Answer: 0
Explanation:
Accrual accounting method simply means when revenue or expenses are written down and recorded at the time that the transaction took place and not when payment was gotten.
The revenue that is recognized on the March income statement will be 0. This is because the delivery was in April and none took place in March.
Answer:
huh.............................................................................................
Answer:
- cost of goods sold
- raw materials inventory
- work in process inventory
- finished goods inventory
Explanation:
solution
As manufacturing industry always keep the track of costs of each inventory as product is moving from the raw material inventory in to the work in process and by the work in process it goes into the the finished goods inventory
so order of the flow of goods from beginning to end is
- cost of good sold
- raw material inventory : it is the total cost of material that is use in production process
- work in process inventory : work in process inventory is continually update work cost is record
- finished good inventory : after each job work complete then product is transfer to finished goods inventory
Answer: rational
Explanation:
Rational expectations is a way by which individuals make their decisions based on their past experience, self interest, human rationality and the information that they have.
Therefore, when individuals acquire, process, and act on relevant economic information promptly in their own self-interest and investigate its impact on others, they are said to have rational expectations.
Answer:
$870
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.
Allowance for uncollectible accounts at 5%
= 5% * $302,000
= $1,510
Since the Allowance for Uncollectible Accounts was $640 (credit) before any adjustments, the bad debt expense for the year
= $1,510 - $640
= $870
