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General Mills reported the following information in its 2011 financial statements ($ in millions):
A note disclosed that the allowance for uncollectible accounts had a balance of $16.3 million and $15.8 million at the end of 2011 and 2010, respectively. Bad debt expense for 2011 was $12.7 million.Required:Determine the amount of cash collected from customers during2011.
They agree to salaries of $12,000 and $18,000 for Singer and McMann respectively and 10% interest on original capital. If they agree to share remaining profits and losses on a 3:2 ratio, what will McMann‘s share of the income be if the income for ..
hancock corporation is in the process of preparing its financial statements for 2013. assume no entries for
lincoln corp. produces three products clips staples and pens. lincoln uses a plant-wide overhead rate based on machine
during its first year of operations world class sport shoes earned revenue of 388 000 on account. industry experience
Gold Company was experiencing financial difficulties, but was not bankrupt or insolvent. The National Bank, which held a mortgage on other real estate owned by Gold, reduced the principal from $110,000 to $85,000.
a company entered into a franchise agreement to operate a franchised location beginning on january 1 2014. the terms of
easton corporation makes two different boat anchors - a traditional fishing anchor and a high-end yacht anchor - using
corio corporation reports that at an activity level of 2600 units its total variable cost is 117390 and its total fixed
on january 2 2012 douglas and jane created dj corporation. douglas contributed to dj corporation assets worth 100000
carter co. sells two products arks and bins. last year carter sold 14000 units of arks and 56000 units of bins.
the following are preliminary financial statements for black co. and blue co. for the year ending december 31 2009.
1. What are some examples of fixed costs in a service industry? 2. What are some examples variable costs? What are some fixed costs in manufacturing? What are some examples of each? Do the increase and decrease proportionally within the relevant r..
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