a) The amount the company would report as its net accounts receivable on December 31, 2020 will be $745,000; b) the journal entry would include records of allowance for doubtful accounts (debit) and accounts receivable (credit); c) amount the company would report as its net accounts receivable on December 31, 2020 will be $745,000; and, d) the net accounts receivable has not changed from December 31, 2020.
a. The amount Extreme Fitness would report as its net accounts receivable on December 31, 2020, is calculated as follows: Accounts Receivable ($800,000) - Allowance for Doubtful Accounts ($55,000) = $745,000.
b. To prepare the journal entry to write off the accounts on January 2, 2021, you would debit the Allowance for Doubtful Accounts for $10,000 and credit the Accounts Receivable for $10,000:
Allowance for Doubtful Accounts (Debit) 10,000
Accounts Receivable (Credit) 10,000
c. Assuming no other transactions occurred between December 31, 2020, and January 3, 2021, as its net accounts receivable on December 31, 2020, as follows: Accounts Receivable ($800,000 - $10,000) - Allowance for Doubtful Accounts ($55,000 - $10,000) = $790,000 - $45,000 = $745,000.
d. The net accounts receivable has not changed from December 31, 2020, as it remains at $745,000.
To learn more about Accounts Receivable, visit: https://brainly.com/question/24871345
#SPJ11
What are the five C's of the marketing mix
The 5Cs in the marketing mix are Company, Collaborators, Customers, Competitors, and Context.
What is a Marketing mix?The marketing mix is the collection of activities, or tactics, that a business employs to market its brand or merchandise.
A marketing framework called the 5C Analysis is used to examine the environment in which a company operates.
Along with risk exposure to various environmental factors, it can shed light on the main success factors. The 5Cs are Company, Collaborators, Customers, Competitors, and Context.
Learn more about marketing mix here:
https://brainly.com/question/28395764
#SPJ1
4. Identify three factors that can lead to conflict in a hospitality environment
Conflicts in hospitality environments can arise due to various factors, but some common factors include communication breakdowns, personality clashes, and workload imbalances.
Poor communication can lead to misunderstandings between staff members and with customers, which can result in conflicts. Personality clashes can arise when different personalities or work styles do not mesh well together, leading to friction and tension among employees. Workload imbalances can lead to feelings of resentment and unfairness, especially if some employees feel like they are doing more work than others without proper recognition or compensation.
Hospitality environments require effective communication, collaboration, and a positive work culture to prevent and address conflicts in a timely and respectful manner.
To know more about conflicts click here:
brainly.com/question/28682565
#SPJ4
Furniture is an
O asset
O expense
O none of the above
Answer:
Asset.
Explanation:
An asset is a useful or valuable thing or person.
The most important, most convenient, and most flexible way in which the Federal Reserve affects the supply of bank reserves is through:
Answer: open market operations
Explanation:
How is Apple employing the concept of marketing in the creation of the iPhone?
Answer:
I think it would be that they want the world to change and evolve along with technology, it was me on the other question btw heyy
Explanation:
What is one advantage corporations have over other types of businesses?
O A. Corporations are the easiest businesses to set up.
B. Corporations have a nearly unlimited life span.
C. Corporations have fewer legal regulations to follow.
O D. Corporations are controlled by only one person.
SUBMIT
Answer:
B
Explanation:
ONE advantage corporations enjoy over other business forms is B. Corporations have a nearly unlimited life span.
Corporations do not cease to operate if one or some of the owners die. Each stockholder's shares are transferable by inheritance or sale. Corporations enjoy perpetual existence.
Other advantages of corporations over other business forms are:
Shareholders enjoy the protection of personal liability (limited liability of ownership)Shareholders have a business that is professionally managedThe business type has easy access to funds.
Unfortunately, corporations are not the easiest to form because of the rigid formalities accompanying their formation and management. Shareholders suffer double taxation because the corporation pays taxes as an entity, and shareholders pay another tax when they receive dividends. The legal regulations are many and time-consuming.
