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guajiro [1.7K]
3 years ago
7

At the end of year 1, the balance sheet for the Rich Food Restaurant showed cash at $20,000. At the end of Year 2, the balance s

heet showed $40,000 in cash. A horizontal analysis of the balance sheet would show the absolute difference between the two years as
$20,000 T/F
Business
1 answer:
Nina [5.8K]3 years ago
8 0

Answer:

The answer is True

Explanation:

Horizontal analysis is the comparison of historical financial information over a series of reporting period (financial periods). It can also be used to project the amounts of various line items into the future.

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In a certain country, the labor force is 30 million and the unemployment rate is 5 percent. what is the amount of unemployed ind
meriva
Given the number of the total population who belonged in the work or labor force which is 30 million, and the recorded percentage of those who are unemployed is 5 percent, this means that a number of unemployed individuals in this country is 1,500,000. Hope this helps.
3 0
3 years ago
Match the term with its beliefs about the millenium.
xenn [34]

Answer:

a is premillenialism

b is postmillenialism

c is amillenialism

Explanation:

for a, the answer to this question is premillinialism. this is the belief that Jesus is going to come back to this earth phsyically. It can aslo be referred to as the second coming of Jesus christ. And he would come before the millenium

8 0
3 years ago
At year-end (December 31), Chan Company estimates its bad debts as 0.70% of its annual credit sales of $862,000. Chan records it
KiRa [710]

Answer: Please see the required journals below:

December 31:

Debit Bad debt expense                                $6,034

Credit Allowance for doubtful accounts       $6,034

February 1:

Debit Allowance for doubtful accounts              $431

Credit Accounts receivables                               $431

June 5:

Debit Cash                                                            $431

Credit Bad debt recovery (income statement)   $431

Explanation: The company estimates its bad debt expense as percentage of sales. In this case 0.7% of its annual sales of $862,000 was deemed as uncollectible, that is, 0.7% x $862,000 = $6,034. The required journals to recognize this bad debt expense is provided above. However, since there was an existing provision, which resides in the allowance account, a write-off would definitely hit that account in order to extinguish the accounts receivable portion. Upon recovery of the write-off, we cannot reinstate the receivable since it was already extinguished but we need to recognize the recovery as a gain.

3 0
3 years ago
Read 2 more answers
You have a credit card balance of $53.00 from the previous month. You have $172.45 in new purchases and you made a payment of $5
Misha Larkins [42]

Answer:

$50

Explanation:

As per previous balance method the Interest is charged based on the opening balance of the Credit Card.

As $50 was the balance from previous month and opening balance for this month, Hence $50 would be the amount we would use to calculate the interest for this month.

5 0
3 years ago
Explain the stages involved in the recruitment of new staff into an organisation
tino4ka555 [31]

Answer:

1.)Recruitment Planning

(ii) Strategy Development

(iii) Searching

(iv) Screening

(v) Evaluation and Control.

Explanation:

The recruitment planning phase may involve the identifucatuonof position s which requires additional hands and the number required.

The strategic planning phase invokes coming up with the plans, form or dimension in which the recruitment process could take.

Searching : This may involve advert placement and acceptance of proposals or applications from interested applicants.

Screening : Thus step involves the vetting process of received applications in other it determine those suitable for the job.

Evaluation and Control : thus us often the final stage and may involve additional examination of screened applicants before the final recruitment and staffing.

4 0
3 years ago
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