agreed to hire him because he was willing to work for 10% less than most American workers, even though he has the same qualifications.Foreign direct investment: A US supermarket chain is going to open a few supermarkets in Europe because a recent survey showed that the chain has a huge potential for profits in Europe.Outsourcing: A renowned US information technology firm has recently signed a contract with a company based in the Philippines. The Filipino company will handle the accounts of the US firm. The US firm made this decision to reduce labor costs.What is immigration?Immigration can be defined as the movement of a group of people from one geographical region to another geographical destination such as a city, especially in search of any of the following:
Good governanceSecurityBetter living conditions.WorkJobsSocial amenitiesWhat is a foreign direct investment?A foreign direct investment (FDI) simply refers to a type of investment which is made by an individual or business organization (investor) into an investment market that is located in another country.
In conclusion, an example of foreign direct investment (FDI) is a US supermarket chain that is planning to open a few supermarkets in a country in Europe.
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Answer:
Post Test: Free Market and Businesses
Unit: 2
Economics
Question #12
__________________________________________________________
This is 100% right because I took the test
Go to explanation for picture with answers
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l
∨
Explanation:
Here's the picture and I hope this helped!
Have a nice day!
science week1 qarter4 grade 8
Answers
Answer:
Explanation:
444
How are a credit score and credit report related?
Answers
Answer:
1) A
2)D
3)D
4) Dunno
Explanation:
Here's the reason why I chose the answers as well.
1) When you have a debit card you are spending your OWN money. Therefor it's taken from the money if you have in your bank account.
2)Credit Cards are usually used when you don't have the cash at hand but have to pay it back.
3)The lower the credit score the worst it is.
Question 1 of 3
The bank limits deposits to $200 per day. Ash has $300
to deposit. What should she do?
Select a response.
A Make multiple deposits over a few days
B Not agree to the Terms and Conditions
Answers
According to the information provided, Ash should make several deposits spread out over a few days. Thus option A is correct.
Ash can divide the deposit into two separate transactions because the bank only allows deposits of $200 per day and she has $300 to deposit. She is permitted to deposit $200 on the first day and the final $100 on the second day.
She will be able to successfully complete her deposit and stay inside the bank's deposit cap with this method. The correct response is, "Make several deposits over a few days."
Therefore, option A is appropriate.
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If I had a business partner later, but I did most of the work to making our new company, is it only fair if I get more of the ownership of the company, or do we do it equally, this is not for now in high school, this is when I get older.
Answers
Answer:
u do it equally
Explanation:
What would you like to know?
Answers
Answer:
I like these free points. Also Panic! At The Disco anyone?
Explanation:
Which of the following statements about the Web is not true?A) The Web is the technology upon which the Internet is based.B) The Web was the original "killer app."C) The Web provides access to pages written in HyperText Markup Language.D) The Web is both a communications infrastructure and an information storage system.
Answers
The statement that is not true about Web is B) The Web was the original "killer app." While the Web is an incredibly popular and influential application of the Internet, it was not the original "killer app."
The term "killer app" refers to a software application or technology that is so compelling that it drives widespread adoption of a particular platform or technology.
In the case of the Internet, the original "killer app" was email. Email was the first widely used application that provided a compelling reason for individuals and organizations to connect to the Internet.
Before the Web, email was the primary way that people communicated and shared information online. The Web, however, quickly became another important application that drove the growth and development of the Internet.
It provided a way to access and share information in a user-friendly and visually appealing way, and it helped to popularize the use of the Internet for e-commerce, social networking, and other purposes.
Overall, while the Web was not the original "killer app" of the Internet, it has certainly played a significant role in shaping the way we use and interact with the online world.
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What will the real value of $100 be in 7 years if you hide the money under your mattress and the inflation rate is 2%
Answers
The real value of the money after 7 years, if the money is hidden under the mattress and the inflation rate, is $ 86. 81.
How to find the real value ?If the inflation rate is 2%, the value of money is expected to decrease by 2% per year.
In 7 years therefore, you can use the future value formula to find the real value of the money to be :
= Value today x ( 1 - rate ) ^ number of years
This gives:
= 100 x ( 1 - 2 % ) ⁷
= $ 86. 81
This means that if you hide $100 under your mattress today, in 7 years, its real value will be $86.81 in terms of what it can buy.
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