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Net sales for the month are $800,000, and bad debts are expected to be 1.5% of net sales. The company uses the percentage-of-sales basis. If Allowance for Doubtful Accounts has a credit balance of $15,000 before adjustment, what is the balance after adjustment?
dog gone good engines has a bond issue outstanding with 17 years to maturity. these bonds have a 1000 face value a 9
A company's income before interest expense and income taxes in 2010 and 2011 is $225,000 and $200,000, respectively. Its interest expense was $45,000 for both years. Calculate the company's times interest earned ratio for both years, and comment o..
percentage-of-completion method lo5-5 in 2013 the westgate construction company entered into a contract to construct a
Heath Company has beginning inventory of 21,000 units and expected sales of 48,000 units. if the desired ending inventory is 15,500 units, how many units should be produced?
The journal entry to be recorded at the end of the second year for the payment of interest and the amortization of discount will include a ??
Karen, in forming a new corporation, transfers land to the corporation in exchange for the 100 percent of the stock of the corporation. Karen's basis in the land is $275,000, and the corporation assumes a liability on the property in the amount of..
Harriet and Harry Combs (both 37 years old) are married and both want to contribute to a Roth IRA. In 2012, their AGI is $50,000. Harriet earned $46,000 and Harry earned $4,000. (Leave no cells blank - be certain to enter "0" wherever required. Om..
december 31 20x1 parent company purchased 80 of the common stock of subsidiary company for 280000. on this date
In addition, the controller is aware of $10,000 of inventory that was stolen during August from one of the company's warehouses. Calculate the estimated inventory at the end of August, assuming a markup on cost of 25%.
On January 1, 2009, Frederich Corporation purchased 7,500 shared of SportTech, Inc. as a Long-term investment for a total of $235,000.The 7,500 shares represent 30% of the outstanding (25,000) shareds of SportTech. Prepare the journal entries for ..
Restin Co. uses the gross method to record sales made on credit. On June 1, 2010, it made sales of $50,000 with terms 3/15, n/45.
At the time Silver is acquired by Gold, the accumulated earnings and profits of Silver are $100,000 and Gold s are $50,000. How does Alluvia treat this transaction for tax purposes?
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