Allowance for doubtful accounts is classified as a(n) contra asset account and has a normal <u>credit </u>balance.
<h3>What is
contra asset?</h3>
In a general ledger, a contra account is used to lower the value of a linked account when the two are netted together. The natural balance of a contra account is the inverse of the related account. The contra account records a credit if the connected account's natural balance is a debit. As an illustration, accumulated depreciation serves as the contra account for a fixed asset.
An account used in a general ledger to lower the value of a connected account is called a contra account.
They can be used to report a decrease or write-down in a different contra account that nets to the current book value while maintaining the historical value in the main account.
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Answer:
Sina looks over annual performance evaluations for all employees in the sales department. Based on their performance, she determines who is eligible for merit-based salary increases. Sina belongs to the human resources work group.
Option E is the correct answer.
Explanation:
Option E is the correct answer, the reason being that the human resources department supervises all the employees' performance and incentive associated matters.
Answer and Explanation:
The preparation of the schedule to reconcile the net income to net cash flow from operating activities is presented below:
Cash from operating activities
Net income $24
Adjustment to reconcile
Add: Depreciation expense $11.5
Add: Depletion expense $5.4
Less: Gain on sale of Equipment -$17.5
Add: Loss on sale of land $7.3
Less: increase in account receivable ($292.30 - $228) -$64.30
Add: increase in accounts payable ($177.60 - $165) $12.6
Add: increase in salaries payable ($29 - $24) $5
Add: decrease In prepaid insurance ($18.7 - $14.3) $4.4
Add: Decrease in bond discount ($12.3 - $10.4) $1.9
Add: increase in income tax payable ($24 - $12.4) $11.60
net cash flow from operating activities $4.20
The cash outflow represents in a negative sign while the cash inflow represents in a positive sign
Answer:
Evaluative Criteria
Explanation:
Evaluative criteria is the situation whereby an individual decides to buy more than what he or she initially had in mind during to varying factors which may include price, characteristics, advertising effect, competitive context and so on of those extra things bought. Evaluative criteria results from desired benefits. The wall street journal in this case provides customers with evaluative criteria.
<span>Answer : Chart of accounts
Explanation:
A chart of accounts (COA) is a created list of the accounts used by an organization to define each class of items for which money or the equivalent is spent or received. It is used to organize the finances of the entity and to segregate expenditures, revenue, assets and liabilities in order to give interested parties a better understanding of the financial health of the entity.</span>
