What is a reorder point?
What will be an ideal response?
A reorder point is the inventory level (point) at which action is taken (an order placed) to replenish the stocked item.
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How would customer's NSF checks be dealt with in a bank reconciliation?
a. added to company's book balance b. deducted from company's book balance c. added to bank statement balance d. deducted from bank statement balance
Which of the following Big 5 personality traits describes a tendency to be anxious or moody?
A. openness B. conscientiousness C. neuroticism D. agreeableness
The majority of products are actually a combination of goods and services
Indicate whether the statement is true or false
The 2013 year-end balance in Accounts Receivable, Gross, for Healthy Lawn Maintenance is $1,085,000 An aging of these accounts receivable shows that the estimated uncollectible amount is $24,200 . Before aging the accounts, the Allowance for Uncollectibles has a debit balance of $15,000 from writing off actual accounts during 2013 . Healthy Lawn Maintenance would record the following adjusting
entry at the end of 2013 to obtain a credit balance in the Allowance for Uncollectibles of $24,200: a. Bad Debt Expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,200 Allowance for Uncollectibles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,200 b. Allowance for Uncollectibles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,200 Bad Debt Expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,200 c. Allowance for Uncollectibles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39,200 Bad Debt Expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39,200 d. Bad Debt Expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39,200 Allowance for Uncollectibles . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . 39,200 e. Allowance for Uncollectibles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,000 Bad Debt Expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,000