a) Describe the procedures (steps), that can be followed during the process of recovering the amounts in the book debts from the time they are handed over to the administrator to the time the final amount is handed over to the official receiver

Answers

Answer 1

Official letter to be sent. This is not just a straightforward task, but it may also be mandated by law in amount some areas. Speak to a collection company. A debt collection service communicates with debtors by calling them, emailing them, and, if required, filing legal action. Make a legal claim.

If the client still refuses to pay, think about engaging a debt collector. Consider filing a lawsuit. To locate unpaid items, conduct a property search on the debt Personal Property Security Register (PPSR). To assist in obtaining payment, your creditor works with a collection agency amount. To repay the loan, you would only be coordinating with the collection agency.

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Related Questions

what is the purpose of completing a job application form or sending a resume and a cover letter?

Answers

Answer: a cover letter serves as your first impression to an employer and helps you to stand out from other applicants. A resume highlights qualifications for employment including education, experience, skills, and other relevant information.

The amount of water consumed each day by a healthy adult follows a normal distribution with a mean of 1.56 liters. A health campaign promotes the consumption of at least 2.0 liters per day. A sample of 10 adults after the campaign shows the following consumption in liters:

1.88 1.74 1.98 1.70 1.86 1.72 1.74 1.98 1.68 1.50

At the 0.025 significance level, can we conclude that water consumption has increased? Calculate and interpret the p-value.

Click here for the Excel Data File

a. State the null hypothesis and the alternate hypothesis. (Round your answers to 2 decimal places.)

b. State the decision rule for 0.025 significance level. (Round your answer to 3 decimal places.)

c. Compute the value of the test statistic. (Round your intermediate and final answer to 3 decimal places.)

d. At the 0.025 level, can we conclude that water consumption has increased?

e. Estimate the p-value.

Answers

Yes we can conclude that the water consumption has increased at 0.025 level of significance.

How to solve for the mean

The mean is given as

(1.88 + 1.74 + 1.98 + 1.70 + 1.86 + 1.72 + 1.74 + 1.98 + 1.68 + 1.5)/10 = 1.778

= 17.78 / 10

standard deviation calculator

= (1.88 - 1.778)² + ... + (1.50 - 1.778)² / 10

= 0.19796 / 10

= 0.019796

σ = √0.019796

standard deviation = 0.14069825869569

b. At alpha = 0.025, the critical value is t* = 2.262

Reject H0 if t > 2.262

c. Test statistic

= x - u / s √n

= 1.778 - 1.56 / 0.14069 / 3.1622

= 0.218 / 0.0444911

= 4.8998

d. Given that the test statistic is seen to be greater than the critical value, we would have to reject the null.

At 0.025, the assumption would be that the consumption of water has increased.

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what type of contract exists when at least one party has the option of canceling it?

Answers

Voidable contract exists when at least one party has the option of canceling it.

A contract is an agreement among events, developing mutual responsibilities that are enforceable by way of regulation. The primary factors required for the settlement to be a legally enforceable contract are: mutual assent, expressed by way of a legitimate provide and recognition; good enough attention; ability; and legality.

A agreement may be described as an agreement verified by way of law under segment 2(h) of the Indian settlement Act, I872. in step with section 2(e) of the Act, an settlement is “every promise and each set of guarantees forming consideration for each different.”

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From the following list, identify those that are likely to serve as source documents. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)
Sales ticket
Trial balance
Balance sheet
Telephone bill
Invoice from supplier
Company revenue account
Income statement
Bank statement
Prepaid insurance

Answers

From the following list, these are likely to serve as source documents.

Sales ticketsTelephone billinvoice from supplierBank statement

A document is a written, drawn, presented, or memorialized illustration of thought, regularly the manifestation of non-fictional, in addition to fictional, content material. The word originates from the Latin Documentum, which denotes a "coaching" or "lesson": the verb doceō denotes "to teach".

In each subject, it is critical to decrease as a good deal hazard as feasible. Documentation is a amazing tool in protective in opposition to proceedings and complaints. Documentation assist ensure consent and expectancies. It allows to tell the narrative for selections made, and how your self or the patron replied to exceptional conditions.

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The ledger of Duggan Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared.
Debit Credit
Prepaid Insurance $ 3,600
Supplies 2,800
Equipment 25,000
Accumulated Depreciation—Equipment $ 8,400
Notes Payable 20,000
Unearned Rent Revenue 9,300
Rent Revenue 60,000
Interest Expense –0–
Salaries and Wages Expense 14,000
An analysis of the accounts shows the following.
1. The equipment depreciates $250 per month.
2. One-third of the unearned rent was recognized as revenue during the Quarter.
3. Interest of $500 is accrued on the notes payable.
4. Supplies on hand total $850.
5. Insurance expires at the rate of $300 per month.
Instructions
Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expense.

