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Question - Alpha Company uses an allowance method for recording bad debts. On July 15, 2016 Alpha Company was advised of the bankruptcy of the Broken Corporation and wrote off their $7,000 of accounts receivable. Suddenly, on August 25, 2016 Broken won the Maryland State Mega Millions. Without warning, on August 26, Alpha Company received in full the payment for Broken's past debt. Use this information to prepare the General Journal entries (without explanation) for the August 26, 2016 event. If no entry is required then write "No Entry Required."
assume that you are a stock holder in a publically traded company. discuss whether or not you would prefer a cash or
What type of concessions were private equity firms able to get from investment banks during 2006 and the first half of 2007 that normally would not be possible?
Joint Costs The output of one of Montero Chemical Company's production processes is two solvents, Rexon and Texon. The two products cannot be separated.
what is the total amount of factory overhead to be allocated to table lamps using the multiple production department factory overhead rate method.
HI6028 Taxation, Theory, Practice & Law Assignment. Discuss whether Kit is a resident of Australia and how his salary and investment income would be taxed
ShurShot Sports Inc. manufactures basketballs for the National Basketball Association (NBA). Prepare an incremental analysis for the special order
The new machine would generate cash flows of $100,000.00 for each of the next three years. The discount rate is 15%. What is the NPV/net present value
Your brother has asked you to help him with choosing an investment. What will be the value of the investment in two years
Bill's business consists of four to six stations operated by himself and other licensed beauticians
Which of the leases are operating leases and which are capital leases? Explain. How should the lease transaction for Hester Co. be recorded in 2014?
Calculate the net income for the firm. If the company paid out $77,000 in cash dividends, calculate the increase to retained earnings
the bacon company acquired new machinery with a price of 13562.00 by trading in similar old machinery and paying
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