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Alexxx [7]
2 years ago
12

To prepare a cvp graph, lines must be drawn representing total revenue, ______.

Business
1 answer:
Maurinko [17]2 years ago
8 0

The preparation of the CVP graph requires drawing a line representing the total revenue, total expense, and total fixed expense.

<h3>What is the CVP Graph?</h3>

The CVP Graph, also known as a cost volume profit chart, is a graphical illustration that depicts the link between production costs and overall revenues.

The CVP graph is used by businesses to determine the possible impact of changes in volume sales on production process costs and total earnings.

In this scenario, the graph considers the total revenue, total expense, and total fixed expense.

Learn more about the CVP graph here:

brainly.com/question/26411668

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Company X developed a highly innovative product and began exporting it. Both domestic and international markets became aware of
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Bramble Company uses the percentage of receivables method for recording bad debt expense. The accounts receivable balance is $59
shusha [124]

Answer and Explanation

Given:

Accounts receivable balance = $598,000

Percentage of receivables that are uncollectible = 5% or 0.05

Uncollectible receivables = 0.05 × 598,000 = $29,900

Adjusting journal entry to record bad debt expense is:

Particulars                                          Debit              Credit

Bad debts expense                            XXXXX

     Allowance for doubtful debts                               XXXXX

(Being bad debts incurred)

Noe, Allowance for doubtful debts has a credit balance of $4,800.

Bad debt incurred = 29,900 - 4,800 = $25,100

So adjusting entry :

Particulars                                          Debit              Credit

Bad debts expense                            $25,100

     Allowance for doubtful debts                             $25,100

(Being bad debts incurred)

7 0
3 years ago
For each of the situations​ listed, identify the primary standard from the IMA Statement of Ethical Professional Practice that i
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Answer:

1. To reduce the company's tax bill, Jack uses total cost to value inventory instead of using product cost as required by law.

  • Competence: accounting records must follows applicable laws, regulations and standards, you must IRA and GAAP rules when preparing financial statements and tax reports.

2. Since Emilie works in the accounting department, she is aware that profits are going to fall short of analysts' projections. She tells her aunt to sell stock in the company before the earnings release date.

  • Confidentiality: accounting records must b confidential unless you are authorized to disclose them, and you are not authorized to disclose the information to your aunt.

3. Veronica pays a Mexican official a bribe of $50,000 to allow the company to locate a factory in that jurisdiction so that the company can take advantage of the cheaper labor costs. Without the bribe, the factory cannot be located in that location.

  • Integrity: you must abstain from performing illegal activities, and bribery is illegal.

4. There is a failure in the company's backup system after a system crash. Month-end reports will be delayed. Kayla, the manager of the division experiencing the system failure, does not report this upcoming delay to anyone since she does not want to be the bearer of bad news.

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4 0
3 years ago
Braintree Inc., a manufacturer of smartphones, has entered into a 15-year partnership with a software company to develop sophist
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Answer:

strategic alliance

Explanation:

Based on the scenario being described within the question it can be said that the relationship in this scenario is best referred to as a strategic alliance. This term refers to an agreement between two parties in which they both help each other reach an agreed upon goal but still remain as their own independent organization. Instead it is only a strategy to reach the goals at a much faster time-frame than if each company were doing it alone.

6 0
2 years ago
Read 2 more answers
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