Answer and Explanation:
The journal entry to record the given transaction as follows:
Uncollectible account expense or bad debt Dr $5,670
To Account receivable $5,670
(being uncollectible account expense is recorded)
Here the expense is debited as it increased the expenses and credited the account receivable as it decreased the asset
Answer:
contribution margin ratio= 0.37
Explanation:
Giving the following information:
Sales= $4,700
Total variable cost= $2,961
To calculate the contribution margin ratio, we need to use the following formula:
contribution margin ratio= (sales - total variable cost) / sales
contribution margin ratio= (4,700 - 2,961) / 4,700
contribution margin ratio= 0.37
Answer:
Calculating the bill total for the week:
The Sum Function in excel is a very easy mathematical operation to sum the daily bill amounts. In the cell for the sum, you can manually enter the sum function by typing (=sum), then you define the parameters (=sum(C50:I50). One you press the "enter" the result is automatically displayed. This can also be automatically done by pressing the Sum Function on the Ribbon or Alt + =.
Explanation:
In Microsoft Excel, the Sum Function is a mathematical operation or syntax that provides the formula for adding, subtracting, or getting the total numerical content of indicated cells. With the Sum Function of Excel you can add, subtract, multiply, and divide, for example A1 * A4, C20/A2, A4 - A5, and so on.
Answer:
The correct option is D
Explanation:
GDP (Gross Domestic Product) is the monetary amount of all the finished goods and services which is made within a country during a particular period. It measures or evaluates the value of the economic activity within a country.
Rise in GDP could be because of the strengthening in the property rights, increase in the investment in human capital and change from inward oriented policies to the outward policies.
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Answer: The correct answer is "C. An activity-based approach refines a costing system by focusing on individual activities as the fundamental cost objects. It uses the cost of these activities as the basis for assigning costs to other cost objects such as products or services.".
Explanation: The ABC costing model is a model that is based on the grouping into cost centers that make up a sequence of value of the products and services of the company's productive activity. It focuses its efforts on managerial reasoning in an adequate way the activities that cause costs and that are related through its consumption with the cost of the products. The most important thing is to know the generation of costs to obtain the greatest possible benefit from them, minimizing all the factors that do not add value.
