How much from the total collections were not able to avail of any of the cash discounts?

Q: Hi, I want to ask about the Cash Over and Short Account. Why and how does this account exist? Where…

A: Step 1 An account in the general ledger in which the amount by which actual ending cash balance…

Q: How can the company reduce the level of uncollectible accounts and increase the likelihood that…

A: Uncollectible accounts are those accounts of accounts receivables on which amount due can not be…

Q: Cash received from loans is a deposit other than customer payments. Group of answer choices True…

A: Cash received from the loan is considered as the current liabilities with the name of deposits.

Q: Explain different methods for cash transactions, and the costs associated with each.How these costs…

A: Cash transaction is referred as the transaction, which used to involve an immediate an outflow of…

Q: Why did the solvency status of Mia did not affect the cash distributed to Kia? Why no.26 & no.27…

A: Solvency refers to the company ability for meeting the financial obligations as well as the long…

Q: What account to credit if the customer’s notes receivable become delinquent and was not previously…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Explain why speeding up the collection of accounts receiv-able provides only a one-time increase in…

A: Fast-moving up the collection of accounts receivable will not increase the total amount collected.

Q: Which of the accompanying assertions are bogus?

A: A) Old Furniture discounted doesn't influence income.    B) Cash stream proclamation subs for cash…

Q: Why is careful management of accounts receivable and accounts payable so essential to ensuring…

A: Accounts receivables are resources that are generally classified as current assets, implying that…

Q: 30.The concept and accounting for cash discounts and trade discounts are      a. always the same. b.…

A: Introduction:- Cash discount is offered by the seller to the buyer on the invoice amount at the time…

Q: Explain the difference between a trade discount and a cash discount.

A: Discount is the deduction from the cost of product or service that a seller offers to the buyer…

Q: After removing the Change Fund, a cash shortage exists if: a.the Petty Cash Fund is greater than the…

A: To meet daily expenses which are insignificant in nature, organisation keeps some amount of change…

Q: What are the different risks associated in the accounting of cash

A: The element of risk arises in each and every area and how well we can minimise or reduce the risk is…

Q: separation of duties

A: Separation of duty is the internal conttro process by which the company avoids the fraud and…

Q: So the cash shortage of $61 should be recorded in cash short and over?

A: The account of cash short and over is the account in the general ledger (GL) and this account…

Q: How does collection policy influence sales and the bad debt expenses

A: Solution Note : Dear students as per the Q&A guidelines we are required to answer the first…

Q: When the units produced is greater than the units sold, A. some variable manufacturing overhead…

A: Units produced means the number of units produced or made by the entity during a period and units…

Q: Debit

A: Lost or stolen debit or credit both can cause problems. However the problem is more with the debit…

Q: What kind of business would have a short duration of receivables collection?

A: The low collection time is typically more appealing than the long collecting period. The fact that…

Q: Ford Motor Co. is considering alternate methods ofaccounting for the cash discounts it takes when…

A:

Q: How does the cost of costly trade credit generally compare withthe cost of short-term bank loans?

A: Costly trade credit imply companies that make payments after the discount period as they forego the…

Q: Why should we count all cash at the same time?

A: It is necessary to count all cash at the same time to match physical balance with book balance. Cash…

Q: Why do companies offer a cash discount?

A:

Q: cash budgeting, what costs are paid (cash outflows) before they are recognized as expenses? What…

A: Cash budgeting is a financial management process that involves predicting and preparing for a…

Q: Why is it preferable to receive cash sooner rather than later?

A: Definition:   Time value of money: The time value is measured with the difference between an…

Q: When a business factors its accounts receivables, the business O no longer has to deal with the…

A: Solution:- Factoring is a concept in which the business sells its debtors to a third party, known as…

Q: Why does a decrease in receivable turnover create the need for cash from  operating activities?

A: Operating activities are the day-to-day business activities that a company engages in to generate…

Q: What are the disadvantages of only accounting for cash income and expenses in basic cost and return…

A: Cost and return analysis is also regarded as cost-benefit analysis which is carried out to make…

Q: What is the difference between cash expenses and non cash expenses?

A: Rent expense, salary expenses, insurance expense, depreciation expense, amortization expense, and…

Q: What is the traditional cash equivalency approach used to determine how below-market-rate loans…

A: Introduction: The given question is related to the concept of real estate finance and investments.…