On June 1, 2018, Perfect Performance Cell Phones sold $ 17,000 of merchandise to Ashton Trucking Company on account. Ashton fell on hard times and on July 15 paid only $ 6,000 of the account receivable. After repeated attempts to collect, Perfect Performance finally wrote off its accounts receivable from Ashton on September 5. Six months later, March 5, 2019, Perfect Performance received Ashton's check for $ 11,000 with a note apologizing for the late payment.
Requirements:
1. Journalize the transactions for High Performance Cell Phones using the direct write-off method. Ignore Cost of Goods Sold.
2. What are some limitations that High Performance will encounter when using the direct write-off method?
Answers
Answer:
See answers and explanation below.
Explanation:
1. Journalize the transactions for High Performance Cell Phones using the direct write-off method. Ignore Cost of Goods Sold.
Date Details Dr ($) Cr ($)
1 Jun. 18 Account receivable 17,000
Sales revenue 17,000
To record sales to Ashton Trucking Company on account.
15 Jul. 18 Cash 6,000
Account receivable 6,000
To record cash received from Ashton Trucking Company.
5 Sep. 18 Bad debt 11,000
Account receivable 11,000
To record accounts receivable from Ashton written off.
5 Mar. 19 Account receivable 11,000
Bad debt 11,000
To record transfer of bad bad back toaccounts receivable.
5 Mar. 19 Cash 11,000
Account receivable 11,000
To record cash received from Ashton Trucking Company.
2. What are some limitations that High Performance will encounter when using the direct write-off method?
a. It is not in line with the matching principle. This is because bad debt expenses will not be reported in the same period they are incurred and might not be realized as bad expenses until the following period.
b. It can cause inaccurate balance sheet as it does give the actual amount of accounts receivable of a company.
c. It method of recording violates GAAP and financial statements does to present the actual financial performance of the business.
d. It overstates accounts receivable as the full amount of amount owed to the company from credit sales will be reported as accounts receivable.
Related Questions
Better managing a daily scheduler through effective time management can reduce stress on the job.
Answers
Answer:
Good time management is essential if you are to handle a heavy workload without excessive stress. Time management helps you to reduce long-term stress by giving you direction when you have too much work to do. It puts you in control of where you are going and helps you to increase your productivity
Answer:
it helps put your daily life at relief
Explanation:
While going into a forest and clear-cutting all of the trees may not be environmentally friendly, it is very efficient and less than sustainable practices.
1.) damaging
2) dangerous
3.) effective
4.) expensive
Answers
clear-cutting all of the trees damaging and dangerous practice, hence the correct options are 1 and 2.
What is deforestation?Deforestation, also known as forest clearance, is the removal of a forest or tree stand from land before it is put to another use other than that of a forest.
Conversion of forest land to farms, ranches, or urban use is a form of deforestation. Tropical rainforests are where deforestation is most prevalent.
Forests have been cleared throughout history and into the modern era to make room for agriculture and animal grazing as well as to obtain wood for fuel, manufacturing, and construction.
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Using the maximum ratios for a conventional mortgage, how big a monthly payment could the Danforth family afford if their gross (before-tax) monthly income amounted to $6,500? $ Would it make any difference if they were already making monthly installment loan payments totaling $800 on two car loans? Maximum mortgage payment they could make would be $
Answers
To solve for the first question you do $6500*0.3 which will give you $1950. 30% is the max in all situations.
The second half you do $6500*.38= 2470 then subtract the 800 from there which will give you $1670.
Race and gender are examples of _____.
social issues
personality disorders
discrimination
diversity issues
Answers
Answer:
I think the answer is D.
6-18. What could be driving the tremendous growth in Salesforce.com’s stock price and revenue? Why do you think investors put such a high premium on Salesforce.com’s stock?
and
6-17. Why did tech giants like SAP, Oracle, Microsoft, and IBM miss the opportunity to produce a SaaS CRM like Salesforce.com? What might keep large tech companies from identifying potential opportunities like Salesforce.com?
Answers
Answer: yea that it
Explanation:
Tintin Company Limited has recently undergone an extensive re-branding exercise and a new website has been created. As the Director of Human Resource Management, you have been tasked to look at the implications for individuals pursuing a career in Strategic Human Resource Management in an organization. Discuss and analyze the statement.
Answers
The Human Resource Management in an organization is important to improve business performance.
What is human resources management?It should be noted that human resources management simply means the strategic approach to the efficient management of people in an organization.
In this case, the Human Resource Management in an organization is important to improve business performance.
Also, they are important to uphold a culture that's inspires innovation.
