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3 years ago

The accumulated depreciation account is a permanent account. a. True b. False

Business

2 answers:

belka [17]3 years ago

6 0

Its false
hope it helped.....

aleksley [76]3 years ago

4 0

Depreciation Expense is a temporary account since it is an income statement account.
Therefore, the answer is
b . False

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Jasper Company has sales on account and for cash. Specifically, 70% of its sales are on account and 30% are for cash. Credit sal

kaheart [24]

Answer:

Jasper Company

Cash Receipts Budget for April, May, and June:

April May June Total

Cash Sales 30% $157,500 $160,500 $168,000 $486,000

Credit Sales 70% 400,000 367,500 374,500 1,142,000

Total $557,500 $528,000 $542,500 $1,628,000

Explanation:

1. Cash Receipts Budget shows the estimated cash receipts from customers and other sources.

2. Calculations:

a) Cash Sales for April = 30% of April Sales = 30% * $525,000 = $157,500. The difference of 70% is received in May.

b) Sales received on account for April = 100% of Accounts Receivable = $400,000.

c) Cash Sales for May = 30% of April Sales = 30% * $535,000 = $160,500. The difference of 70% is received in June.

d) Cash Sales for June = 30% of April Sales = 30% * $560,000 = $168,000. The difference of 70% is received in July.

3 0

3 years ago

I need help!!

borishaifa [10]

Answer:

Explanation:

hope this helps

4 0

2 years ago

There is a need to develop theories about what kind of fraud has occurred.

Mashcka [7]

A fraud in general terms refers to a wrongful or criminal deception intended to result in a financial or personal gain. This kind of acts should be more observe especially to those people that are done by the wrongful act and theories and some investigation should be done in order to counter the next incident that might happen with the same kind of fraud.

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2 years ago

The Porch Cushion Company manufactures foam cushions. The number of cushions to be produced in the upcoming three months follows

yKpoI14uk [10]

Answer: 25,200 pounds

Explanation:

Your question is incomplete as it lacked the first part. I attached a completion that I found.

The company has a policy that the ending inventory of foam each month must be equal to 30% of the following month's expected production needs.

This means that in August, the Opening inventory will be 30% of what was is needed in August and the Closing Inventory will be 30% of what is needed in September.

Remember that each cushion requires 2 pounds of foam as stuffing.

Pounds required in August

= 12,000 cushions * 2

= 24,000 pounds

Opening Stock

= 30% * (12,000 * 2)

= 7,200 pounds

Closing stock

= 30% * ( 14,000 * 2)

= 8,400 pounds.

Foam needed to be purchased in August = Pounds required tonbe produced + Closing Stock - Opening Stock

= 24,000 + 8,400 - 7,200

= 25,200

25,200 pounds of foam are what The Porch Cushion Company needs to purchase in August.

7 0

2 years ago

Revenue is recorded when services have been performed or products have been delivered to customers. The accounting principle sup

VladimirAG [237]

Answer:

The revenue recognition principle

Explanation:

The revenue recognition principle states that revenue should be recorded when services have been performed or products have been delivered to customers and not when cash is received for the service rendered

For example, if a supplier delivers 10,000 worth of goods to consumers in November and is paid for the goods in December. Revenue should be recognised in November and not December.

3 0

2 years ago