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Orlov [11]
3 years ago
6

Gekko, Inc. reported the following balances (after adjustment) at the end of 2008 and 2007.

Business
1 answer:
nevsk [136]3 years ago
6 0

Answer:

Correct answer is D, P3,900

Explanation:

Begging Allowance for doubtful account is P1,500 (96,000 - 94,500). Ending balance of Allowance for doubtful account is P3,000 (P108,000 -P105,000). We can now work back the provision for doubtful accounts that the company has made during 2008.

Beginning P1,500

Add:

Collection of written off accounts 800

Total P2,300

Less:

Written off 3,200

Total (P900)

Therefore, in order for the company to have an ending inventory of P3,000, They must have set up a provision for doubtful accounts in the amount of P3,900. Attached herewith is the T-account of allowance for doubtful accounts

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Idk never heard of this before
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3 years ago
Paris operates a talent agency as a sole proprietorship,and this year she incurred the following expenses in operating her talen
Juliette [100K]

Answer:

A) $450.

Explanation:

The computation of the total deductible amount of the expenses is as follows:

In the case of the deduction with respect to the meal cost and entertainment. Only the half of the expense would be deducted i.e. for the business meeting

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Therefore the correct option is A.

6 0
2 years ago
Presented below is the operating activities section of the statement of cash flows for Golden Consulting for 2016:
dimaraw [331]

Answer:

b. The indirect method

Explanation:

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Indirect Method Reconciles the Net Income for the Year to the Net Cash  flow from Operating Activities after adjustments of Non- Cash flow Items, and Adjustments for Working Capital Movements.

Direct Method focuses on the Cash Inflows and Outflows related to the Operating activities to Calculate the Net Cash  flow from Operating Activities.These Cash flows results from Receipts from Customers and Payments made to Suppliers and Employees

6 0
2 years ago
Judy has realized that she does not like working for others. She wants to open a business i n which she will have maximum contro
qwelly [4]

Answer:

<em>Sole proprietorship</em>

Explanation:

Judy has realized that she does not like working for others . She wants to open a business in which she will have maximum control and the least fro, government regulations . <u>Sole proprietorship</u> is best suited for Judy's needs.

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Sole proprietorship is the form of business which is easy to form  with no legal formalities. There is a secrecy in Sole proprietorship . In  Sole proprietorship the interference of the government is minimum .Sole proprietorship facilitate quick decision making as he /she does not need to concern with others. In the sole proprietorship , the individual need not share his profit with other person . The overhead cost in Sole proprietorship is less.

In you need not to work under anyone, you just need to open it and run according to you , you have full control over it , as no one can say anything to you .

3 0
3 years ago
One column of numbers consists of 28, 42, and 14. When the digits of the
san4es73 [151]

Answer:

the correct answer is D

D. If the end result from the second column is not 3, then the sum of the

numbers in the first column equal to the sum of the numbers in the

second column.

Explanation:

since e are given the first column operation of the numbers. The operational process is repeated on the  number of the second column we can then conclude by choosing option <em>D if the end result from the second column is not 3, then the sum of the numbers in the first column is equal to the sum of the numbers in the </em>

<em>second column.</em>

3 0
3 years ago
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