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A firm uses the aging method to estimate bad debts. Immediately before recording its adjusting entries, the firm wrote off $5,000 of accounts receivable, leaving a $600 credit balance in its allowance for doubtful accounts. The following is the aging schedule prepared after the write-offs:
Category Amount Estimated % uncollectibleNot past due $40,000 2%1-45 days past due 30,000 6%Beyond 45 days past due 10,000 20%
After recording bad debts expense, what is the final balance in the allowance for doubtful accounts?
Sometimes it is not clear if a particular security is a debt or equity. Explain the basic difference between debt and equity.
Worldwide Scientific Equipment is considering a cash acquisition of Medical Labs for $2.7 million. Medical Labs will provide the following pattern of cash inflows and synergistic benefits for the next 25 years. There is no tax loss carryforward. U..
Michelle Williams is in the 30% personal tax bracket. She is considering investing in HCA (taxable) bonds that carry a 9% interest rate. What is her after tax yield (interest rate) on the bonds?
which allocation provide the most accurate measure for applying manufacturing overhead costs to production?
A mutual fund manager expects her portfolio to earn a rate of return of 11 percent this year. The beta of her portfolio is .8. should you invest in this mutual fund? Show your work and explain why or why not.
evaluate the annualized net present value - compute the certainty equivalent NPV
A 1,000 face value bond has remaining maturity of ten years and a required return of 9 percent. The bond's coupon rate is 7.4%. Determine the fair value of this bond?
How much more must Keith save each year (suppose end of the year payments) for each of next eight years to have enough savings to pay for his daughter? Assume Keith can earn 9% on his savings.
Do the tax consequences change if Marilyn's assignment is for a period of more than one year and is for an indefinite period rather than a temporary period?
Alpha Enterprises acquired a patent from Simpson Research Company on 1/1/01 for $4million. The patent will have a useful life of ten years, even though it's legal life is twenty years.
Some believe that equity financing common stock aside from dividend payments is free financing for the company. Do you agree? explain your reasoning.
Management projects an EBIT of 1,000,000 on sales of 10,000,000 and it expects to have a total assets turnover ratio of 2.0, under these conditions, the tax rate will be 34%. If the changes are made, what will be the company's return on equity?
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