Answer:
Have no effect on net realizable value
Explanation:
Net realizable value is the value of accounts receivable less any allowance for bad debts. This amount is reported in the balance sheet. Under allowance method, if a particular receivable is uncollectible, then the amount is reduced from both accounts receivable and allowance for bad debts. As such, there is no effect on the net realizable value as both the accounts are reduced by the amount that is uncollectible.
Answer:
Total= 45,684 feet
Explanation:
Giving the following information:
Production budget:
February= 10,993
March= 8,559
Each chair produced uses 5 board feet of wood.
Management wants an ending inventory level of raw materials to equal 20% of the production needs (in wood) for the next month.
Direct material budget:
Production= 10,993*5= 54,965
Desired ending inventroy= (8,559*5)*0.2= 1,712
Beginning inventory= (10,993*5)*0.2= (10,993)
Total= 45,684 feet
Answer:
Non-profit organisation
Explanation:
According to the given details, Green heaven is probably a non-profit organisation. Non-profit organisations or NGOs are usually exempted from federal and state income taxes. These organisations are exempted from the taxes to encourage voluntary work and to help poor and needy people. Some Non-profit organisations are also listed in the stock market and they also pay dividends.
Answer:
June 10
Dr Inventory $7,100
Cr Accounts payable $7,100
June 11
Dr Inventory $350
Cr Cash $350
June 12
Dr Accounts payable $600
Cr Inventory $600
June 19
Dr Account payable $6,500
Cr Cash $6,240
Cr Inventory $260
Explanation:
Preparation of a separate journal entries for each transaction on the books of Blossom Company.
Books of Blossom Company
June 10
Dr Inventory $7,100
Cr Accounts payable $7,100
June 11
Dr Inventory $350
Cr Cash $350
June 12
Dr Accounts payable $600
Cr Inventory $600
June 19
Dr Account payable $6,500
($7,100-$600)
Cr Cash $6,240
($6,500-$260)
Cr Inventory $260
(4%*$6,500)
Answer:
$4,900 (From simple interest method)
Explanation:
Given:
Amount invested (p) = $4,000
Interest rate for simple interest (r) = 4.5% = 4.5/100 = 0.045
Interest rate for Compound interest (i) = 4%
Number of year (t) = 5
Computation of amount from simple interest method:
Amount = p(1+rt)
Amount = $4,000[1+(0.045 × 5)]
Amount = $4,000[1+0.225]
Amount = $4,000[1.225]
Amount (from simple interest method) = $4,900
Computation of amount from compound interest method:
Therefore, Amount from simple interest method is higher .
