The following selected amounts are reported on the year-end unadjusted trial balance report for a company that uses the percent of sales method to determine its bad debts expense. Accounts receivable$435,000DebitAllowance for Doubtful Accounts 1,250DebitNet Sales 2,100,000CreditAll sales are made on credit. Based on past experience, the company estimates 1% of credit sales to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense?
A. Debit Bad Debts Expense $7,350; credit Allowance for Doubtful Accounts $7,350.
B. Debit Bad Debts Expense $22,250; credit Allowance for Doubtful Accounts $22,250.
C. Debit Bad Debts Expense $15,225; credit Allowance for Doubtful Accounts $15,225.
D. Debit Bad Debts Expense $21,000; credit Allowance for Doubtful Accounts $21,000.
E. Debit Bad Debts Expense $19,750; credit Allowance for Doubtful Accounts $19,750.
Answer: D
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Answer the following statements true (T) or false (F)
1. A good organizational culture can facilitate a low turnover rate. 2. Sometimes an organizational structure can be strong enough to take the place of organizational culture. 3. When employees are forced to adhere to an organization's values through extensive procedures and bureaucracies, its culture is said to be weak. 4. The fit perspective assumes that the most effective cultures help organizations anticipate and adapt to environmental changes.
The interconnected nature of the world economy is referred to as internationalization.
Answer the following statement true (T) or false (F)
Refer to Data Table A. The value 13.10 is ______.
a. the grand mean
b. the average of values for Item 1
c. the average of values for Item 2
d. the average of values for Item 3
Aaron has started working for a new firm. There are thirty people on his floor. He is having problems remembering their names. Which of the following should Aaron do to improve his ability to recall names?
A. He should address them with titles like Mister or Miss and not worry about remembering names. B. He should maintain a notebook with people's names and their photos. C. He should ask them their names every time he meets them. D. He should call people by their names two or three times while talking to them.