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On January 1, 2010, Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $300,000 and $5,000, respectively. During the year the company reported $700,000 of credit sales. There was $5,500 of receivables written-off as uncollectible in 2010. Cash collections of receivables amounted to $745,000. The company estimates that it will be unable to collect 2% of accounts receivable. The net realizable of accounts receivable on the December 31, 2010 balance sheet will be:
If $380,000 is to be distributed as a dividend for the current year, what total amount will be distributed to the common stockholders?
Revel Company has average daily sales of $5,000, 90% of which are on credit. Receivables are collected 28 days after sales, on average. What is Revel's average accounts receivable balance?
Information regarding Central Company's individual investments in securities during its calendar-year 2011, along with the December 31,2011, fairs value, follows.
Antawn expects to sell 42,000 units of finished goods this period-How many units must he budget for production this period
What is an unasserted claim and why would an attorney and/or client be reluctant to disclose an unasserted claim in the financial statements.
Identify the limitations of the internal control system. Provide at least 3 limitations. Provide at least 2 examples of internal control procedures, and explain how these procedures can be implemented.
The following information is given for Alpha and Beta Divisions of Fraternity Corporation. If Fraternity Corporation uses ROI to evaluate division managers, and uses historical cost as the investment base, compute the ROI for Alpha and Beta.
A company has 10 industry segments, of which the largest five account for 80% of the combined revenues of the company. What considerations are important in determining the number of segments that are separately reportable and How are the remaining..
Discuss the financial impact of SOX and consider its effect on economic growth and enterprise.
Based on your research, determine the types and methods of transfers that will most likely trigger a taxable event for your client. Indicate how you are likely to present this information to your client.
For the ROA, break both of them down into their two component ratios and prove they equal the returns calculated above.
During 2006, NICO Corporation had EBIT of $100,000, a change in net fixed assets of $400,000, an increase in net current assets of $100,000, an increase in spontaneous current liabilities of $400,000, a depreciation expense of $50,000, and a tax r..
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