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Question
Tao Co. shows the following Aging of its Accounts Receivable:
Past
due Amount %Collectible
not due P250,000 99%
1-30 days 394,000 98%
31-60 days 158,000 95%
61-120 days 466,000 80%
121-180 days 514,000 65%
over 180 days ? 50%
The company has an ending balance in its Accounts Receivable amounting to P2,654,000 as of the year ended December 31, 2018.
If the Allowance for bad debts as of January 1, 2018 amounts to P705,160 and the company has written-off P14,920.
Required: How much is the Bad Debts Expense for the year 2018? _______________
Identify five important guidelines for drawing a flowchart. Select one from your list and describe why it could be the most important one to consider when preparing a flowchart. (Hint: You may want to support your argument with an example.)
Grant Company acquired all of Bedford Corporation's assets and liabilities on January 1, 20X2, in a business combination. At that date, Bedford reported assets with a book value of $630,000 and liabilities of $368,000. If the book value of Bedford's ..
Are these ratios sufficient enough for you to evaluate our customer? What do you conclude about the firm's financial health and any change from 2013 to 2014?
Direct Manufacturing Labor-Manufacturing Overhead Costs
Which of the is allowed under generally accepted accounting principles - purchase of merchandise on credit using a perpetual inventory system includes
Company produces precision components. Company has 11 customers, one accounts for 60 percent of th esales, with the remaining ten accounting for th rest of the sales. What are the total costs assigned to the large customer and to the ten small custom..
Macintosh Inc. was opened for business on August 1, 2014. The following events and transactions. Prepare the general journal entries, in proper format, required to record all of the August transactions.
The machine is acquired on 1 July 2015 at a cost of $250,000, What would be the balance of the deferred tax asset or deferred tax liability as at 30 June 2018
In department C, materials are added at the beginning of the process. There were 1,000 units in beginning inventory, 10,000 units were started during the month, and 7,000 units were completed and transferred to finished goods inventory. the ending in..
Assume that BHI depreciