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3 years ago

Which of the following are elements you should include in meeting minutes? Check all that apply.

Business

1 answer:

GREYUIT [131]3 years ago

6 0

Answer:

The correct answer are A and D.

Explanation:

Meeting minutes is the one which involve the name of the group, time as well as date and the place of the meeting, names of the absentees and attendees, record and reports of old business as well as new business, approval of previous minutes, the precious wording of motions which comprise of action taken and vote and the person signature and name.

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Suzuki Supply reports the following amounts at the end of 2021 (before adjustment). Credit Sales for 2021 $ 260,000 Accounts Rec

Amiraneli [1.4K]

Answer:

1. Suzuki estimates 12% of receivables: Net income (before taxes) in 2021 decreases by $5,500 and total assets in 2021 decreases by $5,500

2. Suzuki estimates 3% of credit sales: Net income (before taxes) in 2021 decreases by $7,800 and total assets in 2021 decreases by $7,800

Explanation:

1. Suzuki estimates 12% of receivables

Bad debts are estimated: 12% x $55,000 = $6,600

Before adjusting, Allowance for Uncollectible Accounts balance of $1,100 (credit).

Bad debts expense = $6,600 - $1,100 = $5,500

The entry will be made:

Debit Bad debts expense $5,500

Credit Allowance for Uncollectible Accounts $5,500

Net income (before taxes) in 2021 decreases by $5,500 and total assets in 2021 decreases by $5,500

2. Suzuki estimates 3% of credit sales

Bad debts are estimated: 3% x $260,000 = $7,800

The company uses the percentage of sales method.

Bad debts expense = $7,800

The entry will be made:

Debit Bad debts expense $7,800

Credit Allowance for Uncollectible Accounts $7,800

Net income (before taxes) in 2021 decreases by $7,800 and total assets in 2021 decreases by $7,800

7 0

2 years ago

Three years ago, you invested $3,350.00. Today, it is worth $4,100.00. What rate of interest did you earn

Anastasy [175]

Answer:

6.97%

Explanation:

the formula to be used is

The formula for calculating future value:

FV = P (1 + r)^n

FV = Future value

P = Present value

R = interest rate

N = number of years

$4,100.00 = $3,350.00 x ( 1 + r)^3

divide both sides of the equation by $3,350.00

$4,100.00 / $3,350.00 = ( 1 + r)^3

1.223881 = ( 1 + r)^3

find the cube root of both sides

1.069661 = 1 + r

r = 6.97%

7 0

3 years ago

Saira, Inc. has the following income statement (in millions): SAIRA, INC. Income Statement For the Year Ended December 31, 2017,

AysviL [449]

Answer:

60%

Explanation:

To calculate the percentage assigned to cost of goods sold , we should use the formula:

$=\frac{Cost Of Goods Sold}{Sales}$

$= \frac{180}{300}$

$= 0.60$ = 60%

Therefore, the percentage assigned to Cost of goods sold is 60%

5 0

3 years ago

During the annual fundraising drive, the Cancer Society raised $900,000 in pledges of financial support for their general operat

mylen [45]

Answer:

The amount to be reported as net amount of revenue in the current year from the pledge drive is $870,000 option B

Explanation:

The net amount amount of revenue the society should recognize in the current year from this pledge drive is the actual collected plus the remainder of the pledge which is $300,000 minus the provision for uncollectible pledge i.e 10%*$300,000

The net amount of revenue=$600,000+$300,000-(10%*$300,000)=$870,000

The correct option is B,net amount of revenue of $870,000 recognized

6 0

2 years ago

Which category would be the combination of employee benefits in payment for under

Bess [88]

The category would be,

1.) House Rent allowance

2.) Medical Allowance

3.) Conveyance Allowance

4.)Basic Salary

8 0

2 years ago