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Aleks04 [339]
2 years ago
13

A client is using the Sales on Account workflow. Instead of receiving a payment against the invoice, they add a new deposit cate

gorized to an income account. What 2 problems will this cause?
Business
1 answer:
drek231 [11]2 years ago
4 0

Answer:

It will cause a major problem in case the client adds new deposit to an income account instead of receiving a payment.

Explanation:

Account receivables are the record of the invoices for which the client has not made payment yet. If the client adds a new deposit categorized to an income account instead of receiving a payment against the invoice, the first major problem would be that the Accounts Receivable balance of the client will not be accurate. It will create duplicate expenses as there was an entry made for a new deposit.

The second problem will be as a result of the first one that, the income account will show duplicate income and correct the correct income will not be recorded.

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The maintenance expenses on a rental house you own average $200 a month. The house cost $219,000 when you purchased it four year
Serhud [2]

Answer:

value we place on this house when analyzing the option of using it as a professional office is $225000

Explanation:

Given data

house cost 4 year ago  = $219,000

house valued = $239,000

real estate fees = $14000

property taxes = $4,000

to find out

What value should you place on this house

solution

we know if we sell house we should pay real estate fee

so we get need money to place is present cost - real estate fees

so cost will be

cost = house valued  - real estate fees

cost = 239000 - 14000

cost = 225,000

so value we place on this house when analyzing the option of using it as a professional office is $225000

0 0
2 years ago
Harrison Industries began July with a finished-goods inventory of $48,000. The finished-goods inventory at the end of July was $
Anestetic [448]

Answer:

Option (D) is correct.

Explanation:

Given that,

Began July with a finished-goods inventory = $48,000

Finished-goods inventory at the end of July = $56,000

Cost of goods sold during the month = $125,000

Cost of goods manufactured during July:

= Ending finished goods inventory + Cost of goods sold - Beginning finished goods inventory

= $56,000 + $125,000 - $48,000

= $133,000

8 0
1 year ago
If the price of a slice of pizza rises from $2.50 to $3, and quantity demanded falls from 10,000 slices to 7,400 slices, using t
GenaCL600 [577]

Answer:

(C) -26%

Explanation:

Initial quantity of pizzas demanded = 10,000 slices

New quantity of pizzas demanded = 7,400 slices

Change in quantity of pizzas demanded = new quantity demanded - initial quantity demanded = 7,400 - 10,000 = -2,600 slices

Percentage change in quantity demanded = (change in quantity of pizzas demanded ÷ initial quantity of pizzas demanded) × 100 = (-2600 ÷ 10,000) × 100 = -0.26 × 100 = -26%

8 0
1 year ago
Matt wants to attend a university in California and is waiting to hear back from schools where he has applied. He has filled out
Andreyy89

Answer:

Getting a work-study job

Working at an on-campus job

Explanation:

The first option that will meet Matt's needs is to get a work-study job. A work-study job is like a financial aid program available in the universities to help students out of their financial needs. Work-study job is a part-time job that will enable Matt to work while studying at the University in California. It allows Matt to engage in a part-time job for some hours a week during his free time, like 20 hours a week while he studies in school and earns some money to subsidize the cost of his studies since Matt wants to avoid paying debt once he is out of school.

A work-study job is the best option for Matt's finance position because it will provide financial assistance for the cost of his education.

The other option for Matt is to work at an on-campus job. This is almost the same as a work-study job because it is a part-time job and carried out only in his free time. It is a part-time job done by students in the university while studying to help their financial needs. The only difference with the work-study job is that the job here will only be done on campus, unlike work-study job which can be done outside the campus. Here Matt will have to get a part-time job on campus and not outside the campus.

7 0
1 year ago
Read 2 more answers
All of the following are inventoried under variable costing except: utilities cost consumed in manufacturing. raw materials used
Bogdan [553]

Answer:

The right approach is Option d (Sales commissions).

Explanation:

  • Sales commission seems to be an expense for the time that is not reflected throughout inventory commodity prices. That would be the amount that could be received by a sales agent as well as a sales representative including its price of a property.
  • The cost of products generated, credit card payments, postage charges the sales commission that you will allocate to sales workers are including variable costs.

Some other three choices are not associated with the case in question. So, option d seems to be the right choice.

8 0
1 year ago
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