Answer:
the amortization of Other Comprehensive Loss for 2022 is $38,370
Explanation:
The computation of the amortization of Other Comprehensive Loss for 2022 is shown below;
= (Accumulated other comprehensive loss - 10% of Projected benefit obligation) ÷ given no of years
= ($503,700 - 10% of $1,200,000) ÷ given no of years
= ($503,700 - $120,000) ÷ 10 years
= $38,370
hence, the amortization of Other Comprehensive Loss for 2022 is $38,370
The same would be considered
Answer:
Sales Discounts 190 debit
Allowance for Sales Discounts 190 credit
Explanation:
From the current accounts receivable, the company has 10,000 within discount period and t expect the customer will take them so:
10,000 x 2% = 200 expected discount
currenly the accouting balance for the expected discount is 10 so:
200 - 10 = 190 allowance for sales discounts adjustment.
Remember we do this adjustment to match the expenses or discount withthe period they are generated. Not doing so, will imput discount to the next period for transaction which occurs in the current one.
Using the allowance method, is bad debt expense recognized in the period in which sales related to the uncollectible account are made.
One of the most typical types of bad debt is credit card debt. Lenders issue credit cards, which let you make purchases on credit. These credit cards frequently have exorbitant interest rates that can soon become out of control.
Bad debt costs are typically listed on the income statement as a sales and general administrative expenditure. Accounts receivable on the balance sheet are reduced when bad debts are recognized, but firms still have the right to collect money if the situation changes.
Learn more about bad debts here
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Answer:
c.income from operations before service department charges was $1,650,000
Explanation:
We can see from the information in the question, that income from operations and service department charges sum a total of $1,650,000
Gross income before service department charges = $975,000 + $675,000
= $1,650,000
Answer:
Entrepreneurs occupy a central position in a market economy. For it's the entrepreneurs who serve as the spark plug in the economy's engine, activating and stimulating all economic activity. The economic success of nations worldwide is the result of encouraging and rewarding the entrepreneurial instinct.
Explanation:
