The total number of units to be accounted for in the second department of a process is:
a. the number of units in process at the beginning of the period plus the units received from another department during the period.
b. the number of units in process at the beginning of the period plus the units transferred out to another department during the period.
c. the number of units in process at the end of the period plus the units completed and on hand.
d. the number of units in process at the end of the period plus the units received from another department during the period.
a
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A company uses the aging of accounts receivable method to estimate its bad debts expense. On December 31 of the current year an aging analysis of accounts receivable revealed the following: Account AgeBalanceEstimated Uncollectible PercentageCurrent (not yet due)$620,0000.5%1-30 days past due270,0002.0%30-60 days past due145,0008.0%61-90 days past due55,00020.0%90-120 days past due32,00050.0%Over 120 days past due18,00070.0%Total$1,140,000?Required:a. Calculate the amount of the Allowance for Doubtful Accounts that should be reported on the current year-end balance sheet.b. Calculate the amount of the Bad Debts Expense that should be reported on the current year's income statement, assuming that the credit balance of the Allowance for Doubtful Accounts on January 1 of the current year
was $41,000 and that accounts receivable written off during the current year totaled $43,200.c. Prepare the adjusting entry to record bad debts expense on December 31 of the current year.d. Show how Accounts Receivable will appear on the current year-end balance sheet as of December 31. What will be an ideal response?
Archetype is a Unilever SBU that markets a number of different tea brands around the world. Each brand addresses the taste and emotions of local tea cultures. Which of the following would be part of Archetype's internal environment?
A) changes in the way people drink tea B) increased competition from a local tea producer C) government regulations of information on package labels D) marketing Archetype does to reach consumers and satisfy their cultural needs E) a shortage of tea leaves due to unusual weather conditions
Define the term insurtech and give an example of an insurtech company.
What will be an ideal response?
A just-in-time (JIT) system minimizes inventory cost for the company but increases inconvenience in the form of noise, traffic, and air pollution for the community at large
Indicate whether the statement is true or false