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2 years ago

8

Which of the following is not commonly regarded as being part of a firm’s credit policy? a. Credit period b. Collection policy c

. Credit standards d. Cash discounts e. All of the statements above are components of a credit policy

1 answer:

Alex2 years ago

6 0

D!!! All of the above

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Which one of these will most likely require a specialized inspection?

Contact [7]

The answer to that is roof

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2 years ago

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27. Person X pushes twice as hard against a stationary brick wall as person Y. Which one of the following statements is correct?

lbvjy [14]

Answer:B Both do positive work, but person X does twice as old as person Y

Explanation:

It means X has put in double the efforts of Y. That for every one efforts of Y, X does two and for every two he does four etc

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2 years ago

Johnson Company calculates its allowance for uncollectible accounts as 10% of its ending balance in gross accounts receivable. T

Margaret [11]

Answer:

<em>Incomplete question is "2. What journal entry should Johnson record to recognize bad debt expense for 2021? 3. Assume Johnson made no other adjustment of the allowance for uncollectible accounts during 2021. Determine the amount of accounts receivable written off during 2021 4. If Johnson instead used the direct write-off method, what would bad debt expense be for 2021?"</em>

1. Gross accounts Receivable = Allowance Account balance at beginning / 10%

= $30,000 / 10%

= $300,000

2. Year Account Title Debit Credit

2021 Bad debt expense $105,000

($500,000*10% + $55,000)

To Allowance for Doubtful Accounts $105,000

3. Accounts receivable written off = Beginning balance of Allowance Account - Ending Balance of Allowance account

= $30,000 - (- $50,000)

= $30,000 + $50,000

= $80,000

4. Bad debt expense for 2021 (direct write off method) = Amount written off = $80,000

4 0

2 years ago

A quality improvement project was initiated in an industry that has seasonal demand for their product, coolers/ice chests, which

Vika [28.1K]

Answer:

The correct answer is letter "A": Histogram.

Explanation:

A Histogram is a graphic representation of grouped data in intervals. The data comes from quantitative variables. A histogram allows generating an idea of the distribution of the data or samples. Qualitative data can also be used but the amount of data must be large. This type of graph plots rectangular vertical bars together with proportional height to the intervals they represent.

Thus,<em> the project in the example can use a histogram to portrait its level of sales through the different seasons.</em>

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2 years ago

Exeter Company acquires 35% of the voting stock of Fenton Corporation for $7,000,000 on January 1, 2020. At the time, the book v

ArbitrLikvidat [17]

Answer:

a. $700,000.

Explanation:

20,000,000 x 35% = 7,000,000

purchase cost: 7,000,000

nor goodwill or excess of value should be recognized.

But, if the face value is 15,000,000 then:

15,000,000 x 35% = 5,250,000

we recognize a goodwill of 1,750,000

which will be amortized over 5 year thus:

1,750,000 / 5 = 350,000

For the income of Frenton it will recognize the proportion of the net income and subtract the amortization on the goodwill.

3,000,000 x 35% = 1,050,000

amortization <u> (350,000) </u>

<em>income from Frenton 700,000</em>

<em />

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2 years ago