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vekshin1
3 years ago
12

A company has prepared the operating budget and the cash budget and is now preparing the budgeted balance sheet. The balance of

Accounts Receivable can be obtained from the ________.
Business
1 answer:
GrogVix [38]3 years ago
6 0

Answer:

b) Schedule of cash receipts from customers

Explanation:

Selling and administrative expenses budget cannot provide the balance of an asset account. Therefore, option A is wrong.

Inventory, purchases, and cost of goods sold budget provide the information of inventory used and purchase of raw materials. Therefore, option C is wrong.

Capital expenditures budget provides non-correct related information. Therefore, option D is wrong.

As the company collects money from customers (Accounts Receivable), therefore, we can find it from the schedule of cash receipts from customers. Therefore, option B is the answer.

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Oriole Company uses a periodic inventory system. Details for the inventory account for the month of January 2017 are as follows:
Marta_Voda [28]

Answer:

The number of units sold by the company during January 2017 is 410.

Explanation:

Note: The data in the question are merged together. They are therefore sorted before answering the question as follows:

                                Units         Per unit price         Total

Balance, 1/1/2017        340                  $6.0              $2040

Purchase, 1/15/2017    170                     ..6                  1003

Purchase, 1/28/2017    170                    ..6                  1054

The explanation of the answer is now given as follows:

Total units available for sales during January 2017 = 340 + 170 +170 = 680

Units on hand at end of the month (1/31/2017) = 270

Number of units sold by the company during January 2017 = Total units available for sales during January 2017 - Units on hand at end of the month (1/31/2017) = 680 - 270 = 410

Therefore, the number of units sold by the company during January 2017 is 410.

5 0
2 years ago
Why would a construction manager require fall guards to be installed in a high-rise construction project?
stellarik [79]

Answer:

to comply with Occupational Safety and Health Administration (OSHA) procedures

Explanation:

OSHA is occupational safety and health administration. OSHA is mandated to publish and enforce regulations that safeguard employees' health and safety in the workplace.

Fall guards are elected in high places to prevent employees from falling to the ground. They are safety measures that employers have to put in place to prevents accidental falls and subsequent injuries. Fall guards in a high place are one of the OSHA requirements.

4 0
3 years ago
Matt Shaw buys 100 shares of common stock for $8,000 in January. The value of the stock fluctuates in a narrow range (averaging
jekas [21]

Answer:

a. $8,200

Explanation:

The same accounting principles would be applied to non-profit entities while recording their assets as applied to other entities.

Non-profit entity would record its assets at fair value same as assets are recorded by other entities.

3 0
3 years ago
Aspen Company estimates its manufacturing overhead to be $515,000 and its direct labor costs to be $515,000 for year 2. Aspen wo
Step2247 [10]

Answer:

COGS    3807 debit

FG          7896 debit

WIP         2397 debit

  Factory Overhead  14,100 credit

--to record the underapplication of overhead--

Explanation:

overhead rate:

\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate

$515,000 overhead /  515,000 labor cost = $1

each labor cost generates a dollar of overhead.

221,400 x 1 =   221,400 overhead in COGS

459,200 x 1 = 459,200 overhead in Finished Goods

139,400 x 1 =   139,400 overhead in WIP inventory

Total applied  820,000

Actual            805,900

Underapplied    14,100

Now we weight each concept and determiante the portion underapplocated in each concept

\left[\begin{array}{cccc}Item&Value&Weight&Allocated\\COGS&221400&0.27&3807\\FG&459200&0.56&7896\\WIP&139400&0.17&2397\\&&&\\Total&820000&1&14100\\\end{array}\right]

4 0
3 years ago
Which of the following is a disadvantage of the corporation form of ownership?
Hoochie [10]

Answer:

Option C, Double taxation on profits and individuals

Explanation:

The disadvantages of the corporation form of ownership are as follows -

a) It takes lot of time and hence is time consuming

b) The taxation gets double

c) Also, the formalities/protocols are very tough

Hence, the option C is correct

5 0
3 years ago
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