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The Assembly Division of American Car Company has offered to purchase 90,000 batteries from the Electrical Divison for $104 per unit. Currently, Electrical Division is producing 250,000 batteries per year and the production costs per battery are as follows:
Electrical Division:
Direct materials, $40
Direct labor, 20
Variable factory overhead, 12
Fixed factory overhead, 40
Total, $ 112
The Electrical Division has been selling 250,000 batteries per year to outside buyers at $136 each. Capacity is 250,000 batteries per year. The Assembly Division has been buying batteries from outside sources for $130 each.
A. What is the transfer price range?
B. From the company's perspective, if a transfer is made, how much more or less will firm profits be?
Answers
A. The transfer price range is between $112 and $136.
B. If a transfer is made at $130, the firm profits will reduce by $1,500,000.
What is an acceptable transfer price?
The acceptable transfer price ranges between the variable costs of the producing department or the variable costs plus a calculated opportunity cost.
The opportunity cost represents the lost cost with the transfer when the division could have gone ahead with an external sale instead.
Data and Calculations:Offer from the Assembly Division = 90,000 batteries
Offer transfer price = $104 per unit
Current production per year = 250,000 units
Current external selling price = $136 per unit
External cost per unit = $130
Production Costs of the Electrical Division:Direct materials, $40
Direct labor, 20
Variable factory overhead, 12
Total variable costs per unit = $72
Opportunity cost per unit = $64 ($136 - $72)
Fixed factory overhead, 40
Total, $ 112
A. The transfer price range is between $112 and $136.
B. If a transfer is made at $130, the firm profits will be less by $1,500,000 (250,000 x $130 - $136).
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Matrix management creates an environment in which the unity-of-command principle is strictly followed. is a collection of independent, mostly single-function firms that collaborate to produce a good or service. is composed of dual reporting relationships in which some employees report to two superiors. involves holding employees together by contracts that stipulate results expected, rather than by hierarchy and authority. results in a centralized decision-making system.
Answers
Answer:
Matrix management
is composed of dual reporting relationships in which some employees report to two superiors.
Explanation:
Matrix management is a cross-functional work team in which there is dual or multiple management accountability and responsibility. Team members come from different units to achieve a specific business goal or purpose. It is characterized by two chains of command. One chain of command is functional, and the other chain of command is patterned along project, product, client, and other lines.
what principles of management are about.
Answers
The Principles of Management act as a road map for managerial decisions and activities. After years of research, Henri Fayol was able to compile a list of 14 management principles.
The 14 Principles of Management of Henri Fayol are Division of Work, Unity of Command, Unity of Direction, Discipline, Subordination of Individual Interest, Remuneration, Order, Authority and Responsibility, The Degree of Centralization, Scalar Chain, Initiative, Equity, Stability of Tenure of Personnel, Esprit de Corps.
Forecasting, planning, process management, organization management, numerous project management methodologies, decision-making, coordination, and control are all tasks that can be accomplished using the 14 management concepts.
Many of these issues, despite being evident, are nevertheless employed in common sense-based management techniques in firms today. It is still a useful list of areas of emphasis based on Henri Fayol's study, which is still relevant today because of a few logical precepts.
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what contributes to an empolyee's self worth which in turn increases productivity and reduces absenteeism
Answers
Answer:
The factors that contribute to an employee's self-worth is thought to be linked to employees productivity, motivation, performance, job satisfaction, emotional stability, effective stress and conflict management.
Explanation:
The productivity of an employee, a business or an economy can be calculated based on its performance and efficiency. When we measure labour productivity, we compare a given output with the amount of labour required for that output.
On the other hand, Absenteeism is the behaviour of a person who is often absent when he should be present.
The concept of an employee's self-worth is being recognized for its vital role both in terms of identity formation and in adaptive terms. However, factors that contribute to an employee's self-worth is thought to be linked to employees productivity, motivation, performance, job satisfaction, emotional stability, effective stress and conflict management.
describe two other criterias that are required in order to be considered for a bachelor's degree
Answers
Answer:
The two main criteria for consideration of bachelor's degree program,
Pre requisite subjects. This is a must to have requirement. ...
Merit based. This is also a must to pass requirement.
Explanation:
;)
Two prerequisites to get into a bachelors program are:
Have the requirementsPass the interviewWhat is a bachelors program?This is a program that is offered in the Universities that helps to equip secondary school leavers with degrees for chosen careers.
The reason why these are necessary is that it helps to establish if a person is the best fit for the school they chose.
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Note: Write your response with a complete sentence (to get the full marks) in the space provided; no attachments or email will be considered for marking.
