Answer and Explanation:
The journal entry is shown below:
Bad debts expense Dr $60,000
To Accounts receivable $60,000
(Being the written off amount is recorded)
For recording this we debited the bad debt expense as it increased the expenses and credited the account receivable as it reduced the assets
So for correcting posting and recording we passed accurate entry
Its actually <em><u>A) Office Managers and Human Resource workers</u></em>
Answer:
Loss on putting for long time = $300 (Loss
)
Explanation:
Given:
Strike price = $120
Stock price = $123
Premium amount = $3 per share
Realize on investment = ?
Computation of realizing on investment:
Given that strike price is lower than the stock price, So premium paid considers as a loss.
Loss on putting for long time = $3 × 100
Loss on putting for long time = $300 (Loss
)
Answer:
Unitary variable cost= $40
Total variable cost= $800,000
Explanation:
Giving the following information:
Direct materials $ 10 per unit
Direct labor $ 20 per unit
Overhead costs for the year Variable overhead $ 10 per unit
Fixed overhead $ 160,000
Units produced 20,000 units
Unitary variable cost= direct material + direct labor + manufacturing overhead= 10 + 20 + 10= $40
Total variable cost= 20000units* 40= $800,000
Answer:
Correct answer is TRUE
Explanation:
Non-cash assets are expected to produce cash over time but the amount of cash they eventually produce could be higher or lower than the values at which the assets are carried on the books. Some factors that affects the value of non-cash assets are the general economic forces such as inflation or deflation, amortization or impairement itself of the assets. It maybe realized at favorable side (gain) or unfavorable (loss) side.
