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pentagon [3]
3 years ago
10

Direct Method Question (2026, Current Period): 2026 2025 A/R 49,000 23,000 Prepaid Insurance 15,000 3,000 Salaries Payable 13,00

0 5,000 Sales 125,000 63,000 Insurance Expense 20,000 12,000 Salaries Expense 57,000 21,000 What is the second number in the cash event (direct method)
Business
1 answer:
hammer [34]3 years ago
4 0

Answer:

$49,000

Explanation:

Missing<em>"Cash Event => Cash Paid for Salaries Second Number => _____ __?___, ______ ______ ______"</em>

<em />

Cash paid for salaries (using direct method)

Particulars                                                           Amount

Opening salaries payable                                  $5,000

Add: Salaries expense for the current year      $57,000

Less: Closing salaries payable                           <u>$13,000</u>

Cash paid for salaries during current year     <u>$49,000</u>

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Product organisation is the grouping of sales and production efforts of a business as per the line of products and services of the business. This kind of organisation is chosen by businesses when they have some different product lines and they require special expertise for marketing and distributing them.

8 0
2 years ago
Santana Rey, owner of Business Solutions, realizes that she needs to begin accounting for bad debts expense. Assume that Busines
Anastasy [175]

Answer:

The Journal entries are as follows:

(a)

Bad Debt Expense A/c      Dr. $440

To Allowance for Doubtful Accounts     $440

(To record the bad debts)

Workings:

Bad Debt Expense = 1% of Total revenue

                                 = 0.01 × $44,000

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(b)

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To Allowance for Doubtful Accounts     $439.34

(To record the bad debts)

Workings:

Bad Debt Expense = 2% of accounts receivable

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4 0
3 years ago
Northland Juices, a division of New York-based Apple &amp; Eve, competes with Ocean Spray in the cranberry juice category. To be
saw5 [17]

Northland Juices, a division of New York-based Apple & Eve, competes with Ocean Spray in the cranberry juice category. To be successful, Northland must create selective demand in order to be selected over competitors.

Explanation:

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3 years ago
Which one of the following statements regarding disclosure is true?
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Answer:

4

Explanation:

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5 0
3 years ago
BAK Corp. is considering purchasing one of two new diagnostic machines. Either machine would make it possible for the company to
suter [353]

Answer:

a) For MACHINE A  

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Internal Rate of Return (IRR) 11,48%

For MACHINE B      

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Internal Rate of Return (IRR) 6,99%

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Explanation:

We use excel or a spreadsheet to calculate net present value and the profitability index of each machine. See document attached.

We use a cash flow to solve this problem.

At moment 0 we have the investment cost , in this case Original cost $76,700 $183,000 for Machine A and Machine B . From period 1 to period 8, we have inflows and outflow. (Estimated annual cash inflows $20,200 $40,500  

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Download xlsx
8 0
3 years ago
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