Explanation:
The Journal Entry for 3 May is as shown below:-
Allowance for Doubtful Accounts Dr, $2,000
To Accounts Receivable A. Hopkins $2,000
(Being the write off is recorded)
Therefore for passing the journal entry we simply debited allowance for doubtful account and credited the accounts receivable)
Answer:
The descriptions that best characterize the young Dr. Jekyll include the following:
1. -He was famous.
2. -He was rich.
3. -He was in excellent shape.
Explanation:
He was an eccentric Dr who was researching on the possibility of discovering a drug that will help mankind. During his research, he noticed that, when ever he take a particular drug, it alters his personality and body which would bring out the darkest thoughts in him.
<em>The more he took the drug, the more him slips into darkness and destruction which always makes him sober after transforming back to his normal personality.</em>
The correct answer that would best complete the given statement above would be a STANDARD TOE BOARD. A Standard toe board <span> should measure 4 inches high, with no more than 1/4 inch clearance above the floor surface. Hope this answers your question. Thanks for posting. </span>
Answer:
1. $5000 unfavorable
2. 3000 hrs favorable
Explanation:
Fixed Overhead spending variance
Budgeted fixed overhead - Actual fixed overhead
$300,000 - $305,000
= $5,000 unfavorable
Fixed Overhead volume variance
Actual volume = actual fixed overhead / Actual fixed overhead per hr
= $305,000 / $5
= 61000 hrs
(Budgeted volume - Actual volume) * budgeted rate
64000 hrs - 61000 hrs
= 3000 hrs favorable
Answer:
2. True
Bank charges are the various fees account holders are charged in respect of maintenance of the account along with any other charges incurred in respect of specific transactions (e.g. cheque clearance charges, fund transfer charges, collection charges, etc). Bank charges are charged directly to the customer account thereby reducing the bank balance shown in the bank statement. These charges are usually not recorded by the business until the bank provides the bank statement at the end of a month which is why balance as per bank statement may be lower than the cash book balance.
