I think it’s a, sorry if I’m wrong though
Answer:
Based on the attached,there is a strong indication that the question requires the student to prepare the current assets section of the balance sheet in the order of liquidity.
Current Assets $ $
Cash 32000
Accounts receivable 299300
Allowance for receivables (8680)
290620
Prepaid insurance 9680
Inventory 299300
Total current assets 631600
Explanation:
The order of liquidity is that cash comes first,as it is readily available for use in discharging obligations and need not be converted to any other form.
Accounts receivable takes the second position as it is just a step away to becoming cash
Lastly, inventory is the most difficult to convert to cash as it envisaged that it would first of all turn to accounts receivable and thereafter to cash
One of the reasons marketing is essential to the free market system is that It ensures that companies make a healthy profit.
<h3>What is free market?</h3>
A free market is a market structure where there is no interference from government but forces of demand and supply controls it.
With regards to the above, marketing ensures that products gets to the target audience to attract sales, thereby increase profits.
Learn more about free market here : brainly.com/question/13519121
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Answer:
Reference : Cost Accounting Planning & Control ( Matz Usry )
Explanation:
Job order Costing procedure keeps the costs of various jobs or contracts separate during their manufacture or construction. this method is applicable in work in factories, workshops, construction engineers , printers etc.
Direct Materials, Direct Labor ( Job Order Costing). Direct Materials are assigned by means of job order numbers. The cost of each order produced for a given customer or the cost each lot to be placed in stock is recorded on a summary sheet called Job Order Cost Sheet.
Process Costing procedures are often termed continuous or mass production cost procedures. Process costing involves average costing for a particular period in order to obtain departmental and cumulative unit costs.the cost of a completed unit is determined by dividing the total cost of a period by the total units produced during the period.
Direct Materials need not be priced individually rather the cost is determined at the end of the production period through inventory difference procedure i.e adding purchases to beginning inventory and then deducting ending inventory.
Labor Costs are identified by and charged to departments in process costing, eliminating the detailed clerical work of accumulating labor costs by jobs.
