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Answer:
C. Estimate credit losses.
Explanation:
the client prepared aged triad balance of account receivable is generally included in audit documents so that the evaluation of estimated credit losses can be done.
Therefore, This aging is best used by the auditors to Estimate credit losses.
Answer:
d. $7,032
Explanation:
The computation of the interest expense is shown below:
= Sale value of the bond × market interest rate ÷ 0.5
= $117,205 × 12% ÷ 0.5
= $117,205 × 6%
= $7,032
Simply we multiply the sale value of the bond with the market interest rate so that the accurate amount of the interest expense can come.
We divide it by 0.5 because as the number of months is 6 months and total months is 12. The six month is calculated from the January 1 to July 1
Answer:
The correct answer is letter "B": Information is based on estimates and is bounded by relevance and timeliness.
Explanation:
Managerial Accounting is an in-house accounting that lets managers assess their decision impact. One common managerial accounting method is to calculate the profit margin on the goods produced. This information helps managers to set product prices and ensure that they make appropriate profit margins.
<em>The information managerial accounting uses are estimates of the operations of the firm and only important current data is considered. Though, previous periods information may be required for reference.</em>
Quick ratio = 1.30 (Option C)
<u>Explanation:</u>
Quick ratio or acid test ratio is calculated as follows:
(Cash plus marketable securities plus accounts receivable ) divide by total current liabilities
In our question, we have been given with the data:
Cash = 45 million
Marketable securities = 33 million, accounts receivable = 66 million, total current laibailities = 111 million
So, let us now put the given values in the above stated formula:
Quick ratio = ( 45 plus 33 plus 66) divide by 111
After calculating we get, 1.30
Therefore, the quick ratio is 1.30