A firm with highly unpredictable sales revenue would best choose ________ funding strategy to minimize risk
A) the aggressive
B) the conservative
C) the trade-off
D) a seasonal
B
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Ratios and various other analytical measures are not a substitute for sound judgment, nor do they provide definitive guides for action
a. True b. False Indicate whether the statement is true or false
In the context of the meaning of work, which of the following statements is true?
A. Work does not include any task, accomplishment, or undertaking unless it generates an income. B. The meaning of work is likened with being idle, relaxing, playing, and activities such as reading a book or playing a round of golf. C. Work means activities that involve perseverance, discipline, toil, usually performed with a degree of seriousness and concentration. D. An activity is not regarded as work unless the worker's identity and the activity are "morally inseparable."
What are two examples of situations that increase price competition?
What will be an ideal response?
On December 31, the Jacob, Inc. general ledger contained the following balances prior to write-offs and adjustments:
Trade Accounts Receivable$ 623,450 Allowance for Doubtful Accounts15,800 (credit)Net Credit Sales2,529,000 Before completing an aging analysis to determine the estimated amount uncollectible, Jacob decided to write off $7,500 of an account past due over 360 days.Aging of the accounts receivable balance after the write-off on December 31 indicated the following: Estimated Percentage AgeAmount Uncollectible Under 30 days $358,900 1.5% 30-90 days 134,000 3.0% 91-180 days 96,000 7.0% 181-360 days 22,700 20.0% Over 360 days 4,350 60.0% $615,950 Required: a.Prepare the necessary journal entry to record the write-off.b.Prepare the adjusting journal entry at December 31 to record Jacob, Inc.'s estimated bad debts assuming that the company uses the aging of accounts receivable method.c.What is the net realizable value of accounts receivable on the December 31 balance sheet? What will be an ideal response?