If income from operations for a division is $30,000, sales are $263,750, and invested assets are $187,500, the investment turnover is 1.3
Indicate whether the statement is true or false
False
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At the end of the current year, using the aging of receivable method, management estimated that $15,750 of the accounts receivable balance would be uncollectible. Prior to any year-end adjustments, the Allowance for Doubtful Accounts had a debit balance of $375. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense?
A.
| Bad Debts Expense | 15,375 | |
| Allowance for Doubtful Accounts | 15,375 |
B.
| Bad Debts Expense | 15,750 | |
| Allowance for Doubtful Accounts | 15,750 |
C.
| Accounts Receivable | 15,750 | |
| Bad Debts Expense | 375 | |
| Sales | 16,125 |
D.
| Bad Debts Expense | 16,125 | |
| Allowance for Doubtful Accounts | 16,125 |
E.
| Accounts Receivable | 16,125 | |
| Allowance for Doubtful Accounts | 16,125 |
Indicate how each event affects the elements of financial statements. Use the following letters to record your answer in the box shown below each element. You do not need to enter amounts. Increase = I Decrease = D No Effect = NA (Note that "No Effect" means that the event does not effect that element of the financial statements or that the event causes an increase in that element is offset by a decrease in that same element.)A transaction recorded as a debit to Cash and a credit to Common Stock.Assets Liabilities Stk. Equity Revenues Expenses Net Income Stmt of Cash Flows???????
What will be an ideal response?
Sigborne Corp., a food and beverage company, commences its budgeting process by requesting the middle managers of the company to collect data from their respective departments and submit a consolidated report stating the needs of their departments. Harold, the manager of the packaging department, overstates the needs of his department. In this scenario, Harold is guilty of _____.
A. outwrestling B. budgetary slack C. extortion D. budget maximization
Which of the following is true of skip questions?
A. Skip questions are not a problem with online surveys since the computer controls the sequence of answering questions. B. If a respondent on a survey fails to follow instructions for skip questions, the interviewer may inject a tone of negativity into the interviewing process. C. If an interviewer (or respondent on a self-administered survey) fails to follow instructions for skip questions, he or she cannot recontact respondents and verify their responses to skip questions. D. If an interviewer (or respondent on a self-administered survey) fails to follow instructions for skip questions, the respondent can skip those questions. E. In order to speed through the data collection process, an interviewer may ask the respondent a few skip questions.