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3 years ago

The area of accounting that provides managers inside the organization with information they need to make decisions is called:

1 answer:

3 0

The area of accounting that provides managers inside the organization with information they need to make decisions is referred to as "Management Accounting".

><span>Management Accounting is an </span>area of accounting that refers to providing information to support internal management decisions.

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At the end of 2016, blossom company has accounts receivable of $691,500 and an allowance for doubtful accounts of $25,740. 1. on

Anon25 [30]

Answer:

1. JOURNAL ENTRIES

Dr. Allowance for Doubtful Debts

Cr. Accounts receivable

Being bad debts written-off

2. JOURNAL ENTRIES

Dr. Cash

Cr. Bad debts recovered

Being bad debts written off, now recovered.

Explanation:

At the end of 2016, blossom company has accounts receivable of $691,500 and an allowance for doubtful accounts of $25,740.

1. If on January 24, 2017, it is learned that the company's receivable from Madonna inc. is not collectible and therefore management authorizes a write-off of $3,943.

JOURNAL ENTRIES

Dr. Allowance for Doubtful Debts

Cr. Accounts receivable

Being bad debts written off

2. on march 4, 2017, blossom company receives payment of $3,943 in full from Madonna inc.

JOURNAL ENTRIES

Dr. Cash

Cr. Bad debts recovered

Being bad debts written off, now recovered.

5 0

3 years ago

Read 2 more answers

The cost of implementing and maintaining an activity-based costing system ______ the benefits received. Multiple choice question

aalyn [17]

The implementation and maintenance of an activity-based costing system may outweigh costs greater than the benefits obtained (option B)

<h3>What is the Activity Based Costing System?</h3>

The ABC (Activity Based Costing) is a model that allows the allocation and distribution of the different indirect costs, according to the activities carried out, since these are the ones that actually generate costs.

This system arises from the need to solve the problem that standard costs normally present, when they do not faithfully reflect the added value chain in the production of a specific product or service, and therefore, it is not possible to adequately determine the price.

According to the above definition, it can be inferred that this costing system is not the most efficient because it can result in implementation and maintenance may outweigh costs over profits or benefits.

Note: This question is incomplete because the options are missing. Here are the options:

will always be higher than
may outweigh
will always be less than

Learn more about Activity Based Costing System in: brainly.com/question/24929506

8 0

3 years ago

What would you pay for an investment that pays you $49000 at the beginning of each year for the next ten years? Assume that the

mr_godi [17]

Answer:

$360,644

Explanation:

The computation of the amount paid for an investment is as follows:

= Payment made × ((1 - (1 + rate of interest)^-number of years) ÷ rate of interest

= $49,000 × ((1 - (1 + 0.06)^-10) ÷ 0.06)

=$360,644

We simply applied the above formula so that the correct value could come

And, the same is to be considered

Hence, the amount paid for an investment is $360,644

6 0

3 years ago

What was the first product sold by heinz in 1869?

pickupchik [31]

Heinz tomato ketchup

4 0

3 years ago

Legacy issues $660,000 of 5.5%, four-year bonds dated January 1, 2018, that pay interest semiannually on June 30 and December 31

dusya [7]

Answer:

Legacy

The total bond interest expense to be recognized over the bond's life is:

= $189,172.82

Explanation:

a) Data and Calculations:

Face value of 5.5% bonds issued = $660,000

Proceeds from the bonds issue = 648,412

Bonds discounts = $11,588

Interest payment = semiannually at 2.75% (5.5%/2)

Market interest rate = 6%

Effective semiannual interest rate = 3% (6%/2)

N (# of periods) 8

I/Y (Interest per year) 3

PV (Present Value) 648412

PMT (Periodic Payment) 18150

Results

FV = $982,784.82

Sum of all periodic payments = $145,200.00

Total Interest = $189,172.82

6 0

3 years ago