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Computation the NRV of accounts receivables.
a. An analysis and aging of accounts receivable of the Lucille Company at December 31, 2007, showed the following: Accounts receivable $840,000 Allowance for Doubtful Accounts (Before adjustment) 36,000(Cr) Accounts estimated to be uncollectible 76,800 Compute the net realizable value of the accounts receivable of Lucille Company at December 31, 2007.
b. Grant Company accepted a $400,000 face value, 6-month, 10 percent note dated May 15 from a customer. On that same date, grant discounted the note at eagle national Bank at a 12 percent discount rate. How much cash should Grant receive from the bank on May 15?
At December 31, 2004, the balance in the investment account should be $810,000. Illustrate what formula/steps do I take to get $810,000?
Determine the five costs listed in the terms of their behavior: variable, step-variable, committed fixed, discretionary fixed, step-fixed, or semi variable. Show calculations to support your answers for mining labor/fringe benefits and royalties.
What administrative release deals with a proposed transaction rather than a completed transaction?
Determine how Kmart and Sears approached the change in ownership interest under current GAAP and how that approach would differ under proposed GAAP. Provide specific examples to support your response.
q in 2000 san fernando shipped 300 diamond drill bits to its subsidiary in ecuador. the drill bits were shipped at san
journal entries for received balance due on the sale on account.1.2272009 sold merchandise inventory for 123340
From the following selected data, compute - Total increase (decrease) in cash during the year
Determine the purpose of the Statement of Cost of Goods Manufactured and determine the ending work in process inventory
james, age 17, is claimed by her parents as a dependant, during 2011, she had interest income from a bank savings account of $2,000 and income from a part-time job of $4,200. how much will be James' taxable incom?
Illustrate what conclusions can you draw concerning the relative liquidity and efficiency of this corporation? How does Target’s results compare to other companies in the same industry?
Understand how fixed and variable costs behave and how to use them to predict costs, analyze a mixed cost using the high-low method and prepare an income statement using the contribution format.
Without regard to your answer in (2) above, assume manufacturing overhead was underapplied in December. Explain how would this amount be reported in the company's financial statements at December 31?
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