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Provide calculations (if its possible) QUESTION 19 Entity J uses US GAAP and the direct method for operating activities in its statement of cash flows.
Provide calculations (if its possible)
QUESTION 19 Entity J uses US GAAP and the direct method for operating activities in its statement of cash flows. For the following item, indicate on which financial statement, it would appear: Employee satisfaction. O Multi-step income statement O Classified balance sheet O Retained earnings statement O Statement of cash flows Not on any financial statement QUESTION 20 The ledger of Entity G at the end of the current year shows Accounts Receivable of $350,000. Bad debts are expected to be 5% of Accounts Receivable. Allowance for Doubtful Accounts has a credit balance of $2,000 in the trial balance. The adjusting entry at the end of the current year would include: O a credit to Allowance for Doubtful Accounts O a credit to Bad Debt Expense O a credit to Accounts Receivable O a debit to Allowance for Doubtful Accounts QUESTION 21 Before month-end adjustments are made the December 2022 trial balance of Entity I contains revenue of $13,000 and expenses of $9.000 resulting in income before adjustments of $4,000. Indicate whether the following should be added, subtracted or would have no effect (NE) in arriving at accrual basis net income: Revenue from services performed is $1,200, although it has not yet been billed to the customers. ONE O Added O Subtracted QUESTION 22 The following information is available for Entity B for the year ended December 31, 2022. What is net income? Sales $ 145,000 Sales Returns 4,500 Sales Discounts 1,450 Cost of Goods Sold 60.000 Selling Expense 10.000 Administrative Expense 5,500 Interest Expense 7.500 Interest Revenue 1.000 O $57,050 O $63,550 O $139,050 O (6,500) 0000Step by Step Solution
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