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Determine the amount to be added to Allowance for Doubtful accounts in each of the following cases. (a) Balance of $500 in the allowance account just prior to adjustment. Analysis of accounts receivable indicates doubtful accounts of $9,500. (b) Balance of $950 in the allowance account just prior to adjustment. Uncollectibles are estimated at 2.5% of sales, which totaled $1,000,000 for the year.
Compute the East Division's ROI for last year; also compute the ROI as it would appear if the new product line is added and compute the East Division's residual income for last year; also compute the residual income as it would appear if the new pro..
Audra elects section 179 for asset C. Audra's taxable income from her business would not create a limitation for purposes of the section 179 deduction. Audra elects not to take additional first-year depreciation. Determine her total cost recovery ..
Your company has a pension plan. At the end of the year your company reports an ABO of $250,000, PBO of $300,000 and Plan Assets of $230,000 for the year ended December 31, 2011.
Falcon Co. produces a single product. Its normal selling price is 30.00 per unit. The variable cost are 19.00 per unit. Fixed costs are 25,000 for a normal production run of 5,000 units per month.
Prepare example journal entries to account for transactions related to accounts receivable and bad debt using both percentage of sales and the percentage of receivables methods.
Using property she inherited, Myrna makes a gift of $6.2 million to her adult daughter, Doris. The gift takes place in 2011. Neither Myrna nor her husband, Greg, has made any prior taxable gifts.
Prepare journal entries (A,B,C) and show proper disclosure (C) to reflect the following treasury stock transactions showing how each is accounted for under the cost method. (show computation)
Distinguish between accounting treatment for available for sale equity securities and trading equity securities with example.
Sonja is a United States citizen who has worked in Spain for the past 10 months. She received $5,000 a month as compensation. Her employer has offered to extend Sonja's contract to work in Spain for another 5 months at the same rate of pay.
Discuss a production process that you think would involve the production of joint products, being sure to address the following points:
A company has 10 industry segments, of which the largest five account for 80% of the combined revenues of the company. What considerations are important in determining the number of segments that are separately reportable and How are the remaining..
Calculate breakeven volume in total dollars if the sales mix is 2 units of X for every 3 units of Y.
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