Answer:
The words aren't bolded, so it is difficult to know what kind of phrase and it is difficult to help you.
Explanation:
Answer: It is charged to accumulated other comprehensive income.
Explanation:
The discount is recognized over the life of the contract when it is charged to accumulate other comprehensive income.
- Katherine had to rush to the bank every few months to borrow more money. She didn't really talk to her banker about her financial situation because she had no trouble getting larger loans. You see, she was always on time with her payments. Katherine always took trade discounts to save money on her purchases. That is, she paid all of her bills within 10 days in order to save the 2% discount offered by her suppliers for paying so quickly.
- Katherine's products were mostly purchased on credit. They'd buy a few lamps and a pot, and Katherine would let them pay overtime. Some were extremely slow to pay her, taking six months or more.
- Katherine noticed a small drop in her business after three years. The local economy was struggling, and many people were losing their jobs. Nonetheless, Katherine's business remained steady. Katherine received a phone call from the bank one day, informing her that she was behind on her payments. She explained that she had been so preoccupied that she had missed the bills. The issue was that Katherine did not have enough money to pay the bank. She frantically called several customers for payment, but none of them could pay her. Katherine had a classic cash flow problem.
<h3>How is it possible to have high sales and high profits and run out of cash while running a business?</h3>
It is entirely possible if you have a high level of accounts receivables and inventory and a low level of accounts payables. A sale is recorded when an invoice is raised, and a shipment is delivered; this does not always imply that you received cash and that it is recorded in your accounts receivable. Similarly, if you keep a lot of inventory, a lot of your money is locked up until the inventory is sold. On the contrary, if your payment terms with your suppliers are less favorable, you will end up paying before your receivables convert to cash. As a result, high sales and profits do not always imply a strong cash position.
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Answer:
B. cost of production report
Explanation:
The cost of production report summarizes all cost activities and its allocation in a department within a specified period of time. It contains the cost for each unit, amount of unit flow, difficulties faced during production.
The factory overhead production report compares actual fixed and variable cost to standard fixed and variable costs. Fixed cost are rent, taxes while variable cost are indirect labor, utilities.
manufacturing cost report contains all costs involved during the manufacturing of a goods such as cost of raw materials and direct labor.
process cost report summarizes the quantity of goods produced in each department as well as the cost incurred by each department.
