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Total credit sales $2,200,000
Accounts receivable at December 31 825,000
Bad debts written off 33,000
1. Assume that the Company estimates its bad debt expense to be 2%of credit sales. What amount of bad debts expense will they record if it has an Allowance for Doubtful Accounts credit balance of4000?
2. Assume that the Company estimates its bad debts expense based on 6% of Accounts Receivable. What amount of bad debts expense will the company record if it has an allowance of doubtful accounts credit of 3000?
Assume that the company follows the practice of allocating all maintenance department costs incurred each month to the divisions in proportion to the actual machine-hours recorded in each division for the month. On this basis, how much cost would ..
an application question which is about "capital markets research" in accounting. "Marcus Padley, a stockbroker, made the following statements in an article in The Sydney Morning Herald.
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Calculate the overhead allocation rate. Compute the amount of under- or overallocated overhead. Calculate the ending balances in work in process, finished goods and cost of goods sold if under overallocated overhead is:
The charter of a corporation provides for the issuance of 109000 shares of common stock. Assume that 59000 shares were originally issued and 4700 were subsequently reacquired. What is the number of shares outstanding?
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In August direct labor was 60% of conversion cost. If the manufacturing overhead for the month was $54,000 and the direct materials cost was $34,000, the direct labor cost was:
gazz electronics manufactures audio equipment selling itthrough various distributors.gazzs days sales outstanding
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China Company issued $1,000,000 of6-year, 12% bonds, effective interest rate is13%. The bonds were purchased by USA Co. on theissue date at the issue price. Present entries to record the following transactions:
The company is now adopting a new inventory system. If the new system is able to reduce the firm's inventory level and increase the firm's inventory turnover ratio to 5 while maintaining the same levels of sales, how much cash will be freed up?
The company's required rate of return is 13%. (Ignore income taxes.)What is the net present value of the investment of the machine?
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