The allowance for doubtful accounts credited, instead of accounts receivable when recording the adjusting entry for bad debts Because accounts receivable is made up of numerous client accounts, it cannot be credited unless it is known which particular customer will not pay.
The provision for questionable accounts is referred to as a "counter asset" since it reduces the value of an asset, in this example, the accounts receivable. The compensation, often known as a doubtful account, is management's projection of the amount of accounts receivable that customers will not pay. Let's assume, using the aforementioned example, that on June 30 a business reports an accounts receivable debit balance of $1,000,000. The business predicts that $50,000 will not be converted into cash and expects some consumers won't be able to pay the full amount.
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Answer:
1. A
2. B WHICH DIVISONS IS MUST PROFITABLE IN TERM OF RACE OF TURN ON ENVRONMENT
Answer:
B) economic performance
Explanation:
The triple bottom line approach (TBL) refers to an accounting framework with three pillars:
- financial profit
- social responsibility
- stewardship of the environment
The three pillars are part of a broader scope of business values and corporate responsibility.
Answer:
D) budgets are a total amount and standards are a unit amount.
Explanation:
For each given choice in the question explanation is provided below as to why its or its not the correct answer.
A) only budgets contribute to management planning and control.
Both budgets and standards contribute in the planning and control are of the company. Therefore, this option is incorrect.
B) budgets but not standards may be used in valuing inventories.
Once gain both are used for valuing inventory, this is due to the fact that budget contains details gathered in standard costing. Therefore, this option is incorrect.
C) budgets but not standards may be journalized and posted.
Both the budget and standard are journalized and posted in the accounting system. Therefore, this option is incorrect.
D) budgets are a total amount and standards are a unit amount.
As standards are unit amounts which contributes in preparing the budget which are total amounts.
Hence, option D is correct.
Answer:
land, Accounts Receivable
Notes Payable , Buildings
,Equiment
Explanation:
land will last very long if u take care if it
Notes payable are long-term assets because it says ' due in three years ' nad from what i know 3 years is alot
buildings are also very long-term asest if you build them strong and powerful
Notes Payable are long-term assets because it says " due in six months " . From whay i know 6 months is half year , and that is a lot
last but not least equiment . If you take care if your equiment it will stay good for al long time
P.S , hope it is right
PEACE