Consider an economy that produces only food and clothing. Its production possibilities boundary is shown below.
What do we know about the use of resources when the economy is at point a and e. Please provide the reasoning for your answer. (1 point)
Which of points b, c, and e is efficient? Please provide the justification for your answer. (1 point)
If the economy is at point e, what is the opportunity cost of producing one more tonne of clothing? Please provide the reasoning for your answer (1 point)
What is the opportunity cost of moving from point a to point c? Please provide the reasoning behind your answer (1 point)
What do we know about the use of resources at point d? How would it be possible for the economy to produce at point d? (1 point)
Answers
Point A represents inefficient use of resources and Point E represents efficienct use of resources. Any point lying on the PPF curve is an efficient use of resources and and any point lying inside the PPF such as Poni A is underutilization
lidge points from all the parts i
Part A
1) What is the idea behind frequency distribution?
2) Which is the common sampling method?
3) What is the measure of central tendency called?
4) What observation basically describes a sample size?
5) What is the measure of dispersion from a mean called?
6) Sample mean or the population mean: which varies the most?
7) Sample mean or individual observation: which varies the most?
8) What is the benefit of increasing the sample size?
9) Numerically characterize a Standard Normal Distribution
Answers
Answer:
a frequency distribution is an overview of all different values in some variable and the number of times they occur that is frequency distribution tells how frequencies are distributed over values frequency distributions are mostly used for summarizing categorical variables.
in non probability sampling the sample is selected based on the random criteria and not every member of the population has a chance of being included, non probability sampling methods include convenience sampling voluntary response sampling purposive sampling snowball sampling and quota sampling.
in statistics a central tendency (or measure of central tendency) is a central or typical value for a probability distribution. ... Colloquially measures of central tendency are often called averages the term central tendency dates from the late 1920s
Select the correct answer. What is the standard lettering height of lowercase letters when used in combination with uppercase letters? A. Lowercase letters must be about one-fourth the height of uppercase letters. B. Lowercase letters must be about twice the width of uppercase letters. C. The lower part of the lowercase letter must be about two-thirds the height of the capital letter. D. The upper part of the lowercase letter must be about two-thirds the height of the capital letter.
Answers
Answer:
B
Explanation:
During the staff meeting, the performance of BJ is discussed. BJ works hard but received a poor customer rating, and the manager is told to “figure it out” or fire BJ. Which of the following would be the best approach to try to improve BJ’s performance?
Answers
Answer:
BJ
Explanation:
Hi is the hard worker
so, he is the best
Providing him with 360-degree feedback from customers, co-workers and managers to give him insight into how his behavior is perceived will help improve his performance.
What is a 360-degree feedback?A 360-degree feedback refers to a process that allows employees to receive feedback from the people who work around them.
In conclusion, the feedback will let him know how to improve on his work performance.
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A binding legal document that a borrower signs to obtain a loan is a
note
negotiable instrument
draft
bearer instrument
Previous
Answers
Answer:
I think note is your answer.
Propose your top three potential social causes for your organization and why your selected social cause or issue is a good match with your chosen corporation for creating a corporate social responsibility (CSR) campaign.
Answers
By selecting a social cause that aligns with their values and corporate goals, companies can create a CSR campaign that resonates with stakeholders and helps to build a positive reputation for their brand.
There are various social causes that companies may choose to support, depending on their corporate social responsibility goals. Here are the top three social causes that I would recommend for an organization, along with reasons why they are good matches for creating a CSR campaign:1. Environmental conservation: Protecting the environment and promoting sustainable practices is a social cause that has gained widespread attention in recent years.
As climate change continues to be a pressing issue, businesses that take a proactive approach to reducing their carbon footprint can establish themselves as responsible and sustainable entities. This is a good match for companies that have a large environmental impact, such as those in the manufacturing or transportation sectors. A CSR campaign focused on environmental conservation can include initiatives such as reducing waste, using renewable energy sources, and promoting eco-friendly practices among employees and customers.
2. Education: Investing in education is one of the most effective ways to support social development and empower individuals and communities. For companies that want to create a CSR campaign that has a tangible impact on people's lives, education is a great choice. This is especially relevant for companies that have a strong local presence and want to support the communities in which they operate. A CSR campaign focused on education can include initiatives such as donating educational resources to schools, providing scholarships to students, or organizing workshops and training programs for employees and community members.
3. Health and wellness: Promoting health and wellness is a social cause that has become increasingly relevant in light of the COVID-19 pandemic. Companies that prioritize the well-being of their employees and customers can create a positive image for themselves and build strong relationships with stakeholders. This is a good match for companies in the healthcare or hospitality sectors, as well as those that offer wellness-related products or services.
