Answer:
Explanation:
The journal entries are shown below:
On January 31
Allowance for doubtful accounts A/c Dr $800
To Account receivable A/c $800
(Being the written off amount is recorded)
On January 31
Account receivable A/c Dr $300
To Allowance for doubtful accounts A/c $300
(Being the reverse entry is made)
On March 9
Cash A/c Dr $300
To Accounts receivable A/c $300
(Being the amount is collected)
Answer:
d. Firm A will spend $4,000.
Explanation:
Since Firm B cost of Cleanup before it gets the the river is less than the cost of pollution permits, it will choose to clean up its pollution.
However, since Firm A cleanup cost per ton ($100) is greater than the cost of the pollution permit, it will choose to buy permits.
Maximum Allowable Number of Permits=40
Therefore, Firm A will clean up 10 Tons and dump 40 Tons of Waste.
Cost =(10 Tons *$100)+(40 Tons * $75)
=$(1000+3000)
=$4000.
Firm A will spend $4000.
Answer:
False.
Explanation:
Given: Total budgeted factory overhead cost = $600000.
Plantwide allocation base= 100000 hours.
Now, finding plantwide factory overhead rate.
Formula; Plantwide factory overhead rate= 
⇒ Plantwide factory overhead rate= 
Hence, Zorn´s plantwide factory overhead rate is $6 per hour not $3 per hour.
Answer: Independent bank reconciliations.
Explanation:
A bank reconciliation is a process by which the records of a bank account are verified to be correct, by comparing the personal records with the records that appear on the bank statement. This process is usually done independently when a company wants to audit its accounts and reconcile its processes.
Because this is a review of bank accounts (savings, payroll, checking accounts), no physical control is needed to do it, but rather a monetary control.
<em>I hope this information can help you.</em>
