Nichols enterprises has an investment in 250 bonds of elliott electronics that nichols accounts for as a security available for sale. elliott bonds are publicly traded, and the wall street journal quotes a price for those bonds of $1,000 per bond, but nichols believes the market has not appreciated the full value of the elliott bonds and that a more accurate price is $1,200 per bond. nichols should carry the elliott investment on its balance sheet at:

The distinction between a normal and an inferior good is

Allie and sarah decided that they want to purchase renters insurance for the apartment they share. they made a list of all of the items to be covered by the insurance policy, along with their estimated values. if the items to be covered total more than $3000, the insurance company charges an annual premium of 23% of the total value of the items. if the items to be covered total $3000 or less, the insurance company charges an annual premium of 20% of the total value of the items.

Record the journal entry for the provision for uncollectible accounts under each of the following independent assumptions: a. the allowance for doubtful accounts before adjustment has a credit balance of $500. b. the allowance for doubtful accounts before adjustment has a debit balance of $250. c. assume that octoberʼs credit sales were $70,000. uncollectible accounts expense is estimated at 2% of sales. smith, gaylord n.. excel applications for accounting principles (p. 51). cengage textbook. kindle edition.