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Bogdan [553]
4 years ago
8

The allowance method for uncollectible accounts is required by gaap because it conforms to the matching principle.

Business
1 answer:
alexdok [17]4 years ago
7 0
The answer would be TRUE because that is the definition, meaning, and purpose of the whole allowance method process since it goes to uncollectible accounts as a process.
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Cullumber Products plans to produce 10200 units in January. Each unit requires 6 pounds of plastic, which costs $5 per pound. Wh
yKpoI14uk [10]

Answer:

Standard direct material cost= $306,000

Explanation:

Giving the following information:

Cullumber Products plans to produce 10,200 units in January. Each unit requires 6 pounds of plastic, which costs $5 per pound.

<u>First, we need to calculate the standard pounds needed:</u>

Standard pounds of plastic= 10,200*6= 61,200 pounds

<u>Now, the standard cost:</u>

Standard direct material cost= 61,200*5

Standard direct material cost= $306,000

3 0
3 years ago
A portfolio is composed of two stocks, A and B. Stock A has a standard deviation of return of 19%, while stock B has a standard
tangare [24]

Correlation coefficent =  0.5356

<u>Explanation:</u>

Portfolio variance = (Standard of stock A * Weightage of stock A)2 + (Standard of stock B * Weightage of stock B)2 + 2 * (Standard of stock A * Weightage of stock A) * (Standard of stock B * Weightage of stock B) * Correlation coefficent.

0.034=(19 \% * 0.70)^{2}+(25 \% * 0.30)^{2}+2 * 19 \% * 0.70 * 25 \% * 0.30 * Correlation coefficent

By calculating the above equation, we get,

=> Correlation coefficent =  0.5356

3 0
3 years ago
-transposition
Triss [41]

Accounting error are errors committed in accounting, which are not intentional.

<h3>What is accounting error?</h3>

These are unintentional errors committed in accounting, which are often corrected when spotted.

Matching each definition to each example is shown below:

  1. Ethan records $1,000 as a rent expense; however, the actual rent paid was $1,500  Original entry
  2. Ethan records stationery expenses as $251, but it should have been $215    Transposition
  3. Ethan records salaries of $5,000 as credits instead of debits. Reversal of entries
  4. Ethan made a subtraction error while analyzing the profit on the sale of an asset.  Calculation
  5. Ethan completely overlooked stationery expenses of $115.  Omission

Learn more about accounting errors here : brainly.com/question/25671660

#SPJ1

6 0
3 years ago
_____ is a financial asset that cannot be directly used as a medium of exchange but can be readily converted into cash or checka
shusha [124]

Answer: The correct answer is "near moneys".

Explanation: <u>near money is a financial asset that cannot be directly used as a medium of exchange but can be readily converted into cash or checkable bank deposits.</u>

It is a term that in finance is used to refer to an asset that despite not being usable money as a medium of exchange, has a high degree of liquidity, that is, it has the facility to quickly become cash.

3 0
3 years ago
Two power plants provide power to Chapel Hill residents: plant UNC and plant Duke. Both plants burn coal to produce electricity,
Sveta_85 [38]

Answer:

a. The socially efficient levels of abatement for UNC power plant is 10.

Explanation:

Note: See the attached Microsoft word file for the calculations of the anwers above.

7 0
3 years ago
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