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On January 1, 2013, the balance in Tabor Co.'s Allowance for Bad Debts account was $13,853. During the first 11 months of the year, bad debts expense of $21,188 was recognized. The balance in the Allowance for Bad Debts account at November 30, 2013, was $9,919. Required: (a) What was the total of accounts written off during the first 11 months? (Hint: Make a T-account for the Allowance for Bad Debts account.) b). (b) As the result of a comprehensive analysis, it is determined that the December 31, 2013, balance of the Allowance for Bad Debts account should be $9,299. Show the adjustment required in the journal entry format. how do record the entry to adjust the allowance account to the appropriate balance.
100 chairs were in process at the end of the year with a cost of $9,000. Each month, Ace paid $2,000 for secretarial services. Ace also paid sales commissions of $100 for each chair sold. (a) What was the cost per chair completed ? (b) Prepare a s..
1.how does the accounting write-off of design and development costs as current period expenses affect managers
in performing financial ratio analysis, what the do the results mean? do the answers provide conclusions on their own, or do we have to pt them in perspective by comparing them to prior periods, other companies or competitiors or industry standard..
which of the following accounts ordinarily appears in the post-closing trial balance?a accumulated depreciationb
Blue Corporation acquired new office furniture on August15, 2008, for $150,000. Blue did not elect immediate expensingunder 179. Determine Blue's cost recovery for 2008.
under absorption costing a company had the following per unit costs when 10000 units were produced.direct labor
Antawn expects to sell 42,000 units of finished goods this period-How many units must he budget for production this period
Peg sold a machine this year for $48,000. Peg purchased the same machine for $53,000 a couple years ago and claimed a total of $11,500 of depreciation expense on the machine. What's the amount and character of the gain or loss?
In 2010, Clair, a calendar-year taxpayer, purchased business equipment (7-year property) for $700,000. The property was placed in service during 2010 (and is being used exclusively in Clair's extremely profitable business).
During 2011, Jackson Company became involved in a tax dispute with the IRS. At December 31, 2011, Jackson's tax adviser believed that an unfavorable outcome was probable and a reasonable estimate of additional taxes was $500,000 but could be as mu..
motor company manufactures 10000 units of part m-l each year for use in its production. the following total costs were
Given the machinery account for 5 years writing off depreciation at 10% on the wrriten down value.
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