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tigry1 [53]
3 years ago
11

Cost behavior refers to the methods used to estimate costs for use in managerial decision making. True False

Business
1 answer:
bazaltina [42]3 years ago
8 0

Answer:

True

Explanation:

It's A.A because it makes more sense then b Falsehood

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Below are several transactions for Scarlet Knight Corporation. A junior accountant, recently employed by the company, proposes t
azamat

Answer:

Scarlet Knight Corporation

Correct postings:

Accounts                 Debit    Credit

1. Cash                    12,500

  Common Stock                 12,500

2. Cash                     3,500

   Service Revenue               3,500

3. Supplies                 250

  Cash                                      250

4. Rent Expense       550

   Cash                                    550

5. Equipment         1,950

   Cash                                 1,950

Explanation:

a) Data and Calculations:

Accounts                 Debit    Credit

1. Common Stock    12,500

  Cash                                   12,500

2. Cash                     3,500

   Service Revenue               3,000

3. Supplies                 250

  Cash                                      250

4. Rent Expense       550

   Cash                                    550

5. Cash                   1,950

   Equipment                        1,950

b) The accounting rule is to debit the value receiver and to credit the value giver.  Generally, assets, expenses, and losses normally have debit balances while liabilities, equities, incomes, and gains have credit balances.

4 0
3 years ago
List two types of discounts and explain how they work for consumers.
Aleks04 [339]

Answer:

Early settlement Discount: It is offered to customer to encourage them to pay earlier than the payment date.

Bulk Discount: If the customer buys over a certain quantity, he will get a discount.

4 0
3 years ago
Explain what a trade war is
kolezko [41]

Answer: A trade war happens when one country retaliates against another by raising import tariffs or placing other restrictions on the other country's imports.

Explanation:

6 0
3 years ago
For the fiscal year ending December 31, previous year and the current year, Justin Co. has net sales of $1,000,000 and $2,000,00
Semmy [17]

Answer:

A) Accounts receivable turnovers are 10.0 and 6.6 and the ratios of uncollectible accounts receivable to gross accounts receivable are 0.30 and 0.16, respectively. Examine allowance for possible understatement of the allowance.

Explanation:

accounts receivable turnover from the previous year = total sales previous year / average gross receivables previous year = $1,000,000 / $100,000 = 10

accounts receivable turnover from the current year = total sales current year / average gross receivables current year = $2,000,000 / $300,000 = 6.67

ratios of uncollectible accounts receivable to gross accounts receivable for previous year = $30,000 / $100,000 = 0.3

ratios of uncollectible accounts receivable to gross accounts receivable for current year = $50,000 / $300,000 = 0.167

Option A shows the correct amounts for the accounts receivable turnover and ratios of uncollectible accounts receivable to gross accounts receivable. Since the ratio of uncollectible accounts receivable decreased so much during the current year, the allowance for accounts receivables for the current should be double checked to see if it wasn't understated.

4 0
4 years ago
Someone explain brainliest to me and why it is so hard to get and why it is so good :(
gayaneshka [121]
The brainliest answer is "the best answer". The person asking the question has to give the brainliest answer someone that answered. It's good because it gives you extra points to level up.
5 0
4 years ago
Read 2 more answers
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