Answer: Establishing an Allowance for Doubtful Accounts under the allowance method is necessary <u><em>because estimates must be made when recording bad debt expense and it is not possible to know which specific accounts will not be collected.</em></u>
Allowance for doubtful accounts is a diminution of accounts receivable and is recorded as a write-off straightaway beneath accounts receivable that is appearing on a organization balance sheet.
Answer:
Stratified random sample
Explanation:
Stratified random sample -
It is also known as quota random sampling and proportional random sampling .
It refers to the process of sampling , where the complete data or population is distributed into smaller sub - groups , known as the strata .
The distribution of the strata is done on the basis of certain factors like age , gender , education qualification , etc. , there by making the sampling process easier .
Hence , from the given information of the question ,
The correct answer is stratified random sampling .
Answer:
D. Efficiency in arranging transactions.
Explanation:
in a barter system, it is difficult to determine how much something would cost. If I am raising corn and you are raising cabbage, how much corn equals one head of cabbage? It is difficult to come to fair trade terms. With a monetary system, it is much easier to set a price and make a trade because everyone is using a common trading instrument.
A written promise to pay a specific amount of money on a specific date is called a promissory note.
A promissory note, also known as a note payable, is a legal document in which one party agrees in writing to pay another party a certain amount of money on demand or at a specific future time, subject to certain terms and conditions.
A promissory note is a formal commitment to pay back borrowed funds. People can borrow money from banks and other lending institutions, as well as from one another. A promissory note is created when someone borrows money in order to legally protect both the payor and the payee. If you're loan a significant sum of money, a promissory note is very crucial. The promissory note serves as a formal record of your transaction, protecting you and guaranteeing that the borrower or organization will pay back the loan.
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Answer:
The correct answer is D.
Explanation:
Giving the following information:
Total Cost Production (units)
April $119,400 281,300
May 92,000 162,800
June 99,000 238,000
<u>To calculate the variable cost per unit and the total fixed cost, we need to use the following formula:</u>
Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)
Variable cost per unit= (119,400 - 92,000) / (281,300 - 162,800)
Variable cost per unit= $0.231
Fixed costs= Highest activity cost - (Variable cost per unit * HAU)
Fixed costs= 119,400 - (0.231*281,300)
Fixed costs= $54,701