Answer:
(C) Cash
Explanation:
Receivables means deptors. These are obligations that has been honoured and value given, but you're yet to get cash. Receivables are seen as such. So the things you've given value to and you're yet to receive cash or payment for are receivables.
So when receivables are collected, then the asset account Cash is increased.
On the Delivery of goods or Services, the company debits Accounts Receivable and credits what is known as Sales Revenues or Service Revenues. When an account receivable is collected say 30 days later, the account receivables is reduced and the Cash or bank account is increased.
Answer:
The correct option is <u>C. intuition</u>
Explanation:
Intuition can be described as a quality in which a person thinks of something to be right due to his/her instinctive feeling. There is no logical reason for that thing to be right but still, a person understands or believes it to be true. For example, in the above question, Madelyn does not have any conscious reasoning for her being a veterinarian yet it just feels right to her. Hence, this is her intuition.
Answer:
the allocated direct manufacturing overhead costs of Job 56 is $25
Explanation:
Overheads in manufacturing process are allocated to jobs or products using cost drivers or surrogates.
<em><u>First Step : Determine the Pre-determined Overhead rate</u></em>
Pre-determined Overhead rate = Budgeted Overheads / Budgeted Activity
= $2,000 / 800
= $ 2.50 per labor hour
<em><u>Step 2 : Determined the Amount of Overhead allocated to Job 56 based on labor hours utilised</u></em>
Overhead for Job 56 = Pre-determined Overhead rate × Hours Used
= $ 2.50 × 10
= $25
Answer:
The correct answer is letter "D": Either the General Fund or Internal Service Fund is acceptable.
Explanation:
The General Fund is used by the government to record all the inflows and outflows of the transactions related to daily use expenditures and long-term operations. The agency that provides the resources is the Department of Treasury through loans receivable.
The Internal Service Fund record all transactions derived from the expenditures in the use of goods or services among government departments and agencies on a cost-reimbursement basis.
Thus, when reporting governmental financial activities, the can be recorded in the General Fund or the Internal Service Fund.
First, he wanted to do something he enjoyed.
second, he wanted a business that would give back tot he community.
third, he wanted a business that would grow and be more successful every year.
fourth, realizing that he was going to have to work very hard, Micheal wanted a business that would generate a minimum income of 25,000 annually.