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4 years ago

On the balance sheet after adjusting entries are made, the amount shown for the allowance for doubtful accounts is equal to the

1 answer:

3 0

On the balance sheet after adjusting entries are made, the amount shown for the allowance for doubtful accounts is equal to the total estimated uncollectible accounts as the end of the year. A doubtful account is a reduction of the total amount of acounts receivable appearing on a company's balance sheet and are listed as a deduction immediately below accounts receivable line item.

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Prior to the growth of the labor movement it was not uncommon for employees to have 60-hour workweeks. approximately when was th

melamori03 [73]

It was in the year 1900s. The labor movement is the aggregate association of working individuals created to speak to and battle for better working conditions and treatment from their managers and, by the execution of work and business laws, their legislatures. The standard unit of Association is the exchange union.

3 0

4 years ago

A bank account has an initial balance of $450. The account holder deposits $125 every week. How many weeks (excluding any intere

LUCKY_DIMON [66]

It will take the account holder 15 weeks to come up with a principal balance of $2325.

How?

Principal Balance - Initial Balance: $2325 - $450 = $1875

The account holder needs $1875 more in order to come up with the total principal balance of $2325.

$1875 / Weekly Deposits: $1875 / $125 = 15 Weeks

7 0

3 years ago

Read 2 more answers

Fitness Bands Corporation gathered the following information for Job #928: Standard Total Cost Actual Total Cost Direct materia

Eduardwww [97]

Question:

standard total cost Actual total cost

Direct material

Standard 2000 pints $3.50/pint $7,000

Actual 2,500 pints $5.00/pint $12,000

Answer:

Materials quantity variance= $1,750 unfavorable

Explanation:

Material quantity variance occurs when the actual quantity used to achieved a given level of output is more or less than the standard quantity.

It is determined by the difference between the actual and standard quantity of material for the actual level of output multiplied by the the standard price

pints

Standard quantity allowed 2,000

Actual quantity used 2,500

Quantity variance 500 unfavorable

Standard price $3.50

Materials quantity variance 1,750 unfavorable

Materials quantity variance= $1,750 unfavorable

8 0

3 years ago

Deferred income taxes arise because a. corporations often make errors in their tax estimations. b. companies can use accounting

svetlana [45]

Answer:

b. companies can use accounting methods that minimize net income for tax purposes and other methods that maximize net income for reporting to shareholders.

As they use a basis for accounting and prepare the financial statement temporary difference arise which, are settled overtime as in the end both, tax basis and accounting basis much get the same income

The most common example is depreciation if a company uses S179 and depreciate the entire of the asset purchase next year, while the accounting will have a depreciation expense associate with the equipment for tax purposes this assets basis is zero as it was completely depreciate thus, it will have a higher income making more tax payable than accounting income tax expense.

Explanation:

a. corporations often make errors in their tax estimations.

While this can occur is not the reason for deferred income taxes

c. the IRS owes a company a refund from last year.

No, the refund will not generate deferrd income tax It will be a receivable for the company.

d. large corporations generally have operations in foreign countries whose tax law is quite different from U.S. tax

While corporations do operate in foreing countries these doesn't necessary generate deferred taxes. Difference arise when the company uses a different method in his accounting than the State to determinate the tax basis.

8 0

4 years ago

A customer, who needs to drive to work in a Wisconsin winter, has a critical need to use the product Ice Melt. For him as a cons

Blizzard [7]

Answer:

Urgency / Postponement leads to customer inelastic demand of ice melt.

Explanation:

Elasticity of demand is responsive change in demand of good, due to change in price. Formula = % change in demand / % change in price

Factors Affecting Price Elasticity of Demand : Nature of commodity, Income, substitutes availability, time period, urgency / postponement, share in total expenditure,

Inelastic Demand is when demand responds proportionately less to price change. % change in demand < % change in price

Case 'Customer critically needs ice melt to drive to work' : This has inelastic demand i.e demand less respondent to price changes (he will buy that at high price too). Such because of the urgency of this demand & less scope of its postponement.

5 0

4 years ago