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3 years ago

What can accountants do for businesses or individuals?

1 answer:

7 0

My mom actually has her accountant degree but she quit after a few years and got a different degree. any ways here you go!

An accountant can advise on business structure.

An accountant can issue invoices.

An accountant can record sales.

An accountant can manage and pay invoices from suppliers.

An accountant can manage payroll.

An accountant can keep you up to date with tax laws and changes.

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During the year, Bears Inc. recorded credit sales of $620,000. Before adjustments at year-end, Bears has accounts receivable of

AleksandrR [38]

Answer:

Bad Debt Expense Dr. $28050

Allowance for Uncollectible accounts Cr. $28050

Explanation:

given data

credit sales = $620,000

accounts receivable = $320,000

past due = $55,000

credit balance = $2,600

rate = 7 %

rate = 22 %

solution

so here Not yet past due is = $320,000 - $55,000 -

Not yet past due = $265,000

and

past due = $55,000

so Required provision is

Required provision = $265,000 × 7 % + $55,000 × 22 %

Required provision = $30650

and

Opening balance is $2,600

Required expense for year = $30650 - $2,600

Required expense for year = $28050

so here

correct entry is

Bad Debt Expense Dr. $28050

Allowance for Uncollectible accounts Cr. $28050

8 0

3 years ago

Use the following information for questions 6 and 7. Wonderland Company imports and sells a product produced in Canada. In the s

GarryVolchara [31]

Answer:

$1,564,800

Explanation:

Year Purchased Quantity (Units) Cost per unit Total Cost

2017 4,000 $160 $640,000

2018 10,000 $220 $2,220,000

2019 16,000 $320 $5,120,000

(A) Sales Revenue

2019 18,400 $392 $7,212,800

(B) Less: Cost of Goods Sold (LIFO)

2019 (16,000 x $320) ($5,120,000)

2018 {(18,400 - 16,000) x $220} ($528,000)

(A - B)Gross Profit $1,564,800

7 0

3 years ago

Tom finds out that his coworker is sharing confidential information with a competitor. What should Tom do to handle the situatio

omeli [17]

i just asked my brother , and he goes to business school at bentley university in massachusetts, he said he was in a similar situation he said that reporting it to your supervisors is the best idea.

your welcome!!

5 0

3 years ago

Which statement about portfolio diversification is correct?

mario62 [17]

Answer:

C. As more securities are added to a portfolio, total risk typically would be expected to fall at a decreasing rate.

Explanation:

Portfolio diversification gives more security to a portfolio, which expected to results in a decreasing rate of total risk.

The portfolio which is diversified carries the co-variance measure of risk. It has the property of reducing the risk as it diversifies the portfolio to a great extent.

It reduces the overall risk by diversifying the assets i.e. stock , bonds, commodities etc.

Hence, the most appropriate answer is option C.

8 0

2 years ago

Training workers to do their jobs properly and working with suppliers to improve the quality of material they supply to you are

rjkz [21]

Making your buisiness better

5 0

3 years ago

Read 2 more answers