Answer:
(a) $200,100
(b) $200,100
Explanation:
The movement in the accounts receivable balance at the start and end of an accounting period is due to cash payments, additional credit sales, and any amount written off during the period.
This may be expressed mathematically as
opening balance + sales - cash collected - amount written off = closing balance
$35,100 + $361,800 - cash collected = $196,800
Cash collected = $35,100 + $361,800 - $196,800
= $200,100
The given statement " Trend analysis is one method of examining changes in a firm's performance over time, which the analysis of only one year's ratios will not show " is TRUE.
Explanation:
The trend analysis can also be used to do a comparative analysis to assess the financial company's performance over a time period. Compared to quantitative statistics, the trend analysis is more efficient, making top management more successful and smart decision-making.
Trends in working capital management and its impact on firms' performance.
In the corporate and financial industries, pattern analytics are relevant. Trend analyzes are often used to make financial stability predictions and analyses. To order to determine how the business can do in the future, financial analysts analyze the previous results and existing financial conditions.
Answer:
debit to Supplies Expense and a credit to Supplies
Explanation:
The adjusting entry to use the supplies is shown below:
Supplies expense Dr XXXXX
To Supplies XXXXX
(Being the supplies is adjusted)
For recording the adjusting journal entry, we debited the supplies expense and credited the supplies so that the proper posting could be done
Hence, the first option is correct
