All categories

2 years ago

The allowance for doubtful accounts is reported as a(n) __________ on the balance sheet.

Business

1 answer:

Firlakuza [10]2 years ago

6 0

B. The allowance for doubtful accounts is reported as a deduction from accounts receivable on the balance sheet

You might be interested in

Spin Cycle Architecture uses three activity pools to apply overhead to its projects. Each activity has a cost driver used to all

shusha [124]

Answer:

The predetermined overhead rate for each activity.

Activities: Initial concept formation $42,200;

Cost Drivers: Number of project changes

Expected Use of Cost Driver/Activity = 15

Predetermined overhead rate for activity = Overhead/Cost Driver= 42,200/ 15= $2813

Activities: Design $556,000;

Cost Drivers :Square feet

Expected Use of Cost Driver/Activity = 38,000

Predetermined overhead rate for activity =Overhead/Cost Driver= 556,000/ 38,000 =$ 14.63

Activities: Construction oversight $124,200.

Cost Drivers: Number of months

Expected Use of Cost Driver/Activity= 105

Predetermined overhead rate for activity = Overhead/Cost Driver= 124,220/ 105 = 1183.04

5 0

3 years ago

Which of the following is an INCORRECT statement regarding the right to stop delivery of goods in transit? A. If the lessee rep

Verizon [17]

Answer:

B. The lessor does not have the right to stop delivery in transit due to the lessee's breach of the lease agreement; instead, the lessor must deliver the goods to the lessee in spite of the breach, and then sue the lessee for damages.

Explanation:

During the transit of goods, if the lessor learns of a breach of the lease agreement, he has every right to stop the delivery of the goods in transit by notifying the goods carrier or bailee. Since the carrier of the goods reports directly to the lessor, once he receives instructions from the lessor to stop delivery of goods, and he still has sufficient time, the delivery should be stopped.

Once the goods are reclaimed, the lessor can then decide to sue to recover damages. He can also, decide to cancel the contract at that point

7 0

3 years ago

Holly's Ham, Inc. sells hams during the major holiday seasons. During the current year 11,000 hams were sold resulting in $220,0

aalyn [17]

Answer:

The break-even point in sales dollars is: C. $32,000

Explanation:

During the current year 11,000 hams were sold resulting in $220,000 of sales revenue, $55,000 of variable costs, and $24,000 of fixed cost.

Contribution margin ratio = (Sales - Total Variable cost)/Sales = ($220,000 - $55,000)/$220,000 = 0.75

The break-even point sales dollars is calculated by using following formula:

Break-even point in sales dollars = Fixed cost/Contribution margin ratio = $24,000/0.75 = $32,000

4 0

3 years ago

Who is generally responsible for the materials price variance? the materials quantity variance? the labor efficiency variance?

Anna71 [15]

THE PURCHASING MANAGER is the one who is responsible for the material price variance because he is the one in charge of buying materials that are needed for production at competitive prices. THE PRODUCTION MANAGER AND THE SUPERVISORS are the one who is responsible for the material quantity variance and the labor efficiency variance.

8 0

3 years ago

Services provided by a public-service companies, such as water, electricity and gas are all known as

Artist 52 [7]

I believe the answer is A.) Utilities

4 0

3 years ago