Percent of sales method; write-off

At year-end (December 31), Chan Company estimates its bad debts as 0.5% of its annual credit sales of $975,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $580 account of P. Park is uncollectible and writes it off as a bad debt. On June 5, Park unexpectedly pays the amount previously written off. Prepare the journal entries of Chan to record these transactions and events of December 31, February 1, and June 5.

Answer:

As the world population grows and middleclass incomes rise, demand for livestock products increases—a consumption boom shaped by two decade of rapid economic growth and globalization. But there are certain high impact diseases that do not allow animal husbandry to flourish. Less dramatic diseases also impact the performance of farm animals, leading to lower production efficiencies and associated financial losses due to mortality and morbidity. Also, poor animal health in turn negatively influences animal welfare. In fact, studies have demonstrated that there is a direct correlation between the quality of livestock production and the provision of veterinary services.2 Given that food animals support the livelihoods and nourishment of almost a billion people, efforts should be directed at upholding food security.

In this regard, farm-oriented veterinary professionals should advise farmers and owners of livestock or managers of animal production systems on the most appropriate herd health management practices according to local and regional agro-ecological contexts. This extends beyond the treatment of animal illnesses or the implementation of preventive measures, such as strengthened biosecurity, programmed de-worming or vaccination, but also addresses housing, nutrition, cleaning, and environmental sanitation. The correct undertaking of latter practices will likely reduce the usage of veterinary medications and care, thereby reducing input and labor costs, which in turn positively influences farm productivity and profit margins.

The role of a veterinary doctor includes:

A veterinary doctor is a professional who specialises in the care and treatment of animals.

A vet is in charge of the various aspects of an animal by ensuring that they live, eat healthy and also administer treatment when the animals are sick.

They can also perform surgery on an animal in severe situations that require medical emergency. They are important in the life of animals and their owners.

Read more here:

https://brainly.com/question/14450519

Answer:

Incorporating the business and selling the shares to investors to take over as successors

Explanation:

Business incorporation is the legal process through which a business is formed.This allows an incorporated business to sell shares or stocks to interested investors , giving them the power of ownership in proportion to the volume of shares held , and the liability limited to the investment in the business.

It has the advantage over other methods of succession planning in active involvement in the business , limited liability and easier procedures.

Answer:

The company should recognize $2,000 in revenue.

Explanation:

The accrual principle in accounting states that revenues should match expenses. While the company received $5,000 in cash from the customer, in the current month, it will only have delivered $3,000 in products. In other words, it will only have incurred in the expenses necessary to deliver those $3,000.

For that reason, for the current month, the company will only recognize $3,000 in revenue, while the following month, it will recognize the remaining $2,000.

The company should record revenue of $2,000 for this month.

The $3,000 received is for the last month, which means that the revenue for this transaction was recorded last month with an increase in accounts receivable. Therefore, this month the accounts receivable will be decreased with an increase in cash.

However, in the case of $2,000 the transaction is being made for future sales. The transaction would be recorded as an increase in revenue (sales) and an increase in cash.

Hence, only $2,000 will be recorded as revenue for this month.

Learn more on revenue recording here: https://brainly.com/question/5010039

Answer:

Cost

Explanation:

SEGMENTATION can be defined as the process or ways of dividing or segmenting business market into groups or parts based on the types of features or characteristics they shared which is why MARKET SEGMENTATION is important and vital to company or organisation because it enable them to easily target the people or individual that are likely to be satisfied with their product.

Hence, For a firm, company or organisation to segment their markets it will depends on the balance that the company or organisation wants or desire to achieve between the customer value that the market segmentation can offer and its COST.

Answer:

Option B, “Each player believes it is doing the best it can given the behavior of rivals” , is the right answer.

Explanation:

Option B is correct because Nash equilibrium is the situation where each player is earning the highest payoff and there is no intention to change their optimum strategy. However, if any player changes their strategy then they will get the lower payoff. Therefore, in the Nash equilibrium, each player knows his best moves and also knows the behavior of their competitor.

Explanation:

1. Since my competitor– 'Create your own yogurt' uses artificial flavors, I need to determine what those flavors are, and why they may be better than mine.

2. After noting the recipe used by my competitors, I will improve my own recipe using natural flavors which are medically advisable, while improving on branding and marketing efforts.

3. Price is usually going to be my greatest advantage over my competitor, followed by quality, and so I will consider a reduction in my yogurt prices, while striving at maintaining superior quality.

