Solution:
Given,
Fisher plumbing supply Co. had sales of $2,780,000
Wrote off $16,000 of accounts as noncollectable
Net income of $120,000
Now,
Expense under direct write off: 16,000
Expense under Allowance: ($2,780,000*1%) = 27,800
which means expense is understated by = 27,800 - 16,000 = 11,800.
so, the net income under allowance would be 120,000 -11,800 = 108,200
Answer:
C) $201,760
Explanation:
To compute the amount of cash proceeds, we have to multiply the bonds face value with the issued price percentage.
Since only issue price is given, so we assume it is in percentage form because the number of shares is not given in the question. So, we assume this.
In mathematically,
Cash proceeds = Face value × 0.97
= $208,000 × 0.97
= $201,760
Answer:
<em>1. Washburn is not required to make any accounting adjustments.</em>
Explanation:
<em>The treatment which will be appropriate for the accounting will be that the </em><em>Washburn will not require to make any accounting.</em>
Because Washburn has already spent lots of money in purchasing the new technology, and we can see that the company is using a straight-line basis. In straight-line basis, it comes from a division of the cost of asset's difference and its value that is been expected.
So if the company has used straight-line basis then the company has already calculated the amount and the company will not require to make any accounting.
<u>Answer: </u>Option B
<u>Explanation:</u>
Indirect costs are cost incurred by the company which does not involve in the production of the goods. Indirect costs are the salaries, wages, depreciation and maintenance costs. If the indirect costs are calculated on monthly basis then it would show a higher value for the month of February as there are only 28 days in this month.
Indirect costs are allocated according to the overhead costs. Indirect costs cannot be allocated based on the product or the service and they are completely taken as full for calculation. Indirect costs are segregated based on their utilities such as rent or salary.
The amount of movement on a fault, or offset, is related to the size of an earthquake.
<h3>What is earthquake?</h3>
The term "earthquake" is used to describe sudden changes in the earth's tension as a result of volcanic activity, magmatic activity, or other sources, as well as the resulting ground shaking and transmitted seismic energy.
Even though the tectonic plates are always moving slowly, friction makes their edges impenetrable. When the stress on the edge is greater than the friction, waves of energy are released, which travel through the earth's crust and cause the shaking we feel.
Thus, it is offset.
For more details about earthquake, click here:
brainly.com/question/1296104
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