Answer:
The correct option is B,115.4 days as shown in the calculation below.
Explanation:
The formula for days sales in inventory is given as:
Days sales in inventory=ending inventory/ cost of goods sold*365 days
ending inventory is $3,389 million
costs of good sold is $10,721 million
days sales in inventory=$3,389 million/$10,721 million*365 days
=115.4 days
The implies the days inventory stays in the business prior to being sold to customers, a days sales in inventory of 115.4 days may suggest slow-moving or obsolete inventory that require that management should pay close attention to.
Answer: D
Explanation: Assets = Liabilities + Owners Equity
Answer and Explanation:
The adjusting entry is as follows:
Supplies expense ($1,823 + $4,344 - $286) $5,881
To supplies payable $5,881
(being the supplies expense is recorded)
Here the supplies expense is debited as it increased the expense and supply payable is credited as it also increased the liabilities
Answer:
B) Coercive power
Explanation:
Coercive power refer to a power in which the organization forces the employees to do the work as per the given guidelines or instructions and if this things are not happened so they punish the employees if this is not be done. It can be in terms of firing, written warnings, etc
Therefore the given situation represents the coercive power example and the same is to be considered
Answer: The account has a normal credit balance and is reported on the balance sheet.
Explanation:
The allowance for doubtful accounts refers to the amount of account receivable that the company believes will not be paid by the customers. It is referred to as the bad debt reserve as well.
The allowance for doubtful accounts reduces the accounts receivable. It also has a normal credit balance and is reported on the balance sheet.