I think the answer is false
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Answer:
$61,200
Explanation:
Maintenance expenses allocated to assembly department
Allocation base = Square footage
= $102,000 * $55,200 / ($55,200 + $36,800)
= $102,000 * $55,200 / $92,000
= $61,200
Answer:
D) $2,900.
Explanation:
The computation of the net income is shown below:
= Revenue on account - Expenses for the period
= $5,000 - $2,100
= $2,900
To determine the net income we subtract the expenses incurred for the period from the revenues so that the accurate amount could come.
This net income would be reflected at the time of preparing the retained earning statement
Answer:
The correct answer is the option D: Allows a company to use an account receivable aging as part of its methodology for estimating credit losses.
Explanation:
To begin with, the name of "Current Expected Credit Losses" in the field of business and accounting refers to an specific model used by the companies that was issued by the Financial Accounting Standards Board and its main purpose is to focus on estimation of expected losses according to the complete life of the loan. So therefore that this model allows the companies to use an accounts receivable aging ar part of its methodology for estimating the credit losses. And that is also why this system has had an important impact in the financial institutions of the United States of America.
