Business, 09.04.2020 21:35 ankomamasonjr
During Burns Company's first year of operations, credit sales totaled $166,000 and collections on credit sales totaled $118,000. Burns estimates that bad debt losses will be 2.0% of credit sales. By year-end, Burns had written off $430 of specific accounts as uncollectible.
Prepare all appropriate journal entries relative to uncollectible accounts and bad debt expense.
Answers: 1
Business, 21.06.2019 18:30
Which stroke of the four-stroke cycle is shown in the above figure? a. power b. compression c. exhaust d. intake
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Business, 21.06.2019 21:30
1. gar principles or "the principles"are intended to do what?
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Business, 22.06.2019 04:10
An outside manufacturer has offered to produce 60,000 daks and ship them directly to andretti's customers. if andretti company accepts this offer, the facilities that it uses to produce daks would be idle; however, fixed manufacturing overhead costs would be reduced by 75%. because the outside manufacturer would pay for all shipping costs, the variable selling expenses would be only two-thirds of their present amount. what is andretti's avoidable cost per unit that it should compare to the price quoted by the outside manufacturer?
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Business, 22.06.2019 07:30
Miko willingly admits that she is not an accountant by training. she is concerned that her balance sheet might not be correct. she has provided you with the following additional information. 1. the boat actually belongs to miko, not to skysong, inc.. however, because she thinks she might take customers out on the boat occasionally, she decided to list it as an asset of the company. to be consistent, she also listed as a liability of the corporation her personal loan that she took out at the bank to buy the boat. 2. the inventory was originally purchased for $27,500, but due to a surge in demand miko now thinks she could sell it for $39,600. she thought it would be best to record it at $39,600. 3. included in the accounts receivable balance is $11,000 that miko loaned to her brother 5 years ago. miko included this in the receivables of skysong, inc. so she wouldnโt forget that her brother owes her money. (b) provide a corrected balance sheet for skysong, inc.. (hint: to get the balance sheet to balance, adjust stockholdersโ equity.) (list assets in order of liquidity.)
Answers: 1
During Burns Company's first year of operations, credit sales totaled $166,000 and collections on cr...
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