The adjusting entry that Sheridan Company will make if the Allowance for Doubtful Accounts has a credit balance of $2500 before adjustment is:
Debit Bad Debt Expense $10,000
Credit Allowance for Doubtful Accounts $10,000
Sheridan Company Adjusting Journal entry
Debit Bad Debt Expense $10,000
Credit Allowance for Doubtful Accounts $10,000
[($250,000 × 0.05) - $2,500]
[($12,500- $2,500)=$10,000]
(To record Allowance for Doubtful Accounts)
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Answer:
$187,750
Explanation:
Computation for operating income for the West Division.
OPERATING INCOME FOR THE WEST DIVISION
Sales $450,000
Less Cost of goods sold ($155,000)
Gross profit $295,000
($450,000-155,000)
Less: Salary Expense ($51,000)
Allocated rent ($56,250)
($90,000 * 11250/18,000)
West Division income $187,750
Total area of both division = 11,250 + 6,750 = 18,000 square feet
Therefore operating income for the West Division is $187,750
Answer:
internal; process
Explanation:
Sustainability programs are usually used by organization for the growth of the organization, it may be interms of risk management and others however, it has to be a continuous process for it to be achieved.
It should be noted that Sustainability programs often find their success beyond company boundaries, thus internal systems and process metrics cannot capture all of the relevant numbers.
Explanation:
Over the past several decades, advances in technology, greatly reduced the cost of making computers which resulted in the decline of the equilibrium price of computers and also resulted in increased equilibrium quantity. The reduction in the computer prices also caused an increase in the consumer surplus.
computer price down -> equilibrium price down
computer price down -> equilibrium quantity up
computer price down -> consumer surplus up
The producer surplus increases due to increase in quantity and at the same time producer surplus decreases due to decrease in price.
computer price down -> producer surplus down
computer quantity up -> producer surplus up
Answer:
$22,640
The explanation is shown below:-
Explanation:
The computation of cash flow from operating activities using the direct method is shown below:-
Direct method
Pizza International, Inc.
Statement of cash inflow
Cash flow from operating expenses
Cash received from customers $143,777
($143,951 - $174)
Cash Paid
To suppliers ($53,773)
($45,700 - $651 + $8,724)
To salaries and wages ($56,855)
For office expenses ($7,730)
($7,785 + $668 - $723)
For income tax expenses ($2,779)
($50 + $2,729)
Net cash inflow from operating
activities $22,640
It is mainly due to no depreciation expenses for cash products. Depreciation expenses do not contribute to cash outflows. Because of which company has reported large cash inflow from operations compared to near net loss.
