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South Salem Day Care Center is a not for profit organization that provides day care services. Prepare journal entries for the center to record the following events. After making all the journal entries, calculate the net realizable value of the center accounts receivable.1. The center billed its clients $ 120,000 for day care services during the year.2. The center received $ 105,000 from its clients in payment of the bills.3. The center established an allowance for uncollectible accounts receivable in the amount of 10 percent of its outstanding receivables.4. The center could not locate three clients who owed a total of $ 800, and it decided to write off their accounts as being uncollectible.
of two corporations organized at approximately the same time and engaged in competing businesses one issued 150 par
superior lighting inc. mass produces reading lamps. materials used in constructing the body of the lamp are added at
How would you calculate cost of goods sold? What items make up cost of goods sold? How does beginning and ending inventory affect cost of goods sold?
peeler company was incorporated as a new business on january 1 2012. the corporate charter approved on that date
An appraisal showed that the fair market value of inventory was $300,000 and that the fair market value of the plant assets was $1,250,000. The fair market value of the receivables is equal to book value. The agreed purchase price was $2,200,000 m..
parker amp co. expects overhead costs of 400000 per year and direct production costs of 12 per unit. the estimated
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if the mercahdise cost 5000 insurance in transit cost 250 tarriff cost 75 processing the pruchase order by the
(a) Prepare the entry to record the interest expense at October 1, 2014. Assume that accrued interest payable was credited when the bonds were issued.
Puckett Co. has office furniture that cost $75,000 and that has been depreciated $50,000. Record the disposal under the following assumptions.
On October 31, a company's Cash account had a normal balance of $7,000. During October, the account was debited for a total of $4,250 and credited for a total of $5,340. What was the balance in the Cash account at the beginning of October?
lincoln corp. produces three products clips staples and pens. lincoln uses a plant-wide overhead rate based on machine
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