Answer:
bill of lading
Explanation:
Bill of lading is a legal document issue when goods are transferred from one place to another. It is issued by the freight carrier to the person who is shipping the goods. This document contains details such as which goods are shipped, quantity, details of destination. It also serves the purpose of shipment receipt, once the goods are delivered at mentioned destination in the document. To make sure that requisite goods has been correctly received the destination and shipped correctly from the shipper, the document is signed by authorized person from the receiver, the shipper, and the carrier.
The objective of such document is
- preventing theft of goods.
- Create transparency of transaction.
- Serves as a legal proof in case of any conflict.
Answer:
Which of the following activities of a finance manager determines the types of assets the firm holds?
C. investment decisions
Explanation:
Select the type of assets in which the funds will be invested by the firm is termed as the investment decision
Answer:
b. decrease no effect
Explanation:
When the treasury stock is repurchased and at a premium. That is the price more than the par value, the excess is debited to the additional paid in capital account as this is the account used to fund the additional amount required to pay the differential.
Retained earnings on the other hand are unaffected by this transaction as long as the company has enough funds in the paid in capital account to complete the transaction.
Total paid in capital will decrease
Retained earnings will have no effect
Hope that helps.
Answer:
A. Dr Bad Debt Expense$5,350
Cr Allowance for Doubtful account$5,350
B. Dr Bad Debt Expense $2,800
Cr Allowance for Doubtful account$2,800
Explanation:
Preparation of the journal entry for the estimated bad debts
A. Based on the information given the Journal entry for estimated bad debts assuming that the allowance is to provide for doubtful accounts will be:
Dr Bad Debt Expense$5,350
Cr Allowance for Doubtful account$5,350
[(4%*90,000)-1,750]
B. Based on the information given the Journal entry for estimated bad debts assuming that the allowance is to provide for doubtful accounts will be:
Dr Bad Debt Expense $2,800
Cr Allowance for Doubtful account$2,800
[(5%*90,000)-1,700]
Answer:
(a) rate variance = $ 5,234, Adverse
(b) time variance = $ 6,360, Favourable
(c) total cost variance = $1,126, Favourable
Explanation:
(a) rate variance,
rate variance = (Standard Rate - Actual Rate) × Actual Hours
=( $12.00- $12.20) × 26,170 hours
= $ 5,234, Adverse
(b) time variance, and
time variance = (Standard Hours - Actual Hours) × Standard Rate
= (26,700 hours - 26,170 hours) × $12.00
= $ 6,360, Favourable
(c) total cost variance
total cost variance = rate variance + time variance
= $ 5,234, Adverse + $ 6,360, Favourable
= $1,126, Favourable
