Answer:
In a larger corporation, the CFO's duties shift more toward analysis, oversight, and management.
Explanation:
Accounting and Reporting: The CFO is responsible for keeping accurate financial records and for reporting on a company or organization's financial status.
Answer:
Debit : Dividends $50,000
Credit : Cash $50,000
Explanation:
Dividend calculation = 500,000 shares x $1 x 1/10 = $50,000
To record the dividend, the following entry is made :
Debit : Dividends $50,000
Credit : Cash $50,000
The total cost of the lone will be lower
Answer:
a. Allowance for doubtful accounts = Unadjusted balance + Adjusted balance
= $10,500 + $110,000
= $120,500
b. i)The adjusted balance of accounts receivable shall be $2,150,000(adjusted debit balance)
ii) Adjusted balance = Bad debt expense - Unadjusted balance
= $120,500 - $10,500
= $110,000 (Adjusted credit balance)
iii) Adjusted bad debt expense = Unadjusted balance of allowance for doubtful accounts + Adjusted balance allowance for doubtful accounts
= $10,500 + $110,000
= $120,500 (Adjusted debit balance)
c. Net realizable value = Gross accounts receivable - Allowance for doubtful accounts
= $2,150,000 - $110,000
= $2,040,000
The answer is a, the more you wait to get you money back the more you charge in interest, you have to be paid to wait.
