Using the Indirect Method to create the Statement of Cash Flows, which of the following options are correct in describing what m

Response:

True

Explanation:

Microsoft matrix and its competitors. There exist two methods to utilize the technology. Microsoft and its competitor may act concurrently. The equilibrium strategy can be derived through the payoff matrix. Both companies adopt a pure strategy. The pure strategy criteria include max-min and min-max. The max-min strategy signifies selecting the worst-case scenario from among the best outcomes, while min-max is about choosing the optimum outcome from all the worst ones.

Answer:

centralized

Explanation:

Based on my findings regarding various organizational frameworks, it is evident that FirstElectronics probably embraces a highly centralized organizational structure. This structure operates on a hierarchy where decisions and processes are managed exclusively at the uppermost level or by executive personnel.

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Answer:

A, E

Explanation:

The accounting equation indicates that the sum of a company's assets is equivalent to its equity plus liabilities, where assets refer to resources owned by the business. Equity comprises the resources owed to the owners, whereas liabilities represent the amounts owed to creditors (external parties). These components contribute to a company's balance sheet. For the balance sheet to maintain equilibrium:

Assets must equal the total of liabilities and equity. Therefore, option A is accurate, along with option E. Option B is incorrect since certain transactions recorded may affect both balance sheet elements and those from the P/L. For example, training expenses incurred by the company paid in cash involve both an asset and an expense. Option C, on the other hand, states that Revenue minus Expense equals profit, not assets. While the latter part of this option is correct, the earlier part is not. Finally, option D is also false for the same reasons as option C.

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

Response:

hhola

Justification:

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