The theory of distributive justice analyzes society through a "veil of ignorance."
Indicate whether the statement is true or false
True
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The following materials standards have been established for a particular product: Standard quantity per unit of output 6.0?metersStandard price$19.00?per meterThe following data pertain to operations concerning the product for the last month: Actual materials purchased 10,200?metersActual cost of materials purchased$201,500? Actual materials used in production 9600?metersActual output 1580?units?What is the materials price variance for the month?
A. $2371 U B. $16,320 U C. $10,800 U D. $7700 U
At December 31 of the current year, a company reported the following: Total sales for the current year: $980,000 includes $160,000 in cash salesAccounts receivable balance at Dec. 31, end of current year: $160,000Allowance for Doubtful Accounts balance at January 1, beginning of current year: $7,300Bad debts written off during the current year: $5,800.Prepare the necessary adjusting entries to record bad debts expense assuming this company's bad debts are estimated to equal 1.5% of credit sales:
What will be an ideal response?
A company ages its accounts receivables to determine its end of period adjustment for bad debts. At the end of the current year, management estimated that $21,000 of the accounts receivable balance would be uncollectible. Prior to any year-end adjustments, the Allowance for Doubtful Accounts had a debit balance of $550. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense?
A.
| Bad Debts Expense | 20,450? | |
| Allowance for Doubtful Accounts | 20,450? |
B.
| Accounts Receivable | 21,550? | |
| Allowance for Doubtful Accounts | 21,550? |
C.
| Bad Debts Expense | 21,000? | |
| Allowance for Doubtful Accounts | 21,000? |
D.
| Accounts Receivable | 21,000? | |
| Bad Debts Expense | 550? | |
| Sales | 21,550? |
E.
| Bad Debts Expense | 21,550? | |
| Allowance for Doubtful Accounts | 21,550? |
Microsoft Access 2013 generates surrogate key values when the ________ data type is used
Fill in the blank(s) with correct word