Explanation:
With the intention of preparing the three selected managers as effectively as possible to go to work at a furniture manufacturer in Ciudad Juarez, Mexico, it is ideal that a plan be developed that takes into account mainly what will be the roles performed by the managers in the company, in that case it will be necessary to review the current operations of the plant and manage the plant for the next three years.
First of all, there must be adequate training so that managers can develop their intercultural communication skills, respecting the values of employees of different nationalities, so that interaction flows in the best possible way for business success. After this primordial action, it is necessary that the managers have knowledge about the plant, about the objectives and goals of the company, so that they develop the adequate and integrated management for the organizational success, it is necessary that they participate in meetings, that have flexibility of decisions and are motivated to collaborate with innovative and creative solutions for the company to develop the processes in an expected manner.
Answer:
Assessing the allowance for uncollectible accounts for reasonableness.
Explanation:
Assessing the allowance for uncollectible accounts for reasonableness give the most assurance concerning the valuation assertion about accounts receivable as The term uncollectible accounts receivable is used to describe the portion of credit sales in accounts receivable the company does not expect to collect from a customer.
Uncollectible accounts is used in the valuation of accounts receivable, which appears on a company's balance sheet.
Explanation:
The journal entry to record the uncollectible is shown below:
On December 31
Bad debt expense $800
To Allowance for doubtful debts $800
(Being the bad debt expense is recorded)
The computation is shown below:
= Sales × estimated percentage - credit balance of doubtful accounts
= $280,000 × 0.5% - $600
= $1,400 - $600
= $800
Given:
Total cash = $160,000
Notes payable = $86,000
Common stock = $52,800
Find:
Retained earnings as on December 31, 2018
Computation for retained earning:
According to Accounting Equation:
Assets = Liabilities + Stock holder equity
Total Cash = Notes payable + Common stock + Retained earning
$160,000 = $86,000 + $52,800 + Retained earning
$160,000 = $138,800 + Retained earning
Retained earning = $160,000 - $138,800
Retained earning = $21,200
