A computerized spreadsheet programs is useful for

Selected data taken from the accounting records of Laser Inc. for the current year ended December 31, are as follows: Balance, D

Olin [163]

Answer:

1. Cash payments for merchandise is $446,030

2.Cash payment for operating expense is $77,870

Explanation:

1. In order to calculate the Cash payments for Merchandise we would have to use the following formula:

Cash payments for Merchandise= cost of goods sold +decrease in accounts payable-decrease in inventory

Cash payments for Merchandise=$448,500+$4,290-$6,760

Cash payment for Merchandise=$446,030

2. In order to calculate the Cash payments for operating expenses we would have to use the following formula:

Cash payment for operating expense=operating expense - decrease in prepaid expense +decrease in Accured

Cash payment for operating expense=$78,000 -$650+$520

Cash payment for operating expense=$77,870

5 0

3 years ago

_______best tip of the waiter a.attitude b.gratitide c.money d.foods

Drupady [299]

Answer:

Gratititude, because attitude is nice but not the best, money doesn't buy happiness, and the waiter serves YOU food.

6 0

3 years ago

Read 2 more answers

Check my work Check My Work button is now enabledItem 3Item 3 3.16 points Exercise 7-6 Percent of accounts receivable method LO

Y_Kistochka [10]

Answer:

Journal entries

(a)

Dr. Bad Debt Expense $1,736

Cr. Allowance for Doubtful Accounts $1,736

(b)

Dr. Bad Debt Expense $3,398

Cr. Allowance for Doubtful Accounts $3,398

Explanation:

Bad debt Expense will be calculated using the percentage of debt loss. The expense will be calculated using the account receivable balance.

Closing Value of the Allowance for Doubtful Accounts will be as follow

Closing Balance = $75,500 x 4% = $3,020

(a)

As Allowance for Doubtful Accounts already have credit balance of $1,284, we need to adjust the remainder to make the closing balance of Allowance for Doubtful Accounts $3,020 at the year end.

Adjustment Value = $3,020 - $1,284 = $1,736

(b)

As Allowance for Doubtful Accounts already have debit balance of $378, we need to adjust the remainder to make the closing balance of Allowance for Doubtful Accounts $3,020 at the year end.

Adjustment Value = $3,020 + $378 = $3,398

8 0

4 years ago

Which of the following situations represents an economic problem? a) A student trying to decide how to spend his weekly allowanc

enot [183]

<h2>Both situations are examples of an economic problem.</h2>

Explanation:

Let us understand the term "economic problem"

Though the expectation of the people are endless, the "resources available" to satisfy the need is limited. This causes the "economic problem".

A student trying to decide how to spend his weekly allowance:

The need of student may be endless but still he is in a position to decide only based on the amount which he has to spend. He needs to prioritize the needs and then spend accordingly.

A country choosing to sacrifice some privacy to gain more security:

Under a compelled situation, the country has to sacrifice the privacy and then have to gain security. The loss due to negotiation of privacy is for sure and this leads to economic problem.

5 0

3 years ago

A company is to hire two new employees. They have prepared a final list of thirteen candidates, all of whom are equally qualifie

mojhsa [17]

Answer: 0.1282

Explanation:

Total number of possible outcome( total candidates) = 13

Total number of men = 13 - 8 = 5

Total number of women = 8

Number of candidates to be selected = 2

Find the probability that both are men :

Probability of 1st candidate being a male = required outcome ÷ total possible outcome = 5/13

Probability of second candidate being a male, means we now have 4 men left and a total of 12 = 4/12

Therefore, P = (5/13) × (4/12)

P = (5/13) ×(1/3) = 5/39 = 0.1282

5 0

4 years ago