[Lady D]

How can a business protect against uncollectible accounts? Which protection measures do you think are worth the expense?


Thank you

[sukigr]

What potential implications arise for the accounting firm if they issue an unqualified report without the going-concern explanatory paragraph?

[morgaine300]

Both of you, please read our guidelines for submitting homework questions:

https://www.askmehelpdesk.com/financ...-b-u-font.html

Please at least make an attempt to answer it first. It's asking what you think.

And sukigr, please post your question under a new thread of your own. Have two separate questions in the same thread is just confusing.

[swtsue1960]

When doing a cash receipts journal, what goes into the cash debit, sales discount debit, accounts receivable credit, sales credit, other accounts credit, cog debit /inventory credit spots?

[morgaine300]

swtsue1960, read the post right above yours. You obviously have not read this thread and are just tacking your question here even though it doesn't belong here.

[swtsue1960]

Anderson construction assembles residential houses. It uses a job costing system with 2 direct cost categories (direct material and direct labor) and one indirect cost pool (assembly support). Direct labor hours is the allocation base for assembly support costs. In December 2006, Anderson budgets 2007 assembly support costs to be 8,000,000 and 2007 direct labor hours to be 160,000. At the end of 2007, Anderson is comparing the costs of several jobs that were started and completed in 2007.
Laguna Model Mission Model
Construction period Feb-June 2007 May-Oct 2007
Driect materials 106,450 127,604
Direct Labor 32,276 41,410
Direct labor hours 900 1,010

Direct materials and direct labor are paid for a contract bases. The costs of each are known when direct materials are used of when direct labor hours are worked. The 2007actural assembly support costs were 6,888,000 and the actual labor hours were 164,000.
Here is the question
How do you compute the budgeted indirect cost rate and then how do you compute the actual direct cost rate? 2. How do you compute the normal costing and actual costing.

[AdamUTsel]

Uncollectible accounts can be alleviated by doing credit checks on customers before allowing customers to purchase goods "on account".