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3 years ago

What are the two serious problems of traditionalist account?

2 answers:

6 0

Problems with traditional accounting practices include inaccurate and ineffective performance measurement on businesses operating in non-conventional ways. Over time, traditional accounting practices need to adjust to match changing characteristics of the business they measure.

anzhelika [568]3 years ago

3 0

Answer:

math promlem and science problem

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On January 1, Wei company begins the accounting period with a $40,000 credit balance in Allowance for Doubtful Accounts. On Febr

faltersainse [42]

Answer:

The Journal entries are as follows:

(a) On February 1,

Allowance for doubtful accounts Dr. $8,800

To Account receivable-Oakley Co $1,900

To Account receivable-Brookes Co $6,900

(To record write off)

(b) On June 5,

(i)

Account receivable-Oakley Co. Dr. $1,900

To Allowance for doubtful accounts $1,900

(To record amount reinstated)

(ii)

Cash A/c Dr. $1,900

To Account receivable-Oakley CO $1,900

(To record cash received)

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3 years ago

Calculating the Amount for a Home Equity Loan. A few years ago, Michael Tucker purchased a home for $100,000. Today the home is

e-lub [12.9K]

Answer:

The maximum amount that Michel can borrow is 70,000 dollars.

Explanation:

Please see attachment .

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3 years ago

Tano issues bonds with a par value of $180,000 on January 1, 2016. The bonds' annual contract rate is 8%, and interest is paid s

Sauron [17]

Answer:

The discount on the bonds issuance is $9,138.00

Explanation:

discount on bonds at issuance=bonds face value-bonds cash proceeds

bonds face value is $180,000

bonds cash proceeds =$170,862

Discount on bonds at issuance=$180,000-$170,862

Discount on bonds at issuance=$9,138.00

The necessary journal entries to record the bonds issuance are follows:

Dr Cash $170,862.00

Dr discount on bonds issue $9,138.00

Cr Bonds payable $180,000

The discount on the bonds would amortized over relevant years

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3 years ago

The total manufacturing cost variance consists of a.direct materials cost variance, direct labor rate variance, and factory over

Lostsunrise [7]

Answer: The total manufacturing cost variance is made up of direct material cost variance, direct labor cost variance and factory overhead cost variance. (Option C).

Explanation:

Some of the goals of manufacturing companies are to increase company’s revenue and profit. To achieve this, a company needs to know how to manage its costs and these may cause variances in manufacturing.

The total manufacturing cost variance is made up of direct material cost variance, direct labor cost variance and factory overhead cost variance. These costs are the differences between the actual cost incurred and the set cost. These variances help managers to know if the company is meeting up to the required standard.

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3 years ago

Sandy earned a salary of $50,000 last year. Her parents gave her a car valued at $23,000 for her birthday. In addition, she earn

IgorLugansk [536]

Answer:

$51,200

Explanation:

Gross income computation includes all forms of income such as wages, rents, royalties, dividend etc. However, gifts and inheritances are not considered as a part of the gross income.

Therefore, Sandy's gross income consist of her salary, and the interest income

Sandy's Gross income = 50000 + 1200

= $51,200

The inheritance of her grandmother's estate and car gift are not included as a part of Sandy's gross income.

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3 years ago

What are the two serious problems of traditionalist account?​

What are the two serious problems of traditionalist account?