A partially completed aging of receivables schedule for Torme Designs follows: a. Determine the amount estimated to be uncollectible by completing the aging of receivables schedule.
Estimate of Uncollectible Accounts Age Interval Balance Percentage Amount Not past due $850,000 3.50% 1 1-30 days past due 47,500 5.00% 2 31-60 days past due 21,750 10.00% 3 61-90 days past due 11,250 20.00% 4 91-180 days past due 5,060 30.00% 5 181-365 days past due 2,500 50.00% 6 Over 365 days past due 1,140 95.00% 7 Total $939,200
b. If the Allowance for Doubtful Accounts has a credit balance of $1,135, record the adjusting entry for the bad debt expense for the year.

Information on gerken power co., is shown below. assume the company’s tax rate is 40 percent. debt: 9,400 8.4 percent coupon bonds outstanding, $1,000 par value, 21 years to maturity, selling for 100.5 percent of par; the bonds make semiannual payments. common stock: 219,000 shares outstanding, selling for $83.90 per share; beta is 1.24. preferred stock: 12,900 shares of 5.95 percent preferred stock outstanding, currently selling for $97.10 per share. market: 7.2 percent market risk premium and 5 percent risk-free rate. required: calculate the company's wacc. (do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) wacc %

Factors like the unemployment rate, the stock market, global trade, economic policy, and the economic situation of other countries have no influence on the financial status of individuals. ( t or f)

Ahospital purchases a $500,000 magnetic resonance imaging (mri) machine that has a useful life of 9 years. the salvage value at the end of 9 years is $77,000. (a) write a linear equation that describes the value y (in dollars) of the mri machine in terms of the time t (in years), 0 ≤ t ≤ 9. (b) find the value, in dollars, of the machine after 6 years. $ (c) find the time, in years, when the value of the equipment will be $140,000. (round your answer to two decimal places.) yr