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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.
Classification of Labour Costs This can be classified into like: a) Indirect or Direct cost b) Variable or Fixed cost c) Non controllable and controllable cost a)
to determine product cost:
Quicksilver Compnay has set the follwoing standards for one unit of product: Direct material Quantity: 6.2 lbs per unit Price per lb: $11 per lb Direct Labor Quantity: 6 hrs
HOW APPLICABLE IS THE MARGINAL COSTING CONCEPT IN ACCOUNTING
Incremental Costs as Relevant Costs An incremental cost is specifically incurred with the following a course of action and ignorable if such action is not implemented. It cont
Imagine a world in which there are only two investment assets: Hasbro Inc. Stock (HAS) and McDonalds stock (MCD). The table below lists annual total returns (%) for each of the las
Absorption Costing, Marginal Cost and Marginal Costing Absorption costing is most often utilized for routine profit reporting and must be utilized for financial accounting rea
You have just been assigned to replace the current Project Manager for a very important project. You were provided a WBS for the project planning that had already been conducted,
explain about ruckerplan
Illustration of Overhead Variance Analysis Again for intentions of our demonstrations in overhead variance analysis, we will suppose the given basic data for company in the pr
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