Answer:
The answer is given below;
Explanation:
Accounts Receivable-P. Moore Dr.$57,000
Bad Debt Expense Cr.$57,000
Firstly the write off made on Oct-1 will be reinstated to amount being collected from P.Moore as above.
Cash Dr.$57,000
Accounts Receivable-P.Moore Cr.$57,000
In this journal entry, we have recorded collection of cash from customer
Answer:
Explanation:
Farmer:
Total cost of production of farmer = number of bushel × cost of per bushel
= 119 × $3
= $357
Total revenue of farmer = price × quantity sold
= $5 × 119
= $595
Total profit of farmer = Total revenue - Total cost
= 595 - 357
= 238
Firm F:
Total cost of production of firm F = pounds of flour × cost of per pound
= 51 × $6
= 306
Total revenue of firm F = price × quantity sold
= $10 × 45
= 450
Total profit of Firm F = Total revenue - Total cost
= 450 - 306
= 144
A managerial accounting report that presents predicted amounts of the company's revenues and expenses for the budget period is called a: Budgeted income statement.
A budget income statement (sometimes called a budget income statement) is a document that helps you estimate and evaluate your company's income and expenses. This is the planning tool that many companies create at the beginning of the year when they create and finalize their annual budget.
A budget income statement lists estimated income, expenses, and profits for a specific period. Also known as Profit and Loss Forecast, this financial report is based on projections rather than historical data. In general, the company's past financial results and next year's budget are taken into account.
Learn more about Budgeted income statement here: brainly.com/question/22850896
#SPJ4