Based on the description above, the correct answer that will
describe what a process cost system is, is the first choice in which a work in
process account is maintained for each process. As process cost system is being
used in a way of collecting and assigning the cost in manufacturing in which
produces the units and that it is used when mass are being produced.
Each check should be identified by its ABA number.
ABA stands for American Bankers Association. ABA number is located at the upper-right hand corner of each check. It is the small fraction printed in said location.
Part of the ABA number is also included in the MICR code on the lower left side of the front of each check.
Answer: $1,356,000
Explanation:
Given the following;
accounts receivable =$1480000
Allowance for uncollectible accounts = $78800
Ending allowance for doubtful account = $124000
Net realizable value for receivables is the difference between receivables and ending allowance for doubtful accounts
NRV for receivables = receivables - Ending allowance for doubtful account
= $1,480,000 - $124,000 = $1,356,000
Net realizable value for receivables after adjustment is $1,356,000
Answer:
Expenditures of a governmental unit for insurance extending over more than one accounting period May be allocated between or among accounting periods or may be accounted for as expenditures of the period of acquisition.
Explanation:
It is never wrong to document expenditures in real time with definite data such as date, details of expenditure and the costs entered correctly.
Therefore, if the expenditures of a governmental unit for insurance extends over more than one accounting period, it may be accounted for as expenditures of thee period of acquisition.
Since the expenditure spills over to another accounting period, it may also be located between or among the accounting periods it falls on.
