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GRADED PROJECT Directions: Be sure to make an electronic copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English spelling and grammar. Sources must be cited in APA format. Your response should be a minimum of one (1) single-spaced page to a maximum of two (2) pages in length; refer to the "Assignment Format" page for specific format requirements. Part A (30 points) Prepare general journal entries to record the following transactions for the Harris Company. (The company uses the balance sheet approach for recording bad debts expense.) 2010 Dec. 31 Recorded Bad Debts Expense, $800 2011 Jan. 3 Wrote off Jal's account as uncollectible, $60 Mar. 4 Wrote off Hall's account as uncollectible, $75 Jul. 5 Recovered $45 from Hall Aug. 19 Wrote off M. Wilson's account as uncollectible, $100 Nov. 7 Recovered $25 from Jal Part B (10 points each for a possible total of 40 points) For each of the following, identify in Column 1 the category to which the account belongs, in Column 2 the normal balance for the account, in Column 3 the financial statement that the account in which the account balance is reported, and in Column 4 the account's nature (temporary/permanent (1) Column 1 Column 2 Column 3 Column 4 Interest payable (2) Column 1 Column 2 Column 3 Column 4 Interest receivable (3) Column 1 Column 2 Column 3 Column 4 Discount on notes payable (4) Column 1 Column 2 Column 3 Column 4 Store equipment Part C (15 points each for a possible total of 30 points) A computer server system, which had cost $210,000 and had accumulated depreciation of $147,000, was traded for a new system with a fair market value of $235,000. The old system and cash of $180,000 were given for the new system. Prepare the journal entry for the exchange of these similar assets. Prepare journal entries for the following for Bartz, Inc. May 11 Replaced the engine in a Van #1, paying cash of $5,400 May 18 Paid cash for a tune-up of the engine in Van #2 of $570 May 29 Paid cash to add a lift to Van #2 of $3,700
Barrett Corporation had 6,500 units of work in process on April 1. During April, 19,100 units were completed and as of April 30, 5,100 units remained in production. How many units were started during April?
Compute the break-even point
edgar inc. has a materials price standard of 2.00 per pound. six thousand pounds of materials were purchased at 2.20 a
during the year eugene had the four property transactions summarized below. eugene is a collector of antique glassware
Using one of the two formulas cited in this module calculate the correlation coefficient using the following values presented below. Once you have completed your calculation, discuss the following:
Klingon Cruisers, Inc., purchased new cloaking machinery three years ago for $9.5 million. The machinery can be sold to the Romulans today for $6.5 million. Klingon's current balance sheet shows net fixed assets of $5.2 million, current liabili..
Explain how these histograms demonstrate what the Central Limit Theorem says about the sampling distribution model for sample proportions. Be sure to talk about shape, center, and spread.
In a statement of cash flows, all of the following would be classified as operating activities except:
The business has been offered $5 per finished gallon to process two batches of Product A futher into Product B. Product B will require additional processing costs of $7,800 per batch, and 10% of the gallons of Product A will evaporate during proce..
a. Calculate the equivalent units of production for the year.b. Calculate the average cost per equivalent unit (round to the nearest cent).
cane company manufactures two products called alpha and beta that sell for 120 and 80 respectively. each product uses
jackson inc. is a management consulting firm that specializes in management training programs. max manufacturing inc.
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