g Haack Inc. is a merchandising company. Last month the company's cost of goods sold was $84,000. The company's beginning mercha

Answer:

The following journal entries are provided

Explanation:

June 12, 2021

Rendered services to clients on account for $41,000.

                                    DEBIT        CREDIT

Receivable account    $41,000

Services Revenue                        $41,000

September 17, 2021

Collected $25,000 from clients on account.

                                     DEBIT        CREDIT

Cash                           $25,000

Receivable                                    $25,000

December 31, 2021

Estimate that 45% of accounts receivable by year-end will default.

                                                  DEBIT        CREDIT

Bad debt($16,000x45%)           $7,200

Allowance for doubtful debt                       $7,200

March 4, 2022

Rendered services to clients on account for $56,000

                                    DEBIT        CREDIT

Receivable account    $56,000

Services Revenue                          $56,000

May 20, 2022

Received $10,000 from clients for services rendered in 2021.

                                     DEBIT        CREDIT

Cash                          $10,000

Receivable                                     $10,000

July 2, 2022

Wrote off the outstanding amounts from services provided in 2021.

Calculation: $41,000 - $25,000 - $10,000 = $6,000

                                                               DEBIT        CREDIT

Allowance for doubtful debt               $6,000

Account Receivable                                                 $6,000

October 19, 2022

Received $45,000 from clients for services provided in 2022.

                                   DEBIT        CREDIT

Cash                         $45,000

Receivable                                    $45,000

December 31, 2022

Estimate that 45% of accounts receivable at year-end will not be collected.

                                          DEBIT        CREDIT

Bad debt (w)                     $3,750

Allowance for bad debt                     $3,750

Calculation:

($56,000 - $45,000) x45% = $4,950

Balance in Allowance account at December 31, 2021  = 7,200

Bad debt disposed of                                             = 6,000

Remaining balance                                              = 1,200

Thus, the Allowance for doubtful debt at December 31, 2022 = $4,950 - $1,200

Allowance for doubtful debt at December 31, 2022 = $3,750

Answer:

The ratio of callers on hold for more than 2.8 minutes is 0.3679

Explanation:

μ = 2.8, λ = 1/2.8,

Using the exponential distribution:

P(x>k) = exp(-λk)

          = exp(-2.8/2.8)

          = 0.3679

Thus, the fraction of callers who are placed on hold for over 2.8 minutes is 0.3679

Answer:

51 % growth

Explanation:

Stock A initial price= $23.00

Stock A price after 6 months= $47.00

Stock A price increase= $47 - $23

                              = $24

Percentage change in stock price = $24  x  100%

                                                        $47

                                                     = 0.510 x 100%

                                                     = 51%

The stock price of Stock A has risen by 51%

Cheers

The correct answer is a) hygiene factors. The two-factor theory crafted by Frederick Herzberg identifies two elements impacting job satisfaction—motivators, which provide satisfaction, and hygiene factors that can lead to dissatisfaction. In context, hygiene factors include aspects like working conditions and salary. Businesses should focus on enhancing these hygiene factors to minimize job dissatisfaction.

1. Calculation of Net Operating Cash Flow Particulars Year 1 $ Year 2 $ Net Operating Cash flow Cash collected from clients $167,000 $197,000 Less: Cash Disbursement Salaries $97,000 $107,000 Utilities $33,500 $47,000 Purchase of insurance policies $62,100 $0 Net Operating Cash Flow -$25,600 $43,000 Thus, the net operating cash flow for the first year is -$25,600 and for the second year is $43,000. 2. Income Statement for each year Particulars Year 1 $ Year 2 $ Revenue $184,000 $234,000 Expenses: Salaries $97,000 $107,000 Utilities $38,500 $42,000 Insurance Policy($62,100/3) $20,700 $20,700 Net Income $27,800 $64,300 Working: Utilities for year 2 = $33,500 + $47,000 - $38,500 = $42,000 3. Calculation of account receivables Particulars Year 1 $ Year 2 $ Account receivables beginning balance $0 $17,000 Add: Account billed to client $184,000 $234,000 Less: Cash collections from clients $167,000 $197,000 Ending account receivables $17,000 $54,000 Therefore, the amount of account receivables for year 1 is $17,000 and for year 2 is $54,000.