Answer:
Net Accounts Receivable $363300
When the allowance for uncollectibles is maintained the allowance for uncollectibles method is used in which allowance for uncollectibles is deducted from the accounts receivables.
Explanation:
If the method of allowance for uncollectibles is used the amount of allowance for uncollectibles is deducted from the accounts receivables.
Bonita Industries
Accounts Receivable $397000
Less Allowance For Uncollectible $33700
Net Accounts Receivable $363300
IF the direct write off method is used the bad debts are directly deducted from the accounts receivable.
Bonita Industries
Accounts Receivable $397000
Less Uncollectibles $33300
Net Accounts Receivable $363700
Answer:
We will not hire a security guard.
Explanation:
Data provided
Merchandise stolen cost of every hour = $25
Hourly market wage for a security guard = $33
According to the given situation, The hourly loss is $25, and the hourly cost is $33, even if the shopkeeper keeps a security guard, then the cost per hour is $33, so the store loss increases by $33 - $25 = $8, so we will not hire the security guard to maximize the profit.
Answer:
Cause of a "Prior Period Adjustment in 2025 Statement of Retained Earnings:"
A. Failure to Accrue Revenue at 12/31/24, but not 12/31/21 Depreciation Overstatement.
Explanation:
A company's failure to accrue revenue in accordance with the accrual concept and revenue recognition principle means that there is a "Prior Period Error" which must be corrected retrospectively in the financial statements (Retained Earnings). Retrospective restatement involves the correction of the error arising from the recognition, measurement, and disclosure of amounts of elements of financial statements. The restatement is done as if a prior period error had never occurred.
The employer contributes retirement account such as contributions to defined contributions plans like 401(k) plans.
<h3>What do you mean by retirement fund?</h3>
Retirement funds, also known as pension funds, are investment options that allow a person to save a portion of his or her retirement income.
These funds provide a standard source of income after retirement; a retiree receives a pension from his investment until his death.
Thus, The employer contributes retirement account such as contributions to defined contributions plans like 401(k) plans.
learn more about retirement funds here:
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