Answer:
Yes, Ryan Frazier is behaving in a professional manner.
Explanation:
Yes, Ryan Frazier is behaving in a ethical and professional manner because the company is following FOB point method when shipping goods it customers due to the fact that Ryan Frazier, controller of Anstead Co., has suggested that all orders received before the end of the fiscal year be shipped by midnight as the company follows merchandise FOB shipping points the company should go ahead and record the sales in the current year Octocber 31st due to the fact that FOB shipping point means that the buyer pays all cost incurred for the delivery of the goods once the goods has left the suppliers warehouse which makes the buyer to becomes the owner of the goods in transit when the goods are been shipped by the seller.
<span>On december 31, 2015, a company had assets of $16 billion and stockholders' equity of $8 billion. however it had assets of $20 billion and stockholders' equity of $9 billion as of december 31, 2016. during 2016, total sales revenue was $9 billion and total expenses was $7 billion.
As Total asset is 20 billion and stockholders equity is 9 billion the liabilities are 11 billion. The Debt to Asset ratio = Liabilities / Assets
= 11 Billion / 20 Billion = .55 (55%)</span>
Answer:
Since the debt has already been provided for by Debiting bad debt expense $42,400 and Crediting Allowance for doubtful debt $42,400, the entries required to write off the debt from Ramirez Company of $6,330 will be
Debit Allowance for doubtful debt $6,330
Credit Accounts receivable $6,330
Being entries to writeoff debt due Ramirez Company of $6,330
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
Where a debit that had previously been determined to have gone bad gets settled, debit cash and credit bad debt expense.
Answer: The correct option is C. One, zero.
Explanation:
When income elasticity is greater than one, it indicates that the quantity demanded is greater than the rise in income.
As quantity demanded increases, it will lead to a decrease in price to the extent that the percentage change in price will outweigh the percentage change in quantity demanded, meaning that the price elasticity is greater than zero.
When these two elasticities are combined, the resulting effect will be an increase in the level of consumer spending on smartphones.
Answer:
Cash (Debit) $2,000
Sales (Credit) $2,000
Cost of Merchandise Sold (Debit) $1,250
Merchandise Inventory (Credit) $1,250
Explanation:
Cash (Debit): Cash increase because it is a Cash Sale, cash increases by debit.
Sales (Credit): to register the sale, Sales(income) increases by credit
.
Cost of Merchandise Sold (Debit): to record the cost of the merchandise sold, the costs increase by debit.
Merchandise Inventory (Credit): to record the inventory output of the merchandise sold, inventory decreases by credit.
