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Net credit sales for the month are $800,000. The accounts receivable balance is $160,000. The allowance is calculated as 7.5% of the receivable balance using the percentage of receivable basis. If the Allowance for Doubtful Accounts has a credit balance of $5,000, before the adjustment, what is the balance after the adjustment?
For the current year, Maple Corporation, a C corporation, reports taxable income of $200,000 before paying salary to its sole shareholder, Diane.
prepare the 2012 fiduciary income tax return form 1041 for the green trust. in addition determine the amount and
heckaman corporation produces and sells a single product. data concerning that product appear below. selling price per
Mark Mayer, a cash basis taxpayer, leased property on June 1, 2011 to Perry Purly at $325 a month. Perry paid Mark $325 as a security deposit, which will be returned at the end of the lease.
Worthless Securities, Y purchased 30 shares of BCD corporation common stock on March 2, 2010 for $2475. On February 26,2011, Y was notified by her broker that the stock was worthless.
the najacht division of the rassbach company has a return on investment roi of 12 sales of 200000 and an asset turnover
On January 1, 2003, West Company had accounts receivable of $500. During 2003 West earned $2,500 of service revenue on account. If the accounts receivable balance as of December 31, 2003, was $400, what was the amount of cash flow from operating a..
market corporation began its business on jan 1 2012. it sold 31 per share 6100 shares of no-par common stock with a
on march152011birkshire energy obtained a nine-month working capital loan from the first national bank of oglesby. the
the ceo of star coffee is interested in reviewing the may 2014 performance report for cost center 7-11. prepare a brief
journalize the following transactions for the evans company. assume the company uses perpetual inventory system.1 sells
the west division of shekarchi corporation had average operating assets of 623000 and net operating income of 90000 in
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