Answer:
1) Bad debt expense (Debit) 1,800
Accounts receivable (Credit) 1,800
2) $12,200
Explanation:
1) Write off method of accounting directly credits accounts receivable instead of creating a provision for doubtful debt. Therefore following entry is recognized
Bad debt expense (Debit) 1,800
Accounts receivable (Credit) 1,800
2) Ledger balance of accounts receivable is $ 12,200 calculated as follows:
Opening Balance (31 January 2014) 15,000
Add: Sales on account during February 18,000
Less: Collection during February (19,000)
Less: Written off (1,800)
Balance at 28 February 2014 $12,200
Answer:
11.12
Explanation:
See attached files
Answer:
Explanation:
Suppose that LilyMac Photography has annual sales of $233,000, cost of goods sold of $168,000, average inventories of $4,800, average accounts receivable of $25,600, and an average accounts payable balance of $7,300.
Assuming that all of LilyMac’s sales are on credit, what will be the firm’s cash cycle? (Use 365 days a year. Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Answer:
Unfavorable (increases taxable income).
Explanation:
$200,000-$50,000=$150,000Unfavorable (increases taxable income)
Book income would be $150,000 less than taxable income because the company increased its reserve for warranties by $200,000 and then went ahead to deduct $50,000 on its tax return related to warranty payments made during the year which is why the impact on taxable income compared to pretax book income of the book-tax difference that results from these two events will be $150,000 Unfavorable (increases taxable income).
Answer:
A staff managerial accountant is part of the mid-level accounting management.
The top position in the chain of command is the Chief Financial Officer, who is in charge of all financial matters within the firm, especially of presenting accurate financial information at the end of the accounting year to management, stockholders, and potential investors.
Directly below him is the controller, an important position in charge of reporting financial statements during the year, and helping gather information for auditors during external audtis.
Below a staff managerial accountant would be lower level accounting who are in charge of bookeeping on a daily basis.
Answer: closed shop
Explanation:
From the question, we are informed that in the late 1930s management at Atalanta Industries agreed to hire only those workers who were already members of the Electrical Union.
It should be noted that here, Atlanta agreed to a type of arrangement known as closed shop. This occurs when the workers have to belong to a particular union before they'll be employed. This was legal in 1930 but it was later declared illegal by Taft Hartley Act.
Answer:
D. It will increase by 667 units.
Explanation:
The calculation of break-even point is shown below:-
Contribution Per Unit (before increase in Variable Cost) = Unit sale price - Unit Variable Cost
= $55 - $30
= $25
Break-Even (Units) = Fixed Cost ÷ Division Contribution per unit
= $25,000 ÷ $25
= 1,000
New Variable Cost per unit = $30 + $10 (Increase in Direct material cost) = $40
Selling Price = $55
New Contribution per unit = $55 - $40 = $15
New Break-Even (Units) = Fixed Cost ÷ New Contribution per unit
= $25,000 ÷ $15
= 1,667
Increase in Break-Even Units(after increase in D.M cost) = New Break even point - Old Break even point
= 1,667 - 1,000 units
= 667 units
Therefore, The Break even points units will increase by 667 units, if the D.M cost increases by $10 per unit.
Answer:
(A) Mastering nonverbal signals will allow you to "read someone like a book."
Explanation:
Nonverbal communication refers to all the ways peop`le can communicate without using language like:
It is more probably that people inccur into nonverbal language without know they do so. In most of the time is unconsciosly
Anyway, mastering will not allow you to fully understand people entirely, people are different and they can expresse something but think different. And this is also applicable to nonverbal communication.
Answer:
The false statement is Mastering nonverbal signals will allow you to "read someone like a book."
Explanation:
Nonverbal signals tell us a lot about a person and his behavior and personality, but we cannot say that triumphing can let us flip through someone like a book.
Most of the time, nonverbal signals are inadequate without verbal communication, and nonverbal signals don't tell us with assurance regarding anything.
Learn more about nonverbal communications refer: