Blocks and census tracts are important units in the Census of Population to small retailers since _____
a. this data is free
b. this data is timely
c. retailers can combine blocks and tracts to resemble their trading area
d. online computer tapes are available
c
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The following selected amounts are reported on the year-end unadjusted trial balance report for a company that uses the percent of sales method to determine its bad debts expense. Accounts receivable$428,000?DebitAllowance for Doubtful Accounts 1420?DebitNet Sales 2,270,000?CreditAll sales are made on credit. Based on past experience, the company estimates 3.0% of credit sales to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense?
A. Debit Bad Debts Expense $12,840; credit Allowance for Doubtful Accounts $12,840. B. Debit Bad Debts Expense $66,680; credit Allowance for Doubtful Accounts $66,680. C. Debit Bad Debts Expense $68,100; credit Allowance for Doubtful Accounts $68,100. D. Debit Bad Debts Expense $14,260; credit Allowance for Doubtful Accounts $14,260. E. Debit Bad Debts Expense $69,520; credit Allowance for Doubtful Accounts $69,520.
Discuss the common definitions of information.
What will be an ideal response?
Morris Company established a petty cash fund with a $600 balance. Which of the following statements is incorrect?
A) A journal entry is needed to debit the Cash account and credit the Petty Cash account for $600. B) There is no net effect on current assets. C) The sum of the cash plus the total of the petty cash tickets should equal $600 at all times. D) The petty cash custodian cashes a check for $600 and places the currency in the petty cash fund box.
Allmax is concerned that its subsidiary in Venezuela could be expropriated (seized) by the host government without compensation within the next few years. The type of risk Allmax faces with its Venezuelan subsidiary is termed ______ risk.
A. pure play B. political C. international beta coefficient D. foreign exchange E. global business