Answer:
Explanation:
The ending retained earnings = beginning retained earnings + net income - Dividends Paid
Net income = ending retained earnings - beginning retained earnings + Dividends Paid
= $833,000 - $724,000 + $50,000
= $159000.
Therefore, the net income for the year is $159000.
Answer:
$5,140
Explanation:
Data provided in the question:
Uncollectible Accounts receivable = $5,800
Balance of Accounts Receivable = $108,000
Allowance for Doubtful Accounts = $660
Credit sales during the year = $166,000
Now,
Bad debt expense = Uncollectible Receivables - Allowance of doubtful debts
or
Bad debt expense = $5,800 - $660
or
Bad debt expense = $5,140
Answer:
Revaluation of assets and liabilities
Explanation:
The main adjustments required at the time of a partner from a partnership firm: Change in the profit sharing ratio. Accounting treatment of goodwill.
Answer: (C) The daily and weekly sales volume
Explanation:
According to the given question, the daily and weekly sales volume is one of the best indicator for checking the effectiveness of the advertising in an organization as it helps in measuring the various types of sales statistics on the basis of weekly or daily target.
By using the following ways we can monitoring the sales volume either daily or weekly basis are as follows:
- By carefully monitoring the share
- Analyzing the sales's result
- Feedback from the customers
- Place the data in graph format
Jami is basically managing the advertisement campaign and for the purpose of monitor this advertising campaign we basically analyzing the sales volume such as the product line, sales region and also the product level.
Therefore, Option (C) is correct answer.
Answer:
The City of Willows
Reconciliation Entries:
Debit Cash $500
Credit Deferred Revenue $500
To record the increase of deferred revenue.
Debit Compensated Absences Expense $150
Credit Compensated Absences Liability $150
To record the increase of compensated absences.
Explanation:
a) Data and Calculations:
Beginning balances:
Deferred Revenue = $3,500
Compensated Absences Liability = $1,000
Increases during the year:
Deferred Revenue = $500
Compensated Absences = $150
Reconciliation Entries:
Cash will increase by $500 and Deferred Revenue will increase by $500
Expenses will increase by $150 and Compensated Absences (Liability) will increase by $150.