Answers

The adjusting entries at March 31, assuming that adjusting entries are made quarter is: Debit Depreciation expense $750; Credit Accumulated depreciation - Equipment $750.

Journal entry

March 31

Debit Depreciation expense $750

Credit Accumulated depreciation - Equipment $750

( $250 × 3 months)

(To record quarterly depreciation on equipment)

March 31

Debit Unearned rent revenue account $3,100

Credit Rent Revenue Account $3,100

( 1/3 × $9,300)

(To record rent revenue earned)

March 31

Debit Interest expense Account $500

Credit Interest payable account $500

(To record accrued interest expenses)

March 31

Debit Supplies expense account $1,950

Credit Supplies account $1,950

($2800 - $850)

(To record supplies consumed)

March 31

Debit Insurance expense account $900

Credit Prepaid insurance account $900

( $300 × 3 months)

(To record expired insurance for the quarter)

The entry to record the transaction is to debit Depreciation expense for the amount of $750, credit accumulated depreciation - Equipment of the amount of $750.

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if the total book value of the assets of the accounting entity is $4,350,000, and the total liabilities of the accounting entity are $1,235,000, the stockholder's equity in the accounting entity is

Answers

The stockholder's equity in the accounting entity is $3115000.

What is book value?

In accounting, an asset's book value is its value[1] as expressed by the balance in its balance sheet account. Asset values are determined by subtracting any depreciation, amortization, or impairment expenses from the asset's initial cost. The total assets of a corporation, less intangible assets and liabilities, are often considered to be its book value. However, in actuality, the inclusion of goodwill, intangible assets, or both may vary depending on the methodology used to calculate book value. The value of a company's personnel, which makes up a portion of its intellectual capital, is never taken into consideration. The term "tangible book value" is frequently used to specify the statistic when goodwill and intangible assets are specifically omitted.

In the UK, the phrase "net asset value" might apply to book value of a company.

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Question 4
Use this data set to answer the question: 2, 3, 3, 4, 6, 7, 8, 8, 9, 10
What is the mode?

Answers

Answer:

mode are number that written in the set more than one time

Explanation:

in that case 3 and 8 both are the mode of the set

Answer:

There are two modes: 3 and 8.

Explanation:

The mode is the value that appears most frequently in a given data set.

when evaluating how much to produce, increase the quantity produced if the marginal benefit of an additional item is _____ the marginal cost of the additional item.

Answers

If the marginal benefit of an extra item is greater than or equal to the marginal cost of the additional item, raise the quantity produced when determining how much to produce.

The difference in total production costs caused by creating or producing one extra unit is known as the marginal cost in economics. Divide the variation in production costs by the variation in quantity to determine marginal cost. Finding the point at which an organisation can realize economies of scale to improve production and overall operations is the goal of marginal cost analysis. The producer may make money if the marginal cost of producing one extra unit is less than the price per unit.

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Out of the following economic statistics, which is the best measure of economic prosperity?
Group of answer choices

The growth rate of real GDP

The level of real GDP

The price level

The level of nominal GDP

Answers

The level of real GDP is the best economic statistics for measuring an economic prosperity.

What is a real GDP?

The term real GDP is an acronyms for the real gross domestic product. This economic tool means an inflation-adjusted measure that reflects the value of all goods and services produced by an economy in a given year (expressed in base-year prices). It is also referred to as constant-price or inflation corrected GDP.

This type of GDP makes the comparison of GDP from year to year or from different years more meaningful because it shows difference comparisons for both the quantity and value of goods and services. It is calculated by dividing nominal GDP over a GDP deflator.

In conclusion, an economists mainly use a simple economic measure known as GDP to define prosperity whether being measured in total for a country or on a per-capita basis, the GDP is the most familiar and widely used measure of national progress.

Answers

Process performance monitoring is made possible by statistical process control (SPC) charts, which are basic graphical tools.

Describe SPC Charts.It is a line graph with the measure on the vertical (y) axis and the time or observation number on the horizontal (x) axis, displaying a measure in chronological sequence.The center line represents the data's average. Additionally, sigma limits are displayed. These limits were determined using a measure of data variation (sigma). If the process is steady and consequently predictable, these limits reveal the range in which we can anticipate the majority of subsequent data points to fall.On the graph, modifications to a process and other helpful annotations are frequently noted so that their effects on the process may be correlated.

