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At year-end, Alvare Company estimates its bad debts as 0.70% of its annual credit sales of $762,000. Alvare records its Bad Debts Expense for that estimate. On the following February 1, Alvare decides that the $381 account of P. Coble is uncollectible and writes it off as a bad debt. On June 5, Coble unexpectedly pays the amount previously written off.Prepare the journal entries of Alvare to record these transactions and events of December 31, February 1, and June 5.
Examine different types of organizational illegal activities, including cybercrimes and the impact to the organization. Use technology and information resources to research issues in forensic accounting.
Declared stock dividends of $40,000 Declared cash dividends of $30,000 A 2 for 1 stock split involving the issue of 200,000 shares of $5 par value common stock for 100,000 shares of $10 par value common stock Suffered a net loss of $60,000 What is..
Bernice dies, and under a will, passes real estate to her surviving husband. The real estate is subject to a mortgage. For estate tax purposes, how will any marital deduction be determined? Can Bernice's estate deduct the mortgage under 2053? Expl..
define statistics.identify different types and levels of statistics.describe the role of statistics in business
on december 31 2012 donovan inc had outstanding 400000 shares of common stock and 42500 shares of 8 cumulative
Bickner Company provides the following information about its defined benefit pension plan for the year 2010.
during september the capital expenditure budget indicates a 420000 purchase of equipment. the ending september cash
Two of the most common line items on an income statement are gross profit and net income. What is the difference between the two?
1. Prepare the journal entry to record the issuance of the bonds on July 1, 2010 2. Prepare the adjusting journal entry on December 31, 2010, to accrue the interest expense. 3. Prepare the journal entry to record the interest payment on January 1, 20..
Using the activity-based costing approach, determine the overhead cost per unit for each product.
Determine the variable cost per haircut and the total monthly fixed costs. Compute the break-even point in units and dollars. Determine net income, assuming 1,900 haircuts are given in a month.
company uses a job order costing system and applies manufacturing overhead to jobs using a predetermined overhead rate
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