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For a business that uses the allownace method of accounting for uncollectible receivable, journalize the entires to record the following:
1) Record the adjusting entry at Decemeber 31,2010, end of the fiscal year, to record the bad debt expense. The accounts receivable has a balance of $550,000, and the allowance for the doubtful acocunts before adjustment has a credit balance of $5,500. Analysis of the receivables indicates uncollectible reeivables of $25,000.
2) In March, 2011, $2,400 owed by Fenton Co. on account is written off as uncollectible.
3) In November, 2011, $1,800 of the Fenton Co. account is reinstated and payment of that amount is received.
The risk-free rate and the firm's beta remain unchanged. What is the company's new required rate of return? (Hint: First calculate the beta, then find the required return.)
the door company manufactures doors. classify each of the following quality costs as prevention costs appraisal costs
Which item LEAST resembles an interest free loan from the U.S. government?
Compare and contrast the different types of audit risk. Determine the type of risk that you think is the least detrimental and the most detrimental. Defend your answer.
Offset the year-end inventory balance with a fund balance-non-spendable
Indicate whether the imputed interest rules should apply in the following situations. Assume that all of the loans were made at the beginning of the tax year unless otherwise indicated. If an amount is zero, enter "0".
Would the use of accelerated depreciation in the financial statements be more conservative or less conservative than the current practice of using the straight-line method? Explain.
Compare the following alternatives on the basis of their capitalized cost at an interest rate of 10% per year.
on january 1 2008 blair corporation purchased for 500000 atract of land site number 101 with a building. blair paid a
Create a formula to calculate your rate of return for each year. What is your overall return over the life of your investment? What is the average annual return over the life of the investment? Use the geomean function.
A. Calculate the break-even point(s) B. If Cesar's Bottlers can sell all the units it can produce, shoud it operate ar one, two, or three shifts? Support your answer.
Determine the number of times interest charges were earned for the current and preceding years and what conclusions can you draw?
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