Accountıng I

Yanıt Açıklaması: Companies determine the number of units from perpetual inventory records backed up by a physical count. The cost of each unit of inventory is as follows: Cost per unit = Purchase price – Purchase discounts – Purchase returns + Freight in C is the right answer.

Yanıt Açıklaması: According to text dotted place should be ' Disclosure Principle'

Yanıt Açıklaması: Accounts receivables are recognized at their fair value, which comprises of transaction costs associated with the transaction.

Yanıt Açıklaması: Bad debt expense is an income statement account that shows the losses incurred due to uncollectible receivables.

Yanıt Açıklaması: Accounts receivable is the amount owed to a company by customers as a result of delivering goods or services. It occurs when a business makes sales on credit. This means that the business agrees to get cash from its customers later for goods or services delivered today. The correct answer is B.

Yanıt Açıklaması: Sales Returns and Allowances           5.000 Accounts Receivable              5.000

Yanıt Açıklaması: Net Realizable Value is the estimated sales value minus estimated cost of completion and minus estimated cost of sale.

Yanıt Açıklaması: Accounting is an information system which provides financial information about the entity for decision makers. This system includes three kinds of basic activities which are identifying, recording and communicating of the financial transactions of an entity. The correct answer is B.

Yanıt Açıklaması: Bad debt expense is an income statement account that shows the losses incurred due to uncollectible receivables.

Yanıt Açıklaması: Days’ Sales in Inventory = 365 days divided by inventory turnover The correct answer is A.

Yanıt Açıklaması: Research and Development Expenses are among the MULTIPLE-STEP INCOME STATEMENT

Yanıt Açıklaması: Income statement of a firm is also affected by the uncollectible receivable amounts. The amount of expected uncollectible receivables is reported in the income statement as an expense so that profit should not be overstated. This expense is recorded in bad debts expense account and reported as bad debts expense in the income statement.

Yanıt Açıklaması: You can use the formula Accounts receivables - (minus)Allowance for doubtful debts=Cash (Net) Realizable Value of the Accounts Receivable

Yanıt Açıklaması: In manufacturing companies raw materials are converted to finished goods and then sold to customers. These companies have three types of inventories: (i) raw materials inventory, which includes materials and parts purchased to be used in production, (ii) work-in-process inventory, which are the products that are not completed as of the end of accounting period and (iii) finished goods inventory, which are the completed products available to be sold.

Yanıt Açıklaması: Maker is the writer of a note, promises to pay.

Yanıt Açıklaması: Revenue is the gross inflow of economic benefits during the period arising from the course of the ordinary activities of an entity when those inflows result in increases in equity, other than increases relating to contributions from equity participants. In other words, revenues are earnings that result from delivering goods or services to customers. In this sense, revenues are the gross increase in owner’s equity resulting from business activities entered into for the purpose of earning income. For examples, selling goods (sales), performing services (fees), lending money (interest), leasing machine (rent) all create revenues for a given period. A is the right answer.

Yanıt Açıklaması: Average Cost Method is an inventory costing method based on the weighted average cost per unit of inventory that is calculated after each purchase. Weighted average cost per unit is determined by dividing the cost of goods available for sale by the number of units available.

Yanıt Açıklaması: Regarding with artificial intelligence, “machine learning” and “deep learning” can provide effective techniques to find some solutions to protect businesses’ cash and other assets against fraud.

Yanıt Açıklaması: Work in Process Inventory reports the cost of goods, materials and other components of manufacturing process used for the inventory which are still in production process, in other words unfinished at the time financial statements are prepared.

Yanıt Açıklaması: Factoring is the business of purchasing receivables from companies upon a fee for the services performed to manage and collect receivables.