Answer:
$327,000
Explanation:
Stocks owned by the Gathering Company after repurchasing = $48,000
Cash paid for the purchase of land = $124,000
Amount of issued bonds payable = $375,000
Now,
Net cash provided by financing activities for the year would have been
= Amount of issued bonds payable - Stocks owned by the Gathering Company
= $375,000 - $48,000
= $327,000
Answer:
(a) reinvesting company profits in updated technology
Explanation:
Investments in capital refer to spending money to acquire physical assets for use in a business. The acquired assets are expected to assist a company to generate revenue in many financial periods. Investments in capital involve huge sums of money. Businesses may need to borrow to finance investments in capital.
Reinvesting company profits in updated technology is an example of investment in capital. The updated technology is an asset with a useful life of more than one year. It will help generate revenues into the future and make the business more competitive in the mar
The adjusting entry to record revenue for services the seller has performed but not yet collected requires: A debit to Accounts Receivable and credit to Service Revenue.
<h3>Journal entry</h3>
The appropriate journal entry the record revenue for services the seller has rendered but not yet collected will includes debiting account receivable and crediting service revenue.
Adjusting journal entry
Debit Accounts Receivable
Credit Service Revenue
Inconclusion the adjusting entry to record revenue for services the seller has performed but not yet collected requires: A debit to Accounts Receivable and credit to Service Revenue.
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In the production cost report in process costing, the total units that were in production in a manufacturing department are reconciled to those completed and transferred out and those still in progress, and the production costs incurred are allocated between those units using the equivalent units of production concept.
What is weighted average method?
- The weighted average takes into consideration the relative significance or recurrence of a few variables in a information set.
- A weighted average is in some cases more precise than a straightforward average. In a weighted average, each information point esteem is increased by the doled out weight which is at that point summed and separated by the number of information points.
- For this reason, a weighted average can progress the data's accuracy. Stock financial specialists utilize a weighted average to track the fetched premise of offers bought at changing times.
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Answer:
What is allowance for doubtful debt?
This represents management's estimate of the amount of accounts receivable that will not be paid by customers. They are amount owed by debtors, whose likelihood of collection is not certain.
1 Bad debts expense Dr ($18,000 × 0.25%) $45
To Allowance for Doubtful Accounts $45
(Being the bad debt expense is recorded)
2. Bad debts expense $45
($72 - $27)
To Allowance for Doubtful Accounts $45
(Being the bad debt expense is recorded)
3 Bad debts expense $105
($72 + $33)
To Allowance for Doubtful Accounts $105
(Being the bad debt expense is recorded)
4 Allowance for Doubtful Accounts $15
To Accounts Receivable $15
(Being the allowance for doubtful accounts is recorded)
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Explanation: