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Hamblin Co. elects to use the percentage-of-sales basis in 2014 to record bad debts expense. It estimates that 2% of net credit sales will become uncollectible. Sales revenues are $871,300 for 2014, sales returns and allowances are $53,200, and the allowance for doubtful accounts has a credit balance of $9,490. What would the debit and credit entries be?
For the Project, you will need to submit a written research paper which answers the following questions. This Project is due by Sunday, December 9, 2012. Please read the instructions below.
rs is a small retailer located in a tourist district. the company purchase their building 11 years ago at a cost
Prepare an income statement for 2012 and what is the amount of total assets at the end of the period
What factors are likely to drive a firm's outlays for new capital (such as plant, property, and equipment) and for working capital (such as receivables and inventory)? What ratios would you use to help generate forecasts of these outlays?
Explain why you selected this particular work for your analysis
What is the main objective of internal control procedures and why should recordkeeping for assets be separated from custody over those assets?
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myron is a barber who does his own accounting for his shop. when he buys supplies he routinely debits supplies expense.
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Assume20% of all sales are cash sales; remaining 80% are sales on account. Calculate the estimated cash from all sources for March.
How common are dividend distributions in today's economic climate, particularly since the economic downturn of 2008 and 2009? Please comment on whether dividend distributions are concentrated in the companies that are publicly traded or whether cl..
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