Thus, the unlimited life span of corporations makes them the best form of business since control and ownership of a corporation are not limited to one individual.
Read more: https://brainly.com/question/14497294
of chester corporation’s products, which earned the highest net margin as a percentage of its sales?
To determine which product earned the highest net margin for Chester Corporation, one would need access to the company's financial statements or data containing the net income and net sales revenue for each product.
The net margin is a financial metric that measures the profitability of a company's products. It is calculated by dividing the net income by the net sales revenue and expressing it as a percentage. The higher the net margin, the more profitable the product is.
To determine which of Chester Corporation's products earned the highest net margin as a percentage of its sales, we need to compare the net margins of each product.
First, we need to gather the net income and net sales revenue data for each product. Once we have this information, we can calculate the net margin for each product using the formula:
Net Margin = (Net Income / Net Sales Revenue) * 100
After calculating the net margin for each product, we can compare the percentages to identify the product with the highest net margin. The product with the highest net margin will have earned the highest percentage of its sales as net income.
It is important to note that without specific data on the net income and net sales revenue of each of Chester Corporation's products, we cannot provide a definitive answer to this question. To determine which product earned the highest net margin, you would need access to the financial statements or data of the company.
To learn more about net margin
https://brainly.com/question/28180283
#SPJ11
Antonio, a 45-year-old, has been charged with fraud for conning an elderly couple into giving him their atm card. a judge listens to the evidence against him and decides that antonio should be charged. antonio’s lawyer points out that he has never been a violent person. he concedes that the charge against antonio is serious but promises that if set free until trial, he will return to face the charges. given his history and the crime, what will the judge most likely do to antonio at this stage? he will release antonio on his own recognizance. he will release antonio into the custody of his wife he will set bail for antonio at $3000 he will detain antonio in jail until the trial date
If Antonio, a 45-year-old, has been charged with fraud for conning an elderly couple into giving him their atm card. The judge will likely: C. He will set bail for Antonio at $3000.
Fraud can be defined as the act of deceiving someone due to the benefit that a person what to derived or due to the selfish interest of the person who defraud another person. A fraudulent act is a criminal act in the court of law.
Based on the given scenario since the judge listens to the evidence against Antonio and decides that he should be charged , based on the history and crime of Antonio what the judge is likely to do is to set bail for Antonio at the amount of $3,000.
Therefore we can conclude that the correct option is C.
Learn more about fraud here:https://brainly.com/question/1063454
#SPJ1
fast pls In collective bargaining, wages and hours are examples of
compulsory subjects.
Illegal subjects.
permissive subjects.
non-entities.
In collective bargaining, wages and hours are not examples of non-entities.
What about it?Collective bargaining is a negotiation process between an employer and a group of employees, often represented by a labor union, to establish terms and conditions of employment.
Wages and hours are actually key components of these negotiations, as they directly affect employees' working conditions and compensation.
During the collective bargaining process, both parties discuss and agree upon wages, working hours, and other terms to create a mutually beneficial agreement.
Therefore, wages and hours are important entities in collective bargaining, rather than non-entities.
Hence, the answer is non-entities.
To know more about Collective bargaining visit:
https://brainly.com/question/31926067
#SPJ11
Ian is interested in purchasing bonds, but he is looking for bonds that aren’t related to the government. Which type of bonds would you suggest he purchase?
treasury bonds
municipal bonds
corporate bonds
general obligation bonds
Answer:
The principal of a Brady bond is backed by U.S. Treasury bonds that are deposited with the Federal ... A corporate bond has a 12% nominal yield. ... General Obligation Bond's credit risk:.
Explanation:
try it
Treasury bonds are the type of bonds would you suggest the purchase. Hence, option A is correct.
What is Treasury bonds?Until they complete, Treasury bonds provide a fixed rate of interest every six months. They are given out for 20 or 30 year contracts. Treasury Direct is where a person may purchase Treasury bonds from a financial institute. Additionally, a person can purchase them from a bank or broker.