A CSR campaign focused on health and wellness can include initiatives such as promoting healthy lifestyles, providing access to healthcare services, or supporting mental health awareness and treatment programs.Overall, each of these social causes has the potential to create a meaningful and lasting impact, both for the company and the communities it serves.
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Which negative quality does Deborah exhibit?
Deborah believes that people of other races are inferior to her. She treats them with disdain and does not miss an opportunity to abuse them. Deborah is (BLANK)
this is a question on edmentum btw if anyone has answered it i would really appreciate it
Answers
Based on the given information, Deborah exhibited a negative quality of racism.
What is racism?Racism refers to as a negative quality characterized by prejudice, discrimination, or antagonism directed against people who belong to a particular race or ethnic group.
In the scenario given, Deborah believes that people of other races are inferior to her and treats them with disdain, which suggests that she holds prejudiced attitudes towards individuals based on their race. Her behavior of abusing them also suggests that she discriminates against them by treating them unfairly and disrespectfully.
In this 21st century, racism supposed to be things of the past and government of different countries should put measures in place that racist are dealt with accordingly.
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Which of these are advantages of increasing your market
share? (Select three answers.)
Building your reputation
Inspiring competition
Limiting capacity
Lowering costs through economies of scale
Increasing sales in slow markets
Unprofitable customers
Answers
Answer:
The three advantages of increasing market share are as follows:
Explanation:
1. Building your reputation:
Reputation in business terminology is called "Goodwill". Goodwill is measured in monetary terms and is shown on the assets side of the balance sheet. Higher goodwill indicates a higher reputation of the firm which in turn attracts potential buyers of the shares.
2. Lowering costs through economies of scale:
Lowering costs through economies of scale maximizes the profit, and the higher profits higher the dividends, and the higher dividends increase the demand for shares in the market.
3. Inspiring competition:
Inspiring competition tells the external and internal users of the company what makes them different from its competitors and when you stand unique from others in the market the market price of the share increases.
Leondra looks over her Algebra homework and says to herself ""I’m probably not going to be able to do this - I’m just not a math person."" Leondra is exhibiting a
Answers
Answer:
Fixed mindset
Explanation:
Mindset could be explained as an individual's psychological state which often transcends into how we perceive challenges, what we can do and what we can't. Usually the ability to solve a puzzle, face and conquer a challenge starts and ends with an individual's mindset as it is where either the strength to execute or depression to walkway is derived.
The growth mindset gives individuals who exhibit the trait the strength and morale to face challenges, instead of backing out without trying, they try to find ways of constantly improving at what seems difficult.
On the other hand, the fixed mindset which is what is exhibited by Leandro could be deemed as a rigid type of notion whereby an individual believes all he knows and all he can do are already fixed, hence anything aside those cannot be successfully executed this kind of individuals fail to try new challenges.
Please Help
If you were starting a business with the global market in mind, what steps would you take to make sure that your business would be ready to go global?
Answers
Answer:
1:Research and narrow down your markets of opportunity. ...
2:Be culturally sensitive. ...
3:Leverage local experts. ...
4:Learn the language. ...
5:Visit each country and start establishing personal relationships. ...
Most people are aware of someone at school or at work with whom they don’t really associate. Pick someone in your school that you may have classes with but don’t really know. Write down what you think you know about him or her. Then interview that person and write a response about what you have learned. Write an additional paragraph at the end discussing how taking the time to get to know someone can make a difference.
Answers
Answer: Taking your personal time to let someone know makes you know a lot about him, you will also come to know about some good relevant things along with things with which you are not comfortable, you just have to focus on the good portion.
Explanation: Here is a real-life experience of mine that I am sharing. In my school days, I have a friend let his name is x. I have bad thoughts about him because I don't know him personally, just sometimes we usually talk about academics. I have so many bad thoughts about him. But things changed when I personally came to know him. In fieldwork he is in my team, so we have to work as a team and have a good coordination with each other. I started to know him from deep inside, how he thinks about others, how he thinks about himself along with how he thinks about me. Things went too far we both became good friends, he shared many things to me. He said about his role in part-time job which he does after his school or his school breaks and said to me to also work with him. I also learned about making graphical designs in which he was an expert. He always motivated me to do good things. But as I said there will be also bad portions, I am not mentioning those bad portions, but trust me everyone has a bad portion just ignore that portion and don't judge him for that.
Knowing someone can make you build a strong character you came to know about many such things which you don't even know, but he or she does. You came to know about skills that you can also implement on yourself.
Which of the following companies is most likely to use process costing?
