Answer:
total estimated cash collections = $300,050
Explanation:
estimated collections during June:
collections of credit sales from May = $257,000 x 65% = $167,050
collections from credit sales before May = $50,000
collections from credit sales during June = $332,000 x 25% = $83,000
total estimated cash collections = $300,050
the write offs and the bad debt provisions are not included in this calculation.
<span>D There is no supply or demand.</span>
Answer:
1. When searching for unrecorded liabilities, the auditors consider transactions recorded <u>after</u> year end.
<em>Auditors consider transactions recorded after year end to determine if it was supposed to be recorded in the current period. </em>
2. Accounts payable <u>confirmation</u> can be mailed to vendors from whom substantial purchases have been made.
<em>As a way to keep a document trail, creditors from whom substantial goods were bought from can be mailed a confirmation. </em>
3. To gain overall assurance as to the reasonableness of accounts payable, the auditor may consider <u>ratios</u>.
<em>Ratios such as the Payables turnover can be used to evaluate the reasonableness of Accounts payable. </em>
4. When auditors find unrecorded liabilities, before adjusting they must consider <u>materiality</u>.
<em>
They must consider if the adjustment is material or significant enough to record. </em>
5 Auditiors need to consider <u>shipping terms</u> terms for determining ownership and whether a liability should be recorded.
<em>Shipping terms need to be considered because they can tell who owns goods in transit and therefore if a liability is needed for them. Shipping terms such as FOB Shipping point mean that the business incurs the liability as soon as the seller ships the goods. </em>
The answer for the blink would be Zero-based budgets.
Answer:
d. Making the guest welcome, making the operation run correctly, keeping control operating costs.
Explanation:
The basic work of managers in the hospitality industry calls for: Making the guest welcome, making the operation run correctly, keeping control operating costs.
The hospitality industry's backbone is comprised of customer service, it is the foundation and cornerstone of all segments of the industry. A business may focus on one or all facets of hospitality but the level of success achieved is dependent on how well the managers and staff, are serving their customers.