Treasury bonds are among the safest assets a person can buy because they are supported by the full faith and credit of the United States Government. They often don't provide a very high return because there is so little chance that you will lose money.
Thus, option A is correct.
For more details about Treasury bonds, click here:
https://brainly.com/question/1246006
#SPJ5
Why can’t companies use the name super bowl in their ads?.
Answer:
If they don’t pay a fee to the NFL, then they can’t use the name Super Bowl in ads, so instead they use other things like "The Big game," or "The Super Game" etc. Since they don't have permission.
Explanation:
the main units of local government.
Answer:
There are four main types of local government- counties, municipalities (cities and town), special districts, and school districts. Counties are the largest units of local government, numbering about 8,000 nationwide. They provide many of the same services provided by cities.
Explanation:
How important is money
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
What are B2C and B2B sales?
B2C and B2B sales refers to business-to-consumer and business-to-business sales respectively.
What is business-to-consumer sales?Business-to-consumer (B2C) companies having consumers as their end-users increasingly came to be known by this phrase when it gained popularity in the 1990s.
This contrasts with business-to-business (B2B) firms, or those whose main customers are other businesses. B2C businesses conduct their business online and offer goods to clients. Several B2C corporations include Amazon.
B2C, or business-to-consumer, is a retail model where things are delivered directly to the customer who has made a personal purchase of the goods or service.
Business-to-business sales are referred to as B2B sales. It describes enterprises or salespeople who engage in direct business-to-business (B2B) sales of goods and services.
To learn more about Business-to-business sales
https://brainly.com/question/15506646
#SPJ6
PLEASE
what is lean production? in details (GCSE) keywords.
Answer:
actually I am very sorry I didn't learn this I don't take business
Explanation:
Sorry would there be anything else I can help u with
What health issue did Feiler face that led him to consider his family?
Answer in 150 words
There are many different charts you can use in Excel to convey and analyze data, Pie, Line, and Funnel to name a few. What do you think is the most effective chart to use to read and interpret data. Please explain your reasons for choosing this chart.
The most effective chart to use to read and interpret data depends on the type of data and the specific insights you are trying to convey.
What is data?Data refers to information that has been collected, organized, and stored for later use. Data can be structured or unstructured, meaning it may or may not be organized in a specific way. It can be generated from a variety of sources, such as sensors, surveys, social media, and transactions. Data is analyzed to gain insights and make informed decisions in various fields, such as business, healthcare, science, and government. With the increasing use of technology, data is becoming an increasingly valuable resource that can be used to improve efficiency, solve problems, and drive innovation. However, data also raises concerns about privacy, security, and ethics, and must be handled with care.
To learn more about data, visit:
https://brainly.com/question/29556974
#SPJ1
Seaside industries issues a bond with a stated interest rate of 10%, face amount of $50,000, and due in 5 years. Interest payments are made semiannually. The market rate for this type of bond is 12%. What is the issue price of the bond (rounded to nearest whole dollar)? (use pv of $1 and pva of $1).
The market rate for this type of bond is 12% and the issue price of the bond (rounded to nearest whole dollar) is $46, 320.
Calculation:$50,000 in face value
10% state rate
five years, 12% semi-annual market rate
Coupon payments: 50,000 * 10% equals 5,000 year; 5,000 divided by two equals 2,500 semi-annually.
Value = Bond Price + (Present Value of Coupons) (Present value of face)
Value = (2500/0.06) [1- (1.06)⁻¹⁰)] + (50000 / 1.06¹⁰ )= $46, 320
What does the phrase "have face value" mean?Face value is a term used in finance to describe a security's nominal or monetary worth as stated by its issuer. The face value of stocks is the original purchase price of the shares, as shown on the certificate.
To know more about face value visit:-
https://brainly.com/question/14294215
#SPJ4
Which defines room and board?
O housing and meals that are often provided at additional cost
O monetary support that is used to help pay educational costs
O an educational institution or establishment, in particular one providing higher education
O a school that provides training in a specific skill or trade
Room and board are defined as educational institutions or establishments, particularly ones providing higher education. Thus the correct option is C.