Answers
Answer:greenwich company
Explanation:
38:38
Mark is a college student and frequently needs to either rent a car or borrow his friend's car. Although he doesn't own a car of his own,
he wants to buy himself some liability coverage that would apply whenever he drives someone else's car. Which coverage should Mark get?
Answers
Mark is a college student and frequently needs to either rent a car or borrow his friend's car, Mark should get Non-owner coverage.
Non-owner coverage is non-public vehicles that your business would not own, rent, or lease. Non-owned automobile coverage helps provide legal responsibility and safety if a car you haven't leased, hired, or rented is pushed on your business and is a coincidence.
In case you drive often but do not own an automobile, a non-proprietor insurance policy provides legal responsibility coverage for bodily harm and property harm, which means that it'll cover you if you're answerable for damages or injuries in a coincidence.
Non-owner vehicle coverage is for individuals who sometimes drive an automobile they don't own but need to prove insurance. It affords liability coverage that will pay for accidents and assets that harm our purpose to other humans in a twist of fate. but, it doesn't cowl damage to the automobile you have rented or borrowed, nor for any accidents.
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Requirement 2. How much is the owner's equity of the property management company? Irene Chan has $ of equity in the property management company?
Answers
The information provided is incomplete as the amount of equity or any specific details about Irene Chan's investment in the property management company are not given. Therefore, without knowing the specific amount or percentage of equity Irene Chan holds in the company.
it is not possible to determine the exact value of the owner's equity or Irene Chan's equity in the property management company.Equity represents the ownership interest in a company and is calculated by subtracting the company's liabilities from its assets. However, since no information is provided regarding the company's liabilities, assets, or Irene Chan's investment.
We cannot calculate the owner's equity or determine Irene Chan's specific equity in the property management company.To accurately determine the owner's equity or Irene Chan's equity, it would be necessary to have additional information about the company's financial statements, investments, and any other relevant details regarding ownership stakes or capital contributions.
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Evaluate Starbucks strategy of organic growth in China rather than integrating with a chain of Chinese cafés. Explain your answer
Answers
Starbuck's strategy of organic growth in China rather than integrating with a chain of Chinese cafés was in accordance to the broad Chinese customer target categorization, Starbucks' business strategy in China was centered on personalization.
What is Organic growth?Organic growth is when a business expands by boosting internal sales and production. This excludes revenues or growth related to merging and collection but instead focuses on a rise in sales with expansions using the company's own capabilities.
Starbucks developed thorough customer taste profile assessments that allow them to be flexible enough to adapt to the marketplace and develop appealing East crosses West product offerings.
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PLEASE HELPPP!! Human Resources class
Answers
A fitness center’s drink machine has been empty for two weeks.When the delivery person arrives to refill the machine the fitness centers manager complains that the fitness center has lost money what should the delivery person do
Answers
When the fitness center manager complains that the center has lost money due to the empty machine, the delivery person should show empathy, take ownership of the problem, and offer solutions that can help prevent future occurrences of the problem.
As a delivery person responsible for refilling a fitness center’s drink machine, the best approach to take when the fitness center manager complains that the center has lost money due to the empty machine is to show empathy, take ownership of the problem, and offer solutions that can help prevent future occurrences of the problem.
Here are some tips on how to respond to the fitness center manager’s complaint and help prevent future occurrences of the problem:
Show Empathy As a delivery person, it's important to show empathy by acknowledging the manager’s frustration with the situation. This can help establish trust with the manager and encourage them to view you as a helpful and reliable resource.
Take Ownership of the Problem It is also important to take ownership of the problem by accepting responsibility for the issue and demonstrating that you are willing to work with the manager to find a solution. By doing so, you can help the manager feel confident that you will take steps to prevent future occurrences of the problem.
Offer Solutions To prevent future occurrences of the problem, the delivery person should offer some solutions. For instance, the delivery person can schedule regular deliveries to ensure that the machine is always stocked, or create a system where the manager can request a refill if necessary. This will help prevent future occurrences of the problem.
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Employee development focuses on:
a strong onboarding process.
the development of soft skills.
teaching employees new job functions.
the development of hard skills.
Answers
Answer:
B is the answer of this question
This service allows you to pay at a point of sale and accesses funds in the bank but usually does not charge you a fee:
A credit card
A student loan
A debit card
A car loan
Answers
Answer:
A debit card
Explanation:
A debit card allows customers to make electronic payments using the funds at their bank accounts. If the customer does not have sufficient funds in their bank accounts, the transaction won't go through.
A debit card is similar to a credit card in appearance. However, a debit card does not levy interest fees or late payment fees because it's not a credit facility.