Answer:
a restructuring action whereby a party buys all of the assets of a business, financed largely with debt, and takes the firm private.
Explanation:
A leverage means taking a loan to consummate a deal. So a leveraged buyout is when an entity takes a loan in order to buy all the assets of a firm and take it private.
Leveraged buyout is practices by parties that do not have enough funds to purchase a company, but they see a high return of Investments over time.
So they take a loan to buyout the company in the hope that returns will eventually cover the loan taken
Answer: Please see the required journals below:
December 31:
Debit Bad debt expense $6,034
Credit Allowance for doubtful accounts $6,034
February 1:
Debit Allowance for doubtful accounts $431
Credit Accounts receivables $431
June 5:
Debit Cash $431
Credit Bad debt recovery (income statement) $431
Explanation: The company estimates its bad debt expense as percentage of sales. In this case 0.7% of its annual sales of $862,000 was deemed as uncollectible, that is, 0.7% x $862,000 = $6,034. The required journals to recognize this bad debt expense is provided above. However, since there was an existing provision, which resides in the allowance account, a write-off would definitely hit that account in order to extinguish the accounts receivable portion. Upon recovery of the write-off, we cannot reinstate the receivable since it was already extinguished but we need to recognize the recovery as a gain.
Answer:
Executive Director, Non Executive Director
Explanation:
Landon is a senior manager for the firm Anderssen Inc. Because of his experience, he has been appointed to the board of EEC Inc., even though he doesn't work for this firm. He also serves on the boards of several other companies. Landon is an Executive Director for Anderssen and a Non Executive Director for EEC.
An executive director has operational responsibilities in a firm but a non executive director does not have operational responsibilities in a firm but is involved in planning and policy formation which are strategic activities.
Operational refers to the daily running of a business.
World trade organization member countries account for approximately 80-95% of world trade. Its three main functions are:
-Forum for negotiation
-Administration
-Dispute Settlement
To sum it up, World Trade Organization sets the rules, allows countries to talk, and has process for actually resolving problems.
Answer:
True
Explanation:
An auction is defined as a public sale of properties that considers bids from prospective buyers.
The highest bidder eventually makes the purchase.
The auctioneer calls for bids and when there is an unchallenged bid he pounds the gavel to indicate the item has been sold.
The auctioneer is the seller himself of am agent representing him.
At the start of the auction the seller sets a minimum price before bidding commences
