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3 years ago

For each of the items listed below, indicate whether the item would be reported in the

Business

1 answer:

tresset_1 [31]3 years ago

4 0

Answer:

Note: The complete question is attached below as picture

Indication of how they should be reported are as follow:

1) Budgetary Schedules : FINANCIAL SECTION AS RSI (RSI)

2) Letter of Transmittal : INTRODUCTORY SECTION (I)

3) Legal debt limitations and debt margin : STATISTICAL SECTION (S)

4) A description of government's financial conditions : FINANCIAL SECTION AS MD&A (MDA)

5) Property tax collection and levy information : STATISTICAL SECTION (S)

6) Defined benefit pension plan schedules : FINANCIAL SECTION AS RSI (RSI)

7) Financial highlights of the fiscal year : FINANCIAL SECTION AS MD&A (MDA)

8) Auditors report : FINANCIAL SECTION (F)

9) 10-year data trend : STATISTICAL SECTION (S)

10) Notes to the financial report : FINANCIAL SECTION (F)

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Johnson Company calculates its allowance for uncollectible accounts as 10% of its ending balance in gross accounts receivable. T

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Answer:

<em>Incomplete question is "2. What journal entry should Johnson record to recognize bad debt expense for 2021? 3. Assume Johnson made no other adjustment of the allowance for uncollectible accounts during 2021. Determine the amount of accounts receivable written off during 2021 4. If Johnson instead used the direct write-off method, what would bad debt expense be for 2021?"</em>

1. Gross accounts Receivable = Allowance Account balance at beginning / 10%

= $30,000 / 10%

= $300,000

2. Year Account Title Debit Credit

2021 Bad debt expense $105,000

($500,000*10% + $55,000)

To Allowance for Doubtful Accounts $105,000

3. Accounts receivable written off = Beginning balance of Allowance Account - Ending Balance of Allowance account

= $30,000 - (- $50,000)

= $30,000 + $50,000

= $80,000

4. Bad debt expense for 2021 (direct write off method) = Amount written off = $80,000

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3 years ago

Which activity is an example of a time-based goal? A. Catherine plans to learn to play the guitar in the next few years. B. Davi

frez [133]

Answer: C. Farah wants to obtain her college degree in four years

A time bound goal has a specific, measurable time-frame within which a specific goal has to be achieved; it can also set as a specific target to be achieved at periodical intervals.

Amongst the options given, only option C has a specific, measurable and well-defined time frame within which a specific goal is set to realized.

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3 years ago

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Ruis Corporation, a publicly held corporation, has thirty-five members on its board of directors. In order to conduct business e

Oliga [24]

Answer:

illegal

Explanation:

According to my research on the rules or regulations that a corporation must follow, it can be said that based on the information provided within the question what was done is illegal. Based on the Sarbanes-Oxley Act every entity titled as a corporation is required by law to have an audit committee. Since one was not created for the Ruis Corporation it is technically an illegal corporation.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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3 years ago

Which of the following should employers do to actively prevent workplace hazards? A. Completely eliminate all possible hazards.

wlad13 [49]

Your answer is D hope this helps

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3 years ago

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Paulis Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-d

emmainna [20.7K]

Answer:

$14,400

Explanation:

The computation of the net operating income in the planning budget is shown below:

= Total revenue - total fixed cost - total variable cost

= (4,800 × $31.30) - $21,600 - (4,800 × $23.80)

= $150,240 - $21,600 - $114,240

= $14,400

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2 years ago