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4 years ago

What are the key revenue cycle accounts for ford? what accounts involve critical accounting estimates?

1 answer:

5 0

The key revenue accounts that are usually included in the cycle can help know more about business’ income moves through the company's accounting system. These are:

-Cash

-Sales

-Accounts Receivable

-A/R Subsidiary Ledger

-Financial Receivable

-Allowances for Doubtful Accounts

-Bad Debt Expense

-Sales Discounts

-Sales Returns and Allowances

-Leases

-Warranty Expense

-Warranty Liability

-Sales Commission Expense

Accounts that Involve Critical Accounting Estimates:

-Warranty and Additional Service Actions

-Automotive Sector

-Financial Service Sector

-Operating Leases-

Allowance for Credit Losses

-Allowance for Doubtful Accounts

-Bad Debt Expense

-Lease

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ruslelena [56]

You mutiply the outside number by the 1st number on the inside of the paranthesis

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3 years ago

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The common stock of the Avalon Corporation has been trading in a narrow range around $40 per share for months, and you believe i

Monica [59]

Answer:

C. Sell a straddle

Explanation:

Considering the following calculation: Sell a straddle = sell a put + sell a call

and,

Premium income for selling a straddle = (P + C )100 = ($3 + $4)(100) = $700.

a short straddle involves simultaneously selling a put option and call option with the same underlying asset, same exercise price and expiration date

By Selling a 3 month put option with exercise price of $40 one will get $3 (inflow of $3)

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3 years ago

Exercise 8-07 At December 31, 2019, Pharoah Company Company had a credit balance of $18,100 in Allowance for Doubtful Accounts.

Alja [10]

Answer:

Entries are given below

Explanation:

DATA:

Opening Balance in the allowance for doubtful debt = $18,100

During 2020 Pharoah company wrote off accounts totaling 12,900

Entry DEBIT CREDIT

Allowance for Doubtful Accounts $11,800

Accounts Receivable $11,800

At December 31, 2020, an aging schedule indicated that the balance in Allowance for Doubtful Accounts should be $23,700

Entry DEBIT CREDIT

Bad debt expense $17,400

Allowance for doubtful debt $17,400

Working

Balance before adjustment = $18,100 - $11,800

Balance before adjustment = $6,300

After Aging schedule indication

Adjustment = $23,700 - 6,300

Adjustment = $17,400

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3 years ago

West Corp. issued 15-year bonds two years ago at a coupon rate of 7.3 percent. The bonds make semiannual payments. If these bond

MaRussiya [10]

Answer:

7.44 %

Explanation:

The Yield to Maturity (YTM) is the Interest rate that makes the Present Value of Coupons and Principle equal the Market Price or Current Price of the Bond.

The Yield to Maturity can be calculated using a financial calculator as follows :

PV = - $100

N = (15 -2) × 2 = 26

PMT = ($100 × 7.30%) ÷ 2 = $3.65

FV = $103

P/YR = 2

YTM = ?

Therefore, Inputting the values in the calculator as shown gives the Yield to Maturity is 7.44 %.

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