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3 years ago

Establishing an accounts receivable billing policy and procedure includes determining the

1 answer:

4 0

In terms of establishing an account receivable billing policy and procedure includes the determining or knowing the number the days that has been done between billings because this is essential to know if the policy is upheld and proper procedures is being done.

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At year-end, the perpetual inventory records of Anderson Co. indicate 60 units of a particular product in inventory, acquired at

omeli [17]

Answer:

A. Debiting Cost of Goods Sold $7,000

Explanation:

The LIFO is a method used to account value for inventory. Under the method, the last item of inventory purchased is the first one sold.

At year-end, the perpetual inventory records of Anderson Co. indicate 60 units of a particular product in inventory, but a physical inventory taken at year-end indicates only 50 units of this product actually are on hand. So 10 units of the product was shrinkage.

The company should debit Cost of Goods Sold to record this inventory shrinkage.

Anderson Co. use LIFO method, the amount shrinkage product:

10 x $700 = $7,000

6 0

3 years ago

What does the E in the personality type abreviations stand for

alina1380 [7]

Answer:

Extraversion / Extravert

Explanation:

This means the persons personality is outgoing and open to the world. They do not keep to themselves but instead are usually unreserved.

I hope this helps!

-TheBusinessMan

3 0

3 years ago

Suppose the current unemployment rate is 5%, the labor force is 400 million people, the labor force participation rate is 80% an

Reika [66]

Answer:

20,000,000= unemployed people

Explanation:

Giving the following information:

Suppose the current unemployment rate is 5%, the labor force is 400 million people, the labor force participation rate is 80% and the working-age population is 500 million people.

The unemployment rate is the number of people of working age, disposed to work and looking for a job.

Labor force rate= unemployed people/ labor force

0.05= unemployed people/ 400,000,000

400,000,000*0.05= unemployed people

20,000,000= unemployed people

7 0

3 years ago

During 2020, Flint Corporation reported net sales of $5,490,000 and net income of $1,320,000. Its balance sheet reported average

koban [17]

Answer:

The asset turnover is 3.66 times

Explanation:

Asset Turnover is the efficiency rate of the assets of the business to generate revenue for the business. It shows how efficiently the assets of the business are used to generate revenue for the business.

Formula for Asset turnover is as follow

Asset Turnover = Net sales / Average total assets

Asset Turnover = $5,490,000 / $1,500,000

Asset Turnover = 3.66 times

It means that the sale for the period is generated to 3.66 times of average total asset of the business.

5 0

2 years ago

What percentage does a bank expect you to put down on a house

myrzilka [38]

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3 years ago

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