The difference between what the total sales should have been, given the actual level of activity for the period, and the actual total sales is a: Variance.
<h3>What is a variance?</h3>
Variance refers to the difference between the expected sales realizations and the actual sales results. This is often common in business as businessmen tend to make projections for the future.
Sometimes the reality is far from what they believed will happen and this is what is referred to as variance. Variance also occurs in different life activities. Sometimes, individual projections are not realized and this is what is known as a variance.
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Answer:
Explanation:
Schedule of expected cash collection is a form of budgeted that list the time frames and the amount of payment expected from customers for the purpose of efficient planning.
Account receivables
60% * October sales = 67,000
November sales
40% * 320000 (November sales) = $128,000
$195000
December cash collection
60%*320000 (November sales) = 192000
40%*330000 (December sales)= $132000
$324,000
Answer:
The balance of uncollectible accounts after the adjustment will be $15,000
Explanation:
On December 31, the balance of the accounts receivable is $300,000 and on same data it is suggested that the 5% of the account receivable will be not be collected.
So, the balance of the uncollectible accounts will be computed as:
Uncollectible accounts = Account receivable balance × % which will not collected
where
Account receivable balance is $300,000
% which will not be collected is 5%
Putting the values above:
= $300,000 × 5%
= $15,000
NOTE: The allowance for uncollectible accounts of $1,000, already credited, so will not be considered again.
The
small investor is the group that are able to day trade and most likely able to invest
across different industries. They also utilize a tax advantages instrument such
as IRA. This also a group that would face less red tape.