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Use the supply and demand schedules below to answer the following questions:
a. What is the market equilibrium price and quantity?
MEP:
MEQ:
b. What is the market price if there is a shortage of 30 units?
$__
c. At a price of $20, the market experiences a _____ (shortage/surplus) of _____ units

Answers

a. The market equilibrium price is $15.

The market equilibrium quantity is 70.

b. The market price if there is a shortage of 30 units is $10.

c. At a price of $20, the market experiences a surplus of $30.

What is equilibrium price?

The equilibrium price simply means the price at which the quantity that's demanded and the quantity that's supplied are equal.

It should be noted that a shortage occurs when the quantity that's demanded is less than the quantity that supplied. In this case, there's a shortage of 30 units when the price is $10. The quantity demanded is 85 units and the quantity supplied is 55 units.

Also a surplus occurs when the quantity that's supplied is more than the quantity that's demanded.

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Department S had no work in process at the beginning of the period. It added 14,400 units of direct materials during the period at a cost of $100,800. During the period, 10,800 units were completed, and 3,600 units were 32% completed as to labor and overhead at the end of the period. All materials are added at the beginning of the process. Direct labor was $51,500, and factory overhead was $8,000.

The total conversion costs for the period were

Answers

The total conversion costs for the period for Department S was $59500.

What are conversion costs?

Conversion costs are those costs that are incurred to convert raw materials into finished goods/services. They can be called production costs and they are also direct costs. In cost accounting, the concept is used to calculate the value of ending inventory, which is then reported on the balance sheet.

Conversion cost derives its name from the fact that the costs that comprise conversion cost are all of the costs incurred to convert raw material into a finished good. These expenses include direct labor and manufacturing overhead.

These costs include direct labor cost and factory overhead cost. In this question, only direct labor and factory cost are conversion costs.

Direct labor = $51,500

Overhead = $8,000

Therefore, total conversion costs will be:

= $51,500+$8,000

= $59500

Answers

The first John Wick movie made $15 million in 2017 dollars.

Consumer Price Index: The consumer price index (CPI) tracks variations in the average price of products and services that a reference population buys, uses, or pays for consumption over time.

Consumer price index is a broad index that estimates price changes in a basket of products and services that is representative of consumer spending in an economy. The CPI estimating process involves some very precise calculations.

What does the CPI for 2022 look like?

The Consumer Price Index for All Urban Consumers grew 9.1% in the year that ended in June 2022.

If the CPI increases, it indicates that the average rate of change in price over time has increased. Over time, this results in modifications to the cost of living and income (presumably so that income is adjusted to meet a higher cost of living). Indexation is the name given to this procedure.

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stana, incorporated, has preferred stock outstanding that sells for $96.52 per share. if the required return is 3.72 percent, what is the annual dividend?

Answers

The annual dividend is $3.59.

Enlist types of dividend.Cash dividend : The most typical dividend kind. These are typically paid straight into the shareholder's brokerage account by the companies in cash.Stocks dividend : Companies have the option of giving investors more stock in exchange for cash. DRIP dividend : Any dividends earned by DRIP investors may be reinvested, frequently at a discount, into the company's stock. Investors can elect to receive DRIPs in cash if they like; DRIPs are often not required.Special dividends : These payments, unlike conventional dividends, are paid out on all shares of a company's common stock. To share profits that have accumulated over a number of years and for which it has no immediate need, a firm frequently declares a special dividend.Preferred dividends : Payments made to preferred stock holders. A sort of stock known as preferred stock performs more like a bond than a typical stock. In contrast to ordinary stock dividends, which are typically repaid quarterly, preferred stock payouts are often fixed.

Dividend = $96.52 × .0372 = $3.59

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which of the following is included in an individual taxpayers federal gross income?

A. certain income from discharge of indebtedness

B. disaster relief payments

C. a federal income tax refund

D. interest on state and local municipal bonds

Answers

Answer:
C. A federal income tax refund.

Ethics Student Activity Packet

Answers

Self-driving cars can be an ethical dilemma, because despite being an innovative technology, it may not have the capacity that an individual would have to make unexpected decisions.

What is a ethical dilemma?

It corresponds to a paradox where morality is considered when there are two options available during a decision-making process, where each of the options is not able to fully satisfy the ethics on the subject.

To resolve an ethical dilemma, individuals must think critically about their options, in fact seeking to find a value-based solution, that is, decision-making must be carried out in a way that reduces negative consequences or increases benefits for the community.

