Answer:
The Journal entry with their narrations is shown below:-
Explanation:
The Journal entry is shown below:-
Cash Dr, $1,200
Notes Receivable Dr, $2,800
To Accounts Receivable -R. Roy $4,000
(Being office supply of Vikram is recorded)
Therefore for recording the office supply we simply debited cash and notes receivable and credited the accounts receivable
Answer:
Sales less variable production, variable selling, and variable administrative expenses.
Explanation:
On a contribution margin income statement the variable administrative and variable selling are considered as variable cost and used to determinate the contribution margin.
Contribution margin =
sales revenue - total variable cost
the fixed cost are listed below the contriution,
once subtracted from the contribution, the rest is the net income.
Answer:
Entries are given below
Explanation:
DATA:
Opening Balance in the allowance for doubtful debt = $18,100
During 2020 Pharoah company wrote off accounts totaling 12,900
Entry DEBIT CREDIT
Allowance for Doubtful Accounts $11,800
Accounts Receivable $11,800
At December 31, 2020, an aging schedule indicated that the balance in Allowance for Doubtful Accounts should be $23,700
Entry DEBIT CREDIT
Bad debt expense $17,400
Allowance for doubtful debt $17,400
Working
Balance before adjustment = $18,100 - $11,800
Balance before adjustment = $6,300
After Aging schedule indication
Adjustment = $23,700 - 6,300
Adjustment = $17,400
Answer:
a. gross income test
Explanation:
because quailfying children must pass the relationship, age support, residence tests.However,there is no requirement relating to gross income for purposes of the qualifying child test.
Answer:
1. Executive Information System (EIS).
2. Corporate Portal.
3. Intranet.
Explanation:
Information technology (IT) can be defined as a set of components or computer systems, which is used to collect, store, and process data, as well as dissemination of information, knowledge, and distribution of digital products.
An information technology (IT) interacts with its environment by receiving data in its raw forms and information in a usable format.
Information technology (IT) has significantly helped to improve both internal and external access and sharing of information between two or more business firms and individuals. Basically, there are three (3) main kinds of information technology (IT) which allow informations to be accessed and shared internally among employees; executive information systems (EIS), intranets, and portals.
1. Executive Information System (EIS): it assist managers working in an organization to monitor and analyze organizational performance. An Executive information system is also referred to as an Executive support system and it can be defined as a management support system that enhances and supports all of the senior executive information and decision-making process.
2. Corporate Portal: it's a hybrid system that uses a web address (uniform resource locator-URL) to give employees access to customized information and specialized transactions with respect to an organization.
3. Intranet: it's an internal company network which is private and provides employees with easy access to information.
