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A provision must be made in advance for those debts whose recovery is uncertain and to writing off bad debts. Each enterprise, depends on their past experience, make a provision for doubtful debts to meet that a loss while it happens. It is done for the reason of reflecting the debtors in the balance sheet at their true value. Provisions for doubtful and bad debts appear on the debit side of the profit and loss account and at the credit side of the provision for bad debts account.
1) Define Elasticity. If you have a product where elasticity is less than one, what does that mean? Is it good, bad for the firm? 2) Why will firms not shut down as soon as th
Flexible Budget Flexible budget is a budget that is designed to change in accordance along with the level of activity attained. It includes budgeting at various levels in anti
Direct Material Cost Variances (DMCV) This variance is a general difference in the standard direct material cost and the actual direct material cost. This variance may be prese
I need project help in Government and nonprofit accounting, can you help me in look out this problems?
Reasons for Overhead Variances Useful for Control Reasons Overhead variances are essentially a book balancing exercising giving an arithmetic reconciliation between the actual
Master Designs Company has cash flows for operating activities of $350,000. Cash flows used for investments in property, plant, and equipment totaled $65,000, of which 70% of this
how to treat an increase in output on marginal costing
Cube Manufacturing began two jobs during May 200X. The company had no beginning inventory. The following information is available:
Assume that Banc One receives a primary deposit of $1 million. The bank must keep reserves of 20 percent against its deposits. Prepare a simple balance sheet of assets and liabilit
What is a standard and acceptable variance
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