Answer:
1. Sales Budget
2. Selling and Administrative Budget
3. Budgeted Income Statement
4. Budgeted Balance Sheet
Explanation:
First of all the sales budget is prepared in which expected sales are shown and then the selling and administrative budget is prepared which shows expenses related to sale.
The income statement budget is prepared which shows the expected income.
Then at last Budgeted Balance Sheet is prepared in which the expected income is transferred.
The order in which they appear is as follows.
1. Sales Budget
2. Selling and Administrative Budget
3. Budgeted Income Statement
4. Budgeted Balance Sheet
Answer:
The EAR you earn from the match is 100%.
Explanation:
Since a full 5 percent match will be received if 5 percent of your salary is invested, this implies that 100% will be earned by you from the match up to 5%.
For example, if 5 percent of your salary that you put in is $200, the East Coast Yachts will match the $200. This indicates that effective annual return (EAR) earned by you from the match is 100%.
Therefore, the EAR you earn from the match is 100%.
Answer:
The effect the entry to recognize the uncollectible accounts expense for Year 2 will have on the elements of the financial statements are that it will reduce Accounts Receivable to $15,560 and the Allowance for Doubtful Accounts to $1,900 at the end of Year 2.
Explanation:
Credit sales estimated to be uncollectable = Credit sales * Estimated percentage uncollectable = $215,000 * 1% = $2,150
Ending account receivable = Beginning accounts receivable + Credit sales - Cash collected - Receivales written off as uncollectable - Credit sales estimated to be uncollectable = $76,000 + $215,000 - $271,100 - $2,100 - $2,150 = $15,560
Ending Allowance for Doubtful Accounts = Beginning Allowance for Doubtful Accounts - Allowance for Doubtful Accounts - Receivales written off as uncollectable = $4,000 - $2,100 = $1,900
Therefore, the effect the entry to recognize the uncollectible accounts expense for Year 2 will have on the elements of the financial statements are that it will reduce Accounts Receivable to $15,560 and the Allowance for Doubtful Accounts to $1,900 at the end of Year 2.
Answer: B
Explanation: Engines for the cars is a cost directly related to the Ford cars being produced. The property taxes and the janitors rates are indirect costs because they are general costs needed to run the business but are not directly linked to the production of the ford cars
