Mike could leave lon behind, walk lon home, offer to pay for a taxi or finally he could stay with him.
Cash may not include <u>accounts receivable</u>. The Option C is correct.
<h2>What is
Cash?</h2>
Cash means a money in the physical form of currency such as banknotes and coins. In accounting, cash is a current assets comprising currency or currency equivalents that can be accessed immediately or near-immediately.
The amount of the adjustment for uncollectible accounts would be $14,060. The Option D is correct.
<h2>What is an
uncollectible accounts?</h2>
An accounts uncollectible refers to those receivables, loans or other debts that have virtually no chance of being paid. An account may be called an uncollectible for many reasons such as debtor's bankruptcy, an inability to find the debtor, fraud on the part of the debtor or lack of proper documentation to prove that debt exists.
The adjustment for uncollectible accounts is computed as follows:
= (Accounts receivable * Rate of uncollectible accounts) - Allowance for uncollectible accounts
= ($246,000 x 6%) − $700
= $14,760 - $700
= $14,060
Read more about uncollectible accounts
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Answer:
$50,400
Explanation:
To do this first start by multiplying .12 x 35,000. The answer should be $4,200. After this multiply 4,200 by 12 in order to get the amount of money earned over a 12 month period. This will give you $50,400.
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For the purpose of accounting, there are three types of expenditure.
1) Capital Expenditure
It is the amount incurred
in acquiring long term assets like land, buildings, equipments (which
are used for the purpose of earning revenues). These costs are reflected
in the account of Property, Plant and Equipment.
2) Revenue
Expenditure
It is the cost incurred in one accounting year wherein the benefits
are also enjoyed in the same period only. It does not increase the
earning capacity of the business, instead, it maintains the existing
earning capacity of said business. This expenditure is recurring in
nature like salaries and wages, selling and distribution expenses.
3) Deferred
Revenue Expenditure
It is a revenue Expenditure which has been incurred
within the current accounting year but its benefit will be extended to a
number of years. This cost is charged to the Profit and Loss account.
Example of this is advertising cost.
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