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a. At the end of January, $5,300 of accounts receivable are past due, and the company estimates that 20% of these accounts will not be collected. Of the remaining accounts receivable, the company estimates that 5% will not be collected. The note receivable of $23,000 is considered fully collectible and therefore is not included in the estimate of uncollectible accounts. b. Supplies at the end of January total $850. c. Accrued interest revenue on notes receivable for January. Interest is expected to be received each December 31. d. Unpaid salaries at the end of January are $33,800. 2. Record adjusting entries on January 31 for the above transactions
City of Superman For the Year Ended December 31, 2015 In 2015, received in cash revenues of $50,000 Sold services in 2015 of $1,000 but not received in cash until 2016 In 2015, paid payroll in cash of $7,000 In 2015, Prepare the Cashflow Statement f..
How much will be in a high-yield account at the National Bank of Arizona 12 years from now if you deposit $5000 now and $7000 fi ve years from now? The account earns interest at a rate of 8% per year, compounded quarterly (draw the cash flow diagram)
On January 1, 2016 Nezcorp issues a 1-year 10% $100,000,000 bond in a 7% market. bond pays semi-annual interest. What if the bond was issued on February 1 rather than on January 1 (round all numbers to nearest dollar)?
Explain the effects of the interest capitalization on the financial statements for all three years. Ignore income.
The costs will be allocated based on the number of employees using the direct method. Information regarding costs and how much of the accounting department costs will be allocated to the production
Complete the aging analysis of accounts receivable. Compute the end-of-year balances (before adjustments) of Accounts Receivable and Allowance for Uncollectible Accounts.
Create a spreadsheet to calculate the below financial ratios. Complete a comparison between the two years for this company and remember to use Excel formulas and link cells when possible.
Diana, whose total tax rate is 35%, made 2 investments on 01/01/2012. She purchased $100,000 of 10% bonds due in 5 years (12/31/16) and also purchased $100,000 of common stock. The bonds were issued at par, pay interest annually on December 31, and m..
Last year, Owens, Inc., reported bad debt expense of $150,000.
How is accounting for merchandise operations under international financial reporting standards significantly different from when a company follows accounting standards for private enterprises?
Assume that the company uses the weighted-average method. - Find the total cost of ending work in process inventory and the total cost of units transferred to the next process in June.
Consider Christian moralities involved in the process of Cash Flow Estimation and Risk Analysis with regard to Negative Within-Firm Externalities. What implications may develop, positive or negative, that support or conflict with Christian ideals.
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