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3 years ago

13

A branch of accounting that generates reports and information for the use of internal management for decision making purpose is

known as?

1 answer:

earnstyle [38]3 years ago

8 0

Answer:

financial accounting and management accounting

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At the end of the year, Brinkley Incorporated’s balance of Allowance for Uncollectible Accounts is $3,500 (credit) before adjust

gayaneshka [121]

Answer:

The adjustment Brinkley records for Allowance for Uncollectible Accounts using the percentage-of-credit-sales method:

Debit Bad debts expense $6,500

Credit Allowance for Uncollectible Accounts $6,500

Explanation:

Brinkley Incorporated’ uses the percentage-of-credit-sales method - application a flat percentage to the total amount of net credit sales for the period to estimate uncollectible.

Estimated uncollectible = 5% x $130,000 = $6,500

The company records an Allowance for Uncollectible Accounts for $6,500 while simultaneously reporting $6,500 in bad debts expense. The adjustment entry:

Debit Bad debts expense $6,500

Credit Allowance for Uncollectible Accounts $6,500

The balance in the Allowance for Uncollectible Accounts after adjustment is $6,500 + $3,500 = $10,000

3 0

4 years ago

If the Chinese government sets the exchange rate at 4 yuan per 1 U.S. dollar, then the:1) supply of Chinese yuan will increase.

tamaranim1 [39]

If the Chinese government sets the exchange rate at 4 yuan per 1 U.S. dollar, then the supply of Chinese Yuan will increase .

Option 1

<u>Explanation:</u>

A regular midpoint price, based upon a previous day yuan closing rate and quotes from interbank dealers, has been developed every Morning by the People's Bank of China (PBOC).

The Yuan dropped out days after Trump suddenly stirred up a trade war with China, proposing 10 percent tariffs on some other $300 billion range of Chinese products. Yet China's People's Bank of China, Yi Guang, insists China will not "take part in international devaluation.

Investors were used to the flexibility of the yuan, after ten years of constant appreciation with the US dollar. Despite its response, China's adherence to free-market principles was challenged by many others, the new currency regime was still closely related to a 'controlled float.'

3 0

3 years ago

Patrick Inc. sells industrial solvents in 5-gallon drums. Patrick expects the following units to be sold in the first three mont

rewona [7]

Answer:

The sales budget is prepared below. See table below.

Explanation:

<em>A sales budget shows the expected revenue and units to be sold for a forth coming accounting period. The sales budget for Patrick Inc would look as follows:</em>

Sales budget

Month Units Revenue($)

January 41,000 1,435,000

February 38,000 1,330,000

March 50,000 1<u>,750,000</u>

<u>4,515,000</u>

Note the revenue per month is determined by multiplying the unit to be sold by the price per unit of $35

6 0

4 years ago

June Smith, a process engineer, has sold her 15-year patent for a new etching process to Silica Labs, Inc. In return, she has re

Oduvanchick [21]

Answer: D. Current ratio will decrease and total debt to equity ratio will decrease.

Explanation:

The Current ratio is calculated by dividing the firm's current assets by it current liabilities. This transaction will have the effect of reducing the cash account of Silica Labs by $500,000 which means the numerator will be less in the equation which would lead to a lesser Current ratio.

The total debt to equity ratio is calculated by dividing the firms's total debt by its equity. Silica offered equity to June thereby increasing their equity account. This will mean that the denominator has increased in the equation which will lead to a lesser total debt to equity ratio.

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3 years ago

A server expects a group of poorly dressed customers to be stingy tippers and gives them poor service, so he gets the result tha

Harlamova29_29 [7]

The answer to the given blank above is SELF-FULFILLING PROPHECY. From the term itself, self-fulfilling prophecy refers is a kind of prediction made by someone which most likely becomes true, may it be directly or indirectly. Usually, this is a result of both belief and behavior. In the given scenario above, the waiter, serving poorly dressed customers, predicts that he is going to be tipped low and so he gives them bad service. As a result, he did really get a smaller tip, just as he expects or believes.

8 0

3 years ago