Answer:

sample response:  First, I will focus on lowering prices. I will do this by making sure my costs to run the business are low, and I will start by running the shop myself. I will create a better product by using healthier, better ingredients to attract more customers. Finally, I will be innovative by offering ingredients that aren't sold anywhere else.

Explanation:

Answer:

The first graph represents the housing market with rent control fully in place.  In such a housing market, rent does not get out of hand before government intervention.

Explanation:

With the first graph, t the market could not reach the equilibrium point without the rent control stopping the market forces of supply and demand from exceeding a controlled price (rent).  It shows the effect of price control on the market dynamics.  With a control on the price (house rent by government), a certain price is imposed on the suppliers and consumers so that they do not go above the prescribed limit.  This is what obtains in a controlled economy.  On the other hand, in a free market, government does not intervene with control mechanisms, instead it allows the market forces to interact, enabling aggregate production and consumption of goods and services.

Answer:

[tex]\dfrac{7x+19}{(x+1)(x+5)}=\dfrac{3}{x+1}+\dfrac{4}{x+5}[/tex]

Explanation:

The given expression is  

[tex]\dfrac{7x+19}{(x+1)(x+5)}[/tex]

We need to resolve this into partial fraction.

The form of the partial fraction decomposition is

[tex]\dfrac{7x+19}{(x+1)(x+5)}=\dfrac{A}{x+1}+\dfrac{B}{x+5}[/tex]        ...(1)

[tex]\dfrac{7x+19}{(x+1)(x+5)}=\dfrac{A(x+5)+B(x+1)}{(x+1)(x+5)}[/tex]

[tex]7x+19=Ax+5A+Bx+B[/tex]

[tex]7x+19=(A+B)x+(5A+B)[/tex]

On comparing both sides, we get

[tex]A+B=7[/tex]      ...(2)

[tex]5A+B=19[/tex]    ...(3)

Subtract (2) from (3), we get

[tex]4A=12[/tex]

[tex]A=3[/tex]

Put A=3 in (1).

[tex]3+B=7[/tex]

[tex]B=4[/tex]

Put A=3 and B=4 in (1).

[tex]\dfrac{7x+19}{(x+1)(x+5)}=\dfrac{3}{x+1}+\dfrac{4}{x+5}[/tex]

Therefore, [tex]\dfrac{7x+19}{(x+1)(x+5)}=\dfrac{3}{x+1}+\dfrac{4}{x+5}[/tex] .

Answer:

A) The higher the GDP of a country, the more equal its income distribution.

This statement is incorrect. There is no clear correlation between GDP and income distribution.

There are countries with very large GDPs and very unequal income distribution like Brazil, while there are others with large GDPs and very equal income distribution, like Japan.

Others, like the United States, fall somewhere in the middle.

Answer:

The decrease in the effective price received by sellers is between $0.51 and $1.

Explanation:

Given the demand for picture = Inelastic

The supply of picture frames = highly elastic

Levied tax on picutre frames = $1

It is given that the demand for the frames is highly inelastic therefore the response of the buyer will be less. That means the proportionate change in demand will be lower than the proportionate change in the price of a commodity. Thus, the answer will be between $0.50 and $1.

Answer:

The margin call will be $6,000.

Explanation:

Since there is no debit balance in the customer's margin account, it implies that the customer is not owing the broker on margin.  The additional purchase of the 100 shares of XYZ necessitates the margin call by the broker for the customer to fund his margin account by paying additional funds worth $6,000 to cover the purchase of XYZ shares by the broker on his behalf.

A margin account is an account maintained by a broker on behalf of his customer through which the customer is able to buy and sell securities using his own funds and the broker's.  The implication is that the customer's equity in the account is equal to the market value of the securities minus the borrowed funds from the broker.

Answer:

Should hire both more of X and Y

Explanation:

Material requirement planning(MRP) is a production planning system employed in resource management for manufacturing processes. From the above the company requires x and y resources which amount to $100 and $60 respectively. Since x and y resources each cost $50 and $20 respectively, the company can employ 2 units of X and 3 units of y capacity respectively.

Answer:

The entry to recognize the exchange :

Land $318,000 (debit)

Common Stock $300,000 (credit)

Accounts Payable $300,000 (credit)

Explanation:

The Price of stock is equivalent to the issue price at the date of the transaction of $12.

Note that the Common Stocks do not have par value, this means there is no share premium reserve on the stocks that needs to be recognized.

Since the Price of land is above the price of common stocks, the remainder is the amount owing, a liability.

