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3 years ago

Month-end & Year-end process helps to write-off bad debts.

Business

1 answer:

Katyanochek1 [597]3 years ago

5 0

Answer:

False

Explanation:

It is FALSE that Month-end and Year-end process helps to write-off bad debts.

This is because both month-end and year-end processes are processes specifically carried out to adjust all account balances to make and depict the actual financial activities of the firm. This assists the firm's management team to make a further decision, but not to just write-off bad debts.

Bad debt is written off only when a customer invoice is deemed to be uncollectible.

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When employees at all occupational levels are asked to rank what is important to them, the order that put them in is: sufficient

bazaltina [42]

Explanation:

I don't understand the question. Maybe elaborate more.

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3 years ago

If you are an engineer working for a state highway department with the responsibility for overseeing and regulating construction

Nimfa-mama [501]

Yes it is a conflict of interest to leave the state and accept a position with a construction company that you formerly handled as a government relations manager.

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8 0

1 year ago

If convertible bonds were issued at a discount, when computing diluted EPS, the amortization of the bond discount: Multiple Choi

Brums [2.3K]

<u>Answer:</u> Option 1

<u>Explanation:</u>

If the convertible bonds are issued at discount then it will increase the numerator. Convertible bonds yields a fixed interest income. When the convertible bonds are issued at a discount then they can be converted into shares and discount is considered in the purchasing price of the stock.

In amortized bond the each payment goes towards the interest as well as the principle amount. Amortization reduces the credit risk as the principle is repaid on maturity or on default of the firm.

6 0

3 years ago

Felton Co. sells major household appliance service contracts for cash. The service contracts are for a 1-year, 2-year, or 3-year

tia_tia [17]

Answer:

Unearned Service Contracts Revenue = $330,000

Explanation:

Unearned Service Contracts Revenue refers to the expected revenue from a contracts been carried and has yet been paid.

Unearned Service Contracts Revenue for 2010 = $100,000, for 2011 = $160,000 and for 2012 = $70,000

Unearned Service Contracts Revenue = $100,000 + $160,000 + $70,000

Unearned Service Contracts Revenue = $330,000

7 0

3 years ago

A plant's fixed overhead costs total $500,000 for a year to produce 400,000 widgets, among other items. If machine‐hours are use

maxonik [38]

Answer:

$0.5

Explanation:

A plant's fixed total overhead cost is $500,000 for a year

400,000 widgets are required to be produced for this period

All processes require a 40,000 machine hours and the widgets use 16,000 hours out of the total hours

The first step is to calculate the fixed overhead application rate

= $500,000/40,000

= $12.5 machine-hour

The fixed overhead that is applied to the widgets can be calculated as follows

= $12.5 × 16,000

= $200,000

Therefore, the fixed overhead that is applied to each of the widgets produced can be calculated as follows

= 200,000/400,000

= $0.5

Hence the fixed overhead that is applicable to each widgets is $0.5

7 0

3 years ago