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2 years ago

Team planning is most effective when the group leader develops the overall plan and then solicits feedback from the group.

1 answer:

5 0

It is false that team planning is most effective when the group leader develops the overall plan and then solicits feedback from the group. It must be the other way around. The role of the group leader is to stimulate ideas, facilitate discussions and summarize it all, to develop an overall plan that would make sense to the members.

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Looking to increase the profits of his lemonade stand, Johann doubled the price of a cup of lemonade from 25 cents to 50 cents.

hjlf

Answer:

1. Johann is looking to double the profits of his lemonade stand

Explanation:

Note that Johann was still making money from lemonade stand but was not content with the profits he was making that was his argument or reason for increasing the price of a cup of lemonade from 25 cents to 50 cents.

Without having forsight Johann's decision eventually resulted in him selling fewer cups at the new price and therefore making less money than before.

7 0

2 years ago

Be5-4, Prepare the journal entries to record the following transactions on Novy Company’s books using a perpetual inventory syst

Leto [7]

Answer:

a: March 2

Dr Accounts Receivable 900,000

Cr Sales Revenue 900,000

March 2

Dr Cost of Good Sold 590,000

Cr Inventory 590,000

b. March 6

Dr Sales Returns and Allowances 90,000

Cr Accounts Receivable 90,000

March 6

Dr Inventory 62,000

Cr Cost of Goods Sold 62,000

c. March 12

Dr Cash 793,800

Dr Sales Discount 16,200

Cr Accounts Receivable 810,000

Explanation:

Preparation of Journal entries using a perpetual inventory system

a. March 2

Dr Accounts Receivable 900,000

Cr Sales Revenue 900,000

(To record sale of merchandise)

March 2

Dr Cost of Good Sold 590,000

Cr Inventory 590,000

b. March 6

Dr Sales Returns and Allowances 90,000

Cr Accounts Receivable 90,000

(To record sale of merchandise)

March 6

Dr Inventory 62,000

Cr Cost of Goods Sold 62,000

c. March 12

Dr Cash 793,800

(98%*810,000)

Dr Sales Discount 16,200

(2%*810,000)

Cr Accounts Receivable 810,000

(900,000-90,000)

8 0

2 years ago

Jessica completed a four-year degree program in Finance and Accounting. She hasn’t yet gained any work experience in this field.

siniylev [52]

5.she can now work as a trainee with an expert

7 0

2 years ago

Read 2 more answers

Summers, Inc., has net income of $50 million in the current year. Stockholders’ equity at the beginning and the end of the curre

vovikov84 [41]

Answer:

ROE = 33.33%

Explanation:

return on equity:

$\frac{income}{average \: equity}$

where:

Average equity

$$$(beginning + ending equity) \div 2$

(140 + 160) / 2 = 150

return on equity : 50 / 150 = 1/3 = 0.3333 = 33.33%

The ROE measures the effectiveness of the managers to generate profit with their current net assets(equity)

This ROE of 33.33% rrepresent that for every dollar of equity the company generates 33 cents of income

5 0

2 years ago

Flora and Fauna Company estimates its doubtful accounts by aging its accounts receivable and applying percentages to various age

vladimir2022 [97]

Answer:

$6,000

Explanation:

When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.

To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.

Since the Allowance for Doubtful Accounts has a credit balance of $1,200 before adjustment at December 31, 2016, the additional amount to be allowed

= $7200 - $1200

= $6000

This will be posted as

Debit Bad debt expense $6000

Credit Allowance for doubtful debt $6000

4 0

2 years ago