Answer: Joint venture

Explanation:

From the question, we are informed that the NorthStar Inc. and The Royal Group have together established The Royal Star Group of hotels and that the NorthStar owns 49 percent and The Royal Group has a 51 percent share in The Royal Star Group of hotels.

This is a joint venture. A joint venture is a form of business arrangement whereby the resources of two or more parties are used together in order to accomplish q particular goal.

Answer:

Cost of equity = 19.1 %

Explanation:

Cost of equity = required rate of return + flotation cost

The Capital assets pricing model would be used to determined  the required rate of return

The capital asset pricing model (CAPM): relates the price of a share to the market risk or systematic risk. The systematic risk is that which affects all the all the economic agents, e.g inflation, interest rate e.t.c  

Using the CAPM , the required rate of return is given as follows:  

E(r)= Rf +β(Rm-Rf)  

E(r) - required return

β- Beta

Rm- Return on market

Rf- Risk-free rate

DATA

E(r) =? , Rf- 3%, Rm-14% , β- 1.1, flotation cost - 4%

E(r) = 3% + 1.1× (14% - 3%) = 15.1 %

Cost of equity = required rate of return + flotation cost

                        = 15.1 % + 4% = 19.1 %

Cost of equity = 19.1 %

The question is incomplete:

A Head of Your Time is a local salon that requires all stylists to have graduated from an accepted beauty college and pass the state licensing examination prior to starting employment. Due to strict customer service requirements and potential lawsuits resulting from inadequate knowledge regarding the use and care of certain chemicals and solutions, this business can clearly justify its hiring criteria:

a. against affirmative action complaints.

b. as bona fide occupational qualifications.

c. against comparable worth charges.

d. as a tool to prevent unionization.

Answer:

as bona fide occupational qualifications

Explanation:

-Affirmative action complaints are complaints employees present when they believe that they have been discriminated at work.

-Bona fide occupational qualifications are the skills that can be taken into account by an employer when making a decision about hiring or maintaining an employee and these should be necessary for the employee to perform the job.

-Worth charges refer to establishing a price that includes the value of your work.

-Tool to prevent unionization refers to using something as a way to avoid employees to organize a labor union.

According to this, the answer is that due to strict customer service requirements and potential lawsuits resulting from inadequate knowledge regarding the use and care of certain chemicals and solutions, this business can clearly justify its hiring criteria as bona fide occupational qualifications because to be able to perform this job, stylists should have certain knowledge and skills to avoid issues when treating customers and because of that, the employers can require the candidates to have these specific qualifications for them to do a good job.

The other options are not right because this hiring criteria can't be justified with afirmative action complaints as these are complaints made by employees when they are discriminated and this is not related to an argument to justify requesting stylists to have certain qualifications. Also, worth charges and a tool to prevent unionization doesn't have a relation to justify hiring qualifications requested by this salon.

Answer:

option c

Explanation:

In simple words, An incidental recipient refers to the third party benefiting from a deal with two certain parties, however it is never meant to support a third party. Accordingly, that third party has no legal protection underneath the deal in the agreement. Thus, from the above we can conclude that the correct option is C.

Answer:

intrinsic rewards

Explanation:

In this scenario, it seems that Mike is focused on the intrinsic rewards of his job. These are rewards that come from within the employee themselves. For example, an employee who is motivated is working for his/her own satisfaction and finds meaning in their challenging work, which in term is the intrinsic reward. In this case, the job satisfaction and sense of accomplishment are the intrinsic rewards that Mike wants from his job.

Answer:

A) Type of corporate governance that is most effective and ways in which it can put the formulated strategy into practice.

Explanation:

Strategy implementation is the translation of chosen strategy into organizational action so as to achieve strategic goals and objectives. Strategy implementation is seen to the forth class of management when it falls into strategy management. It can also be defined as the manner at which a said organization probably should develop, amalgamate and also utilize the organization by controlling its system structures and also its culture which is primarily led by strategies which is been used in its running. This makes manager primary focus on deciding always on the type of corporate governance that is most effective and ways in which it can put the formulated strategy into practice.

During strategy implementation, managers primarily focus on deciding the type of corporate governance that is most effective and ways in which it can put the formulated strategy into practice. Thus, option A is correct.

Implementing a chosen strategy into organizational action in order to accomplish strategic goals and objectives is known as strategy implementation. When it comes to strategy management, strategy implementation is viewed as belonging to the fourth class of management.