Therefore, ethics apply to developing technologies, such as self-driving cars, in order to regulate the moral concepts behind the technology and how it will positively or negatively affect the lives of individuals.

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A United Nations report shows the mean family income for Mexican migrants to the United States is $27,300 per year. A FLOC (Farm Labor Organizing Committee) evaluation of 20 Mexican family units reveals a mean to be $28,500 with a sample standard deviation of $9,651. Does this information disagree with the United Nations report? Apply the 0.01 significance level.

a. State the null hypothesis and the alternate hypothesis.

b. State the decision rule for 0.01 significance level. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.)

c. Compute the value of the test statistic. (Round your answer to 2 decimal places.)

d. Does this information disagree with the United Nations report?

Answers

stated mean is 27,300 per year.

sample of 20 family units reveals a mean of 28,500 with a sample standard deviation of 9,651.

sample standard error = standard deviation of sample divided by square root of sample size.

sample standard error = 9,651 / sqrt(20) = 2158.029205.

since standard deviation is from sample rather than from population, use t-score rather than z-score.

degrees of freedom is equal to sample size minus 1 = 20 - 1 = 19.

t-score = (sample mean minus assumed population mean) / standard error.

t-score = (28,500 - 27,300) / 2158.029205 = .5560629102

alpha for .01 significance level for two sided distribution is the same as .005 significance level for one sided distribution.

if using t-score tables, you would look for critical t-score of .01 for two sided distribution or critical t-score of .005 for one sided distribution.

either one is for 19 degrees of freedom.

using the ti-84 plus scientific calculator, i looked for critical t-score of.005, since the calculator assumed one sided distribution table.

critical t-score is between -2.86 and 2.86 according to TI-84 Plus.

critical t-score table confirms this value is true at .01 alpha for two tailed distribution and at .005 alpha for 1 tailed distribution.

i'm reasonably certain this is accurate.

since the t-score is .5560629102, it is well within the confidence interval limits.

you would therefore reject the alternate hypothesis becauwse the results of the tewt are not significant.

they are significant if outside the limits and not significant if inside the limits.

your alternate hypothesis is that the scores are not equal to the assumed mean.

your null hypothesis is that they are equal to the assumed mean.

since the t-score is well within the confidence limits, this mean that the sample mean is most likely different from the assumed population mean due to random variation in sample means of size 20.

in order for you to reject the null hypothesis, the t-score would have had to be either less than -2.86 or greater than 2.86.

then you could have considered that the sample means difference from the assumed population mean would not have been likely to chance variations at the .01 significance level.

you can assume that the data does not contradict the report.

that means you aqcept H0.

b) The customer asks, "How many brands of baseball gloves do you sell? Are there any the cost
less than $50?" You don't know the answer and need to check the supply room for inventory. It
takes you close to 10 minutes to find the answer. When you have the answer, the customer asks if you can put one on hold for her. Play out the entire conversation, including ending the call. (3
points)

Answers

When the customer asks for the price range of the product baseball gloves, which can be less than $50. So, the seller needs to check the supply room for inventory.

Inventory refers to all the goods, items, merchandise, and also the materials which are held by a business for selling in the market in order to earn a profit. So, inventory management can help the companies to identify which and how much stock to order and to order when.

While making a sale, if a customer asks for different price ranges and so if the seller does not remember such information, then the seller needs to check the supply room for inventory and then inform the customer about it.

Hence, inventory is an asset which is intended to be sold.

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Having more capital goods requires

spending more of our money on consumer goods

giving up some present day consumption

giving up some present day investment spending

increased government regulation about what should be produced

Answers

Answer:

spending more money on consumer

Suppose three companies, Optimax, Protade, and Electrodrink, dominate the sports drink market. Optimax enjoys the largest market share. Protade, dissatisfied with its market share, begins offering its sports drink in a new container that, according to Protade, keeps the drink colder for a longer period of time.
This is an example of:

Answers

Answer:

Suppose three companies, Optimax, Megachug, and Thirstoid, dominate the sports drink market. Optimax enjoys the largest market share. Megachug dissatisfied with its market share, begins offering its sports drink in a new container that, according to Megachug, keeps the beverage colder for a longer period of time. This is an example of: Non-price competition Price leadership A price war

Explanation:

I hope this may help you

Terrence and Benita were married for 53 years. Terrence died on June 10, 2021. Benita has no dependents and she did not remarry. The correct and most favorable filing status for Benita's 2021 return is?

A. single

B. married filing jointly

C. married filing separately

D. qualifying widow

Answers

For Benita's 2021 return, the most favorable filing status is married filing jointly.

When only one spouse makes a living or has the largest income, filing jointly with your spouse is frequently the best option.

If both couples earn incomes that are substantial and unequally distributed, however, you may be better off filing separately.

Married Filing Jointly: What Is It?

Married couples can file their taxes together by choosing the filing status known as married filing jointly. A married couple can report their individual incomes, deductions, credits, and exemptions on the same tax return while filing their taxes as a married couple.

Filing Separately vs. Jointly by Married People

Your combined total tax obligation is frequently lower when you file as married filing jointly than it would be if you and your spouse had each filed separately. Couples are enticed to file jointly by the Internal Revenue Service (IRS) by a number of tax benefits that don't apply to other filing statuses.

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You overhear your dad complaining about how the stock market went down 30 points over the past week. Would you consider this a bull or bear market? Explain why.

Answers

Answer:

A bull market

Explanation:

A bull market is loosely defined as a persistently sloping upward line. During a bull market, market confidence is high and investors are eager to buy stocks with the hopes that their stocks will grow in value. But during a bear market, it’s quite the opposite. Investors want to sell their stocks because of fear and anxiety that the market will crash.

You overhear your dad complaining about how the stock market went down, this will consider a bull market.

What is stock?

A stock is referred to as a kind of ownership of certain items. When an individual holds stocks or shares in the market they are entitled as stockholder or shareholder and liable for some dividend.

When the prices of securities are increasing or are expected to rise it is indicated as a bull market occurs. The word "bull market" refers to a situation in which the overall market is performing well and investors are bullish about the future.

Bull markets can endure for months or even years, depending on factors such as economic conditions, company success, and investor sentiment.

All markets have ups and downs throughout time, and there's always a danger of losing money when you invest in the stock market, It's crucial to remember that.

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in the short run, which of the following firms should attempt to produce where average costs are at a minimum in order to maximize profits or minimize losses?

a. perfectly competitive firm
b. a monopolistically competitive firm
c. an oligopoly
d. a monopoly
e. none of the above

Answers

Answer: A perfectly competitive firm

Explanation:

effective guiding policy is supported by and stays consistent through the use of ______.

Answers

The effective guiding policy is supported by and stays consistent through the use of strategic commitments.

Strategic commitments that senior management and key personnel for the duration of the employer purchase in to drive the corporation forward to attain its targets. therefore, they have dedicated themselves to the success of the corporation. furthermore, they execute the strategies of the agency as efficaciously as feasible.

Whilst employees are dedicated to a method and its implementation they may be extra stimulated to put into effect it. Organizational individuals who strongly consider the strategy and its dreams are more likely to be willing to make greater efforts on its behalf. This in flip results in higher method execution performance.

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Difference between financial and managerial accounting?

Answers

The main difference between financial and managerial accounting is that financial accounting is done for external stakeholders and managerial accounting is done for internal stakeholders.

How are financial and managerial accounting different?

Financial accounting is often made for the use of the external stakeholders of a company including the public, the government, and analysts and investors. As a result, it has to follow the recommended accounting principles.

Managerial accounting on the other hand, is done for the benefit of internal stakeholders like management. It is used to make decisions on operations. It therefore does not need to follow generally recommended accounting principles which makes it different from financial accounting.

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One of the disadvantages of global joint ventures is that, unlike licensing and franchising, they do not help companies to avoid tariff and nontariff barriers to entry.

a. True
b. False

Answers

"One of the disadvantages of global joint ventures is that, unlike licensing and franchising, they do not help companies to avoid tariff and nontariff barriers to entry." This statement is False.

Franchising is grounded on a marketing conception that can be espoused by an association as a strategy for business expansion.

Franchising is a type of agreement that entails reproducing a successful business model across multiple locales. As the business proprietor and franchisor, you would produce a ballot agreement to begin the process and move toward opening a new franchise

.Franchising is a business relationship between two realities wherein one party allows another to vend its products and intellectual property. For illustration, several fast food chains like Domino's and Mcdonald's operate in India through franchising.

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monthly sale of beer at a bar is believed to be approximately normally distributed with mean 2450 units and standard 400 units.to determine the level of orders and stock ,the management wants to find two value symmetrically on either side of mean,such that the probability that sales of beer during the month will be between the two values is 0.95 and 0.99 find the required value

Answers

Using the normal distribution, the values are given as follows:

Probability 0.95: between 1666 and 3234 units.Probability 0.99: between 1420 and 3480 units.

Normal Probability Distribution

The z-score of a measure X of a variable that has mean [tex]\mu[/tex] and standard deviation [tex]\sigma[/tex] is given by the rule presented as follows: