Answer:
It will be reported as accrued expenses (c)
Explanation:
Accrued expenses represents amount owed for either serviced that has been enjoyed or goods that have been delivered but yet to be paid for.
Income statement is prepared on accrual basis, hence, these expenses will be recognized in the current period and matched with revenues generated.
Answer:
price per share in March is $96
Explanation:
given data
January price per share = $193.04
January prime rate = 2.75%
march prime rate = 5.50%
to find out
What was the price per share in March
solution
we know that here price is proportional to prime rate
Price ∝ 
........1
so price = k × ...............2
k is constant here
so put all value for january
193.04 = k × 
k = 5.28
so for march price per share will be by equation 2
price = 5.28 × 
price = 96
so price per share in March is $96
The answer is tuition fees, room and board, books, supplies and other expenses.
Answer:
False.
Explanation:
To close the underapplied Manufacturing Overhead account requires that the Cost of Goods Sold is debited, say with $100 while the Manufacturing Overhead account is credited with the same amount. Underapplied Manufacturing Overhead account means that a debit balance is left after applying the overhead to production. To close this debit, therefore, a credit entry is required to the manufacturing overhead account. The corresponding debit entry goes to the Cost of Goods Sold, or this may be apportioned among Cost of Goods Sold, Finished Goods Inventory, and Work-in-Process, as may be the case.
Answer:
b.a specific account receivable is decreased for the actual amount of bad debt at the time of write-off.
Explanation:
The journal entry to record the bad debt expense using the write - off method is shown below:
Bad debt expense XXXXX
To Account receivable XXXXX
(Being the bad debt expense is recorded)
So by passing this journal entry we get to know that the bad debt expense should be debited which reflects the actual amount as it increases the expenses while at the same time it reduces the asset account i.e account receivable
Hence, the correct option is b.