It may also be described as the process by which a particular organization should grow, unite, and utilize itself by managing the system structures and culture, which are essentially governed by the strategies that have been employed in operating the organization. Because of this, the manager's top priority becomes determining the best form of corporate governance and how to implement the defined plan.

Learn more about strategy management here:

https://brainly.com/question/14142259

#SPJ6

Answer:

$340,363.55

Explanation:

you need to calculate the future value of your deposit:

future value = present value x (1 + interest rate)ⁿ

future value = $12,000 x (1 + 0.032877%)¹⁴⁶⁰⁰ = $1,456,975.20

if the interest is compounded annually, the future value = $12,000 x 1.12⁴⁰ = $1,116,611.65

the difference = $1,456,975.20 - $1,116,611.65 = $340,363.55

Answer:

Refined's place of business

Explanation:

Based on the information given about the business transaction that want to occur between Refined Grains inc and Sunny Cereal Company, UCC which is fully known as UNIFORM COMMERCIAL CODE requires that the delivery of the refined oat that Refined Grains inc agreed to sell to Sunny Cereal Company should take place at Refined place of business, which means a company that want to sell their product to another company must tend to carryout the delivery of the Refined product at the Refined place of the business

Answer:

a) true

Explanation:

A rise in the general price level is called inflation and it affects the nominal value of the company's output. E.g. you sell pants and last year they sold at $10 and now since inflation rate is 10%, they sell at $11. But inflation only affects nominal values, it doesn't affect real values which are calculated using a base price of a certain year X, times the quantity sold. Following the example, your real output would not be $11 per pair of pants, instead it would still remain at $10 since the inflation is discounted.

Answer:

A). Reduced consumer spending and investment spending.

Explanation:

'Tight money' policy is elucidated as the contractionary monetary policy adopted by central banks to decrease the money supply in the market which helps in reducing consumer spending and curb inflation in the economy.

As per the question, when the government adopted this 'tight money' policy during the Great Depression, it led to 'a reduction in consumer spending as well as a reduction in spending on investment.' It led to the worsening downturn of the economy as this steep fall in consumer spending decreased the demand significantly, caused major unemployment, and led millions of investors to take their money back, and eventually, it led to the longest-running recession in the modern history. Thus, option A is the correct answer.

Answer:

candid

Explanation:

By being up-front with her customers about not knowing the answers, Susan builds trust because she is perceived as candid. An individual that is candid, is known to be truthful and straightforward. These individuals are seen by others to be trustworthy since they seem to always tell the truth even if it is hard for the other individual to hear and/or even if it gets themselves into trouble, such as is the case with Susan, since by saying that she does not know much about the product she may potentially lose clients or even get fired.

Answer: total ; greater than $30

Explanation:

Given the following :

Average variable cost = $30

Fixed cost > 0 ; therfore Average fixed cost > 0

Recall:

Average Total cost = (Average fixed cost + Average variable cost)

Average total cost = ( >0 + $30)

Average total cost = >$30

Therefore, when 50 bluetooths are produced in the short run, the average total cost is greater than $30

Answer:   Interest                                             Maturity Date

(a) 78110×7%×(60/360) = $911                          August 9

(b) 46200×8%×(90/360)= $924                          October 12

(c) 11700×9%×(75/360) = $219                                 July 11

Explanation:

To compute the interest we apply the following formula:

Interest= (Principal) × (Interest Rate) ×(Terms ÷360)

For the Maturity date, we add Terms to the Date of note .

By using the above formula for the given table, we get the following values

      Interest                                             Maturity Date

(a) 78110×7%×(60/360) = $911      August 9

(b) 46200×8%×(90/360)= $924     October 12

(c) 11700×9%×(75/360) = $219      July 11

Answer:

Option B: That the agreement would be enforced because the plaintiffs' attorney had apparent authority to enter into the agreement

Explanation:

Answer:

A. Cathy can still disaffirm.

Explanation:

Since Cathy is a minor, she shouldn't engage in contracts unless they involve basic necessities, e.g. food or shelter, and she can disaffirm a contract anytime before she reaches her 18th birthday. This is the reason why generally sellers require the parents to sign or give their consent to the contracts signed by minors.

Answer:

The decision will help the Firm purchase fabrics with more flexibility and at lower prices than when they produce them

Explanation:

Deciding to stop maintaining your own facilities used for production of fabrics to be used for final production as Grace Apparel inc have done and deciding to procure fabrics/materials  required for production from external sources will provide the firm the opportunity to purchase goods at comparably lower prices. it also helps them to compare the varying prices in the market for goods and services thereby giving them an in-depth knowledge of prices