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2 years ago

Meadows Manufacturing follows the accrual system. An accrual results when __ and a deferral results when .

Business

1 answer:

SashulF [63]2 years ago

6 0

Answer:

A . $6,000 cash is received after a customer has been billed; $4,500 cash is paid for next quarter's insurance for property.

Explanation:

The accrual system is a bookkeeping method where expenses and income are recognized as they are incurred regardless of whether money has moved in or out. In the accrual method, a sale will be recorded when an invoice is generated even if the customer has not paid.

Expenses are also recorded are they are incurred. Material ordered will be recognized as an expense when the order is prepared, and not when payments were made. The accrual system makes the comparison of income and expenses for a period possible. One drawback is that a firm pays taxes for incomes it has not actually received.

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they wanted to eliminate prices

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2 years ago

Austin Grocers recently reported the following 2016 income statement (in millions of dollars): Sales $700 Operating costs includ

Zolol [24]

Answer:

$152.4 million

Explanation:

The computation of the projected net income is shown below:

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Net income = (EBIT - interest) × (1 - tax rate)

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2 years ago

Accounts receivable are assets on a balance sheet most likely because they represent the?

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3 years ago

Bates Company plans to add a new item to its line of consumer product offerings. Two possible products are under consideration.

ivolga24 [154]

Answer:

differential revenue = $7

so correct option is a.$7

Explanation:

given data

Product A costs = $6

contribution margin = $3

Product B costs = $12

contribution margin = $4

to find out

the differential revenue for this decision

solution

we get here the differential revenue for this decision that is express

so first we get here selling price for both product that is

selling price product A = Product A costs + contribution margin

selling price product A = $6 + $3 = $9

and

selling price product B = $12 + $4 = $16

so now we get differential revenue that is

differential revenue = selling price product B - selling price product A

differential revenue = $16 - $9

differential revenue = $7

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3 years ago

When the allowance method of recognizing uncollectible accounts is used, the entries at the time of collection of a small accoun

slavikrds [6]

The allowance method of recognizing uncollectible accounts used is one where there is no effect on net income.

<h3>What is the allowance method?</h3>

This is known as a method that entails the use of or the act of setting aside a kind of reserve for bad debts that are seen or foretell to take place in the future.

The reserve is one that is based on a percentage of the sales gotten in a reporting period, in terms of those adjusted for the risk linked with some customers.

Learn more about allowance method from

brainly.com/question/6993526

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2 years ago

Meadows Manufacturing follows the accrual system. An accrual results when ____________ and a deferral results when __________.

Meadows Manufacturing follows the accrual system. An accrual results when __ and a deferral results when .