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ad-work [718]
3 years ago
13

Myrtle Beach Pro-Shop receives information that requires the company to increase its expectations of uncollectible accounts rece

ivable. Which of the following does not occur on the company’s financial statements?a. Bad debt expense is increasedb. Accounts receivables (gross) is reducedc. Net income is reducedd. The allowance account is increasede. None of the above
Business
1 answer:
Lera25 [3.4K]3 years ago
3 0

Answer:

b. Accounts receivables (gross) is reduced

Explanation:

As we know that

The journal entry to record the bad debt expense is  

Bad debt expense A/c Dr

  To Allowance for doubtful debts

(Being allowance of uncollectible accounts are recorded)

By passing this journal entry, both bad debt expense and the allowance for doubtful debts which result in a decrease in the net income and the balance of account receivable but the gross of account receivable would remain the same.

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Zander Inc. uses a job-order costing system in which any underapplied or overapplied overhead is closed to cost of goods sold at
Margarita [4]

Answer:

Find attached complete question:

The correct option is A,$ 746,200

Explanation:

The total standard costs for the whole items of inventory completed in the month of July is the sum of the beginning balance of inventory plus direct materials costs, direct labor cost as well as manufacturing overhead cost applied.

Total cost of completed units=$44,100+$564,900+$195,300+$315,000=$ 1,119,300.00  

standard cost per unit=$1,119,300.00/21000=$53.3

Cost of goods sold(unadjusted)=$53.3 *14,000=$ 746,200.00  

6 0
3 years ago
Which economic system has the most government control
Hatshy [7]
The answer you are looking for is a planned economy

4 0
3 years ago
A company is preparing its cash budget for the coming month. All sales are on account. Given the following: Beginning Balances B
iVinArrow [24]

Answer:

$56,000

Explanation:

Given the above information, we will calculate first the total cash flow.

Total cash flow = Opening cash receivable + Sales - Ending cash receivables

= $196,000 + $880,000 - $226,000

= $850,000

Ending cash balance = Opening cash balance + Total cash flow - Cash disbursement

= $146,000 + $850,000 - $940,000

= $56,000

6 0
3 years ago
The federal reserve's goal in managing the money supply is to ensure that money retains its value.
sattari [20]
The answer is B: False The Federal's Reserve goal is t<span>o provide the nation with a safer, more flexible, and more stable monetary and financial </span>system<span>.</span>
6 0
3 years ago
Bayside Marina just announced it is decreasing its annual dividend from $1.48 per share to $1.45 per share effective immediately
sleet_krkn [62]

Answer:

the stock price <u>has decreased in the same proportion as the dividend. </u>

Explanation:

Since we are told that the dividend yield remained the same, and the dividend decreased by 2.03%, we know that the price of the stock decreased by 2.03%.

= [($1.45 - $.148) / $1.48] x 100 = -2.03%

5 0
3 years ago
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