What is the definition?A definition of any word is a detailed description defining the accurate meaning to the reader in order to gain information and understand the meaning to utilize in vocabulary and used in any sentence.
Education and knowledge are not equivalent. Education is the means by which you acquire knowledge, which is what you already know. Knowledge is any truth or piece of information that you can retain and apply. We discover new things through education.
Therefore, option C is appropriate.
Learn more about Education, here:
https://brainly.com/question/29287243
#SPJ1
1. Which defines room and board?
housing and meals that are often provided at additional cost
2. What is the definition of a college?
an educational institution or establishment, in particular one providing higher education
3. Which describes financial aid?
monetary support that is used to help pay educational costs
4. Which defines continuing education?
the formal classes that focus on a specific area of study, not usually taken for credit
5. What is post-secondary education?
the education level that follows the successful completion of high school
4/20/2023Which is a characteristic of judging approach
Answer:
Clarity and Closure
Explanation
Judgers take a planned, ordered, and precisely calibrated approach to life, developing both short- and long-term plans to assist them in achieving their objectives. For them, schedules and "to-do" lists are consoling. They dislike uncertainty and change, preferring to know what they are getting into instead.
Those that have this preference feel more in control of their surroundings. They are disciplined and resolute, seeking resolution as soon as possible to reduce stress. Judgers struggle with open-ended plans because they have a "work first-play later" mentality. Instead of addressing issues as they arise, they would prefer to devise three distinct backup plans.
Judgers take their obligations and deadlines very seriously, both in business and in life. They are quite particular.
. producers have little incentive to produce a public good because a. the social benefit is less than the private benefit. b. the social benefit is less than the social cost. c. there is a free-rider problem. d. there is a tragedy of the commons.
A producers have little incentive to produce a public good because there is a free-rider problem. The Option C is correct.
What is the problem of free-rider?In social sciences, a free-rider problem refers to a type of market failure that occurs when the people that benefit from resources, public goods, or services of a communal nature do not pay for them or under-pay for such things. So, in essence, a free riders are a big problem because while not paying for the good, the people may continue to access or consume it.
Read more about free riders
brainly.com/question/25800077
#SPJ1
ers to any paid, non-personal communication through various media by non-profit organizations, corporations, or individuals who are in some way identified in the message
The term you are referring to is "advertising." Advertising refers to any paid, non-personal communication through various media by non-profit organizations, corporations, or individuals who are in some way identified in the message.
It is a form of marketing communication that aims to promote a product, service, or idea to a target audience. Advertising can be done through different channels such as television, radio, print, online platforms, and social media. Its purpose is to inform, persuade, and influence consumer behavior.
Through advertising, organizations and individuals can reach a wider audience and create brand awareness. Effective advertising campaigns often employ creative strategies and persuasive techniques to engage and attract consumers.
To know more about advertising visit;-
https://brainly.com/question/32251098
#SPJ11
Listing contracts, disclosures, and seller net sheets all have to do with
an understanding of:
Answer:the seller's expected expenses related to the transaction and the expected profit based on a specific sales price.
Explanation:
pretax accounting income for the year ended december 31, 2024, was $50 million for truffles company. truffles' taxable income was $60 million. this was a result of differences between straight-line depreciation for financial reporting purposes and accelerated depreciation for tax purposes. the enacted tax rate is 25% for 2024 and 30% thereafter. what amount should truffles report as the current portion of income tax expense for 2024?
To determine the current portion of income tax expense for Truffles Company for the year ended December 31, 2024, we need to calculate the income tax payable based on the taxable income and the applicable tax rates.
First, we need to calculate the income tax payable for the year ended December 31, 2024, using the taxable income of $60 million and the enacted tax rate of 25%. The income tax payable is $15 million.
Next, we need to calculate the deferred tax liability for the year ended December 31, 2024, due to the difference between straight-line depreciation for financial reporting purposes and accelerated depreciation for tax purposes. This will result in a lower taxable income in future years and a higher income tax expense due to the higher tax rate. The deferred tax liability is calculated as the difference between the income tax payable at the current tax rate and the income tax payable at the future tax rate. In this case, the deferred tax liability is $3 million.
Therefore, the total income tax expense for the year ended December 31, 2024, is the sum of the current income tax payable and the deferred tax liability, which is $18 million. The current portion of income tax expense for 2024 is the amount of income tax payable for the year, which is $15 million.
In summary, Truffles Company should report $15 million as the current portion of income tax expense for 2024, based on the taxable income of $60 million and the enacted tax rate of 25%.
Know more about income tax expense here:
https://brainly.com/question/28575903
#SPJ11
Palmona Company establishes a $310 petty cash fund on January 1. On January 8, the fund shows $205 in cash along with receipts for
the following expenditures: postage, $43; transportation-in, $14; delivery expenses, $16; and miscellaneous expenses, $32. Palmona
uses the perpetual system in accounting for merchandise inventory.
1. Prepare the entry to establish the fund on January 1.
2. Prepare the entry to reimburse the fund on January 8 under two separate situations:
a. To reimburse the fund.
b. To reimburse the fund and increase it to $360. Hint. Make two entries.
The entry to establish the fund on January 1 is: Debit Petty Cash Fund 310, Credit Cash 310
How to prepare journal entry?1. Entry to establish the fund on January 1:
Debit Petty Cash Fund 310
Credit Cash 310
2a. Entry to reimburse the fund on January 8:
Debit Postage Expense 43
Debit Transportation-In Expense 14
Debit Delivery Expense 16
Debit Miscellaneous Expense 32
Credit Cash 105
2b.8-Jan
Debit Petty Cash $255
($360 - $105)
Credit Cash $255
(Being increment of petty cash recorded)
Therefore the entry is Debit Petty Cash Fund 310, Credit Cash 310.
Learn more about journal entry here:https://brainly.com/question/14279491
#SPJ1
On May 1, 2016, a firm purchased a 1-year insurance policy for $3,600 and paid the full premium in advance. The insurance expense associated with this policy for the year ending December 31, 2016, is
A.) $3,600.
B.) $2,400.
C.) $2,100.
D.) $1,200.
The insurance expense associated with the policy is:
B.) $2,400.
What is the cost of the insurance expense?When the firm purchased the 1-year insurance policy for $3,600 on May 1, 2016, they paid the full premium in advance. Since the policy covers a period of one year, the insurance expense for the year ending December 31, 2016, can be determined by dividing the total premium by the number of months in the coverage period and multiplying it by the number of months in that year.
In this case, the coverage period is 12 months, and the number of months in the year 2016 is also 12. Therefore, the insurance expense is calculated as $3,600 / 12 * 12 = $2,400.
Learn more about insurance expense
brainly.com/question/14808397
#SPJ11
Tickets to a fundraiser are $14 if purchased ahead of time and $25 if purchased at the door. The total amount raised from all ticket sales was $625. If eleven tickets were purchased at the door, how many tickets were purchased ahead of time?.
Using complete sentences, explain the difference between a need and a want and give an example of each.
Answer:
A need is something that you can't survive without. For example, you need food, water, shelter and clothing. A want is something you can live without, but having it makes life more enjoyable. For example, a TV, a cell phone, and a cool toy are all wants.
How do performance standards best promote ethical behavior?
Answer:
reviews and if manage hold themselves to a high standard of ethical behavior how do managers deal with overstaffing problems teaching employees better time management/.
Explanation:
How does Hurricane Katrina illustrate the problem with insurance?
Answer:How does Hurricane Katrina illustrate the problem with insurance? It illustrates the problem with insurance because it was a wide spread disaster for many people. ... It's not like insurance companies have an unlimited supply of money so they often declined a lot of people's claims. This was often very discriminating too
Explanation:mark brainliest ineed 2 more