Explanation:
The journal entries are shown below:
a. Bad debt expense A/c Dr $13,931
To Allowance for doubtful debts $13,931
(Being bad debt expense is recorded)
It is computed below:
= $421,300 × 4% - $2,921
= $13,931
b. a. Bad debt expense A/c Dr $17,722
To Allowance for doubtful debts $17,722
(Being bad debt expense is recorded)
It is computed below:
= $421,300 × 4% + $870
= $17,722
Answer:
See below.
Explanation:
Since the preferred stock is not cumulative only the current years' dividend is payable on these stocks.
Preferred stock dividend = (5000 * 100) * 0.08 = $40,000
Of the declared dividend of $100,000,
Preferred Dividend = $40,000
Ordinary share dividend = $60,000
If the shares were cumulative, the prior year dividends would also be payable form the declared dividends bringing the total preferred dividend to $80,000.
Hope that helps.
The answer is<u> "Identifying potentially troublesome areas so that corrective action can be taken".</u>
A budget report is an inward report utilized by the board to think about the assessed, planned projections with the real performance number accomplished amid a period.
Budgeting and financial forecasting are devices or tools that organizations use to build up an arrangement of where the executives needs to take the organization and whether it's going the correct way. Albeit budgetary determining and planning are frequently utilized together, there are particular contrasts between the two.
Answer:
3 is the correct answer, financial managers are in charge of all of the companies finances
Explanation:
