The agency would be described as partially disclosed. A partially disclosed happened because Philip has been notified that Faye is representing someone, but has no notice of Robert’s identity. In here, <span>Faye is liable to Philip even if she did not disclose the identity of Robert, but, she has a right to be refunded for any losses suffered due to Robert’s default.</span>
Answer:
The answer is below;
Explanation:
b. Allowance for Doubtful Accounts Dr.$4,000
Bad Debts Cr.$4,000
c. Bad Debt Expense Dr.$5,000
Account Receivable Cr.$5,000
d. 1)Account Receivable Dr.$5,000
Bad Debt Expense Cr.$5,000
2)Cash Dr.$5,000
Account Receivable Cr.$,5000
Answer:
For a manufacturer the budgeted income statement includes amounts from the sales, cost of goods sold, cash, and capital expenditures budgets (c)
Explanation:
Like a typical income statement, the Budgeted income statement would show its Sales Forecast, and the resultant costs of producing these volume projected. It will usually follow a trend consistent with the Previous years Business seasonality, peak and lows, and duration of consumer improved disposable income (e.g periods of tax credit, black friday etc).
In addition a Business will want to forecast its Cashflow and Capital expenditure (Balance Sheet) so as to have a general view of what to expect if circumstances turn out as planned and to have a picture of how much growth or decline it is projecting into the future.
