The Allowance for Bad Debts account had a balance of $8,500 at the beginning of the year and $7,200 at the end of the year. Duri

Answer:

Two organizational structures available to the company:

Functional structure: This is the most typical type of organizational structure and may already be in use by company XYY. In this model, employees are arranged into departments based on specific roles or functions.

The essential divisions may comprise a production department, a marketing department, a finance or accounting department, and a sales department.

Flatarchy: This term combines "flat" and "hierarchy" to define a structure that lacks a rigid hierarchy. Instead, it fosters collaboration among employees working together towards shared objectives for a more integrated approach.

Answer:

Accounts receivable as of July 31 = $261,800

Explanation:

The information for June is not needed since it's stated that 60% is collected in the sale month and 40% is collected in the following month. Therefore, by July 31, all sales from June will have been collected and are not outstanding.

July credit sales = 85% * $770,000 = $654,500

Amount collected in July (60%) = 60% * $654,500 = $392,700

Receivables as of July 31 = $654,500 - $392,700 = $261,800

Answer:

option A is the correct choice

Paid-In Capital in Excess of Par will receive a credit of $150,000

Explanation:

Details provided:

shares = 5000

share price = $5 / common stock

cash received = $175000

Now, we need to determine which option is correct

solution

We know we have a cash value of $175,000;

the total common stock is calculated as follows = shares × share price

Total common stock = 5000 × 5

Total common stock value = $25000

Thus, paid capital in excess = cash - total common stock value

Paid capital in excess = 175000 - 25000

Paid capital in excess is $150000

Thus, option A is correct

Paid-In Capital in Excess of Par will be credited for $150,000