Answer:
b. Common-size income statement
Explanation:
The common-size income statement refers to the income statement which show the each item of the income statement with respect to the percentage of sales revenue.
It helps to analyze the company overall productivity, financial position, performance of the company that helps the company to compare with its competitors.
Answer:
Correct option is D
Answer is increased by $ 77232
Explanation:
Effect on Inventory:
Increase due to purchase $80000
Decrease due to return -$1600
Increase for freight paid $400
Decrease for discouont availed -$1568 (78400*2%)
<u>Net Increase in Inventor =$77,232</u>
Answer:
(a) What was the total of accounts written off during the first 11 months?
bad debts written for the first 11 months = allowance for bad debt accounts January 1 balance + bad debt expense - allowance for bad debt accounts November 30 balance = $13,085 + $21,937 - $9,919 = $25,103
(b) As the result of a comprehensive analysis, it is determined that the December 31, 2010, balance of the Allowance for Bad Debts account should be $9,450. Show the adjustment required in the journal entry format.Allowance for bad debt Debit $Bad debt expenses Credit $
to determine the amount of bad debt expense that must be adjusted, we must subtract the estimated balance in December 31 from the balance in November 30 = $9,919 - $9,450 = $469. Since the November 30 amount is larger, it means that we over estimated our bad debt expense and it must be reduced:
Dr Allowance for doubtful accounts 469
Cr Accounts receivable 469
The correct answer would be option A, Frank should share the culture of the company through stories, rites, and rituals.
As they sit down over coffee at the local deli, Frank should share the culture of the company through stories, rites, and rituals, with the new owner about the success of his business.
Explanation:
Frank is in the furniture business for so long. Now he is retiring, and he wants his business to be persuaded successfully in the future as well. He is selling his store to people who have no roots in the community. He wants to share the secret of his success to the new owner.
So to make the new owner understand the secret of success, Frank should share the culture of the company by telling the new owner, stories, rites and rituals of the company which made his business successful.
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Any contract Fay enters into is "voidable if the other party does not realize that Fay is incompetent".
Business contract law holds that people that have been proclaimed mentally uncouth in a courtroom may discover an agreement they go into announced void, voidable, or enforceable. The guardian is the main individual who can go into an agreement for the incompetent individual's behalf.
