Answer:
It implies that the firm paid $5,000 to its supplier this accounting period (e.g. year) out of the amount the firm is owing the supplier.
Note: The correct answer is as stated above it is not included in the option. Kindly confirm the options again from your teacher.
Explanation:
Accounts payable refers to the amount of money a firm is owing its suppliers.
Account payable is one of the component of the current liabilities in the balance sheet, and non-cash current liability item that is adjusted for in the cash flow statement to arrive at net cash from operating activities when an indirect method is being used.
Since accounts payable is the amount of money a firm is owing its suppliers, a negative a NEGATIVE adjustment to its implies that company has paid its supplier the negative amount in the accounting period.
Therefore, a NEGATIVE adjustment of $5000 related to Accounts Payable implies that the firm paid $5,000 to its supplier this accounting period (e.g. year) out of the amount the firm is owing the supplier.
A. True
The CPI is a measure of the cost of a "basket" of typical consumer goods, so if the cost of these goods goes down most families will spend less on average.
Cave Hardware's forecasted sales for April, May, June, and July are $150,000, $250,000, $100,000, and $290,000, respectively. Sa
dmitriy555 [2]
Answer:
$160,000
Explanation:
The computation of budgeted cash payments in June is shown below:-
For computing the budgeted cash payments in June first we need to find out the may credit sales and June cash sales.
May credit Sales = May = $250,000 × 40% × 100%
= $100,000
and
June cash sales = $100,000 × 60%
= $60,000
Cash collection budgeted June = May credit Sales + June cash sales
= $100,000 + $60,000
= $160,000
Answer:
b. $3,000
Explanation:
Jed was refused payment of $5000, the court awarded only $2000, rest $3000 is a loss for Jed. He can only deduct $3000 and not full $5000 as $2000 has been realized.
Therefore, The amount of loss may Jed deduct in the current year is $3,000.
