When a company establishes an outstanding reputation and has a competitive advantage because of it, the company should record goodwill on its financial statements
Indicate whether the statement is true or false
False
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As a business adds more products to its product line, it decreases the risk of cannibalizing existing product sales
Indicate whether the statement is true or false
Last semester grades of Michael, a freshman at a local college are shown below. ? Course Credit Hours Grades Chemistry 5 B Calculus 4 A English 3 C Music 3 B P.E. 1 A ? The local university uses a 4 point grading system, i.e., A = 4, B = 3, C = 2, D = 1, F = 0. Compute Michael’s semester grade point average.
What will be an ideal response?
At the ________ leadership level, the team leader handles most (if not all) of the leadership duties, including assigning tasks, making and explaining decisions, training team members, and managing members one-on-one.
A. participative B. supervisory C. democratic D. laissez-faire E. team
On January 1, Year 2, Burton Company had a balance in Accounts Receivable of $90,000 and a balance in the Allowance for Doubtful Accounts account of $2,400. Burton had credit sales of $244,000 during Year 2 and ended the year with a balance in Accounts Receivable of $48,000. Burton also wrote off $1,100 of receivables during Year 2. Burton uses the allowance method and assumes that 2% of the sales on account will not be collected.Required:a) After adjusting entries on at the end of Year 2, what will be the balance in the Allowance for Doubtful Accounts?b) What was the decrease in the net realizable value of accounts receivable in Year 2 as a result of the write-off of the receivable?c) What amount of cash was collected from customers during Year 2?
What will be an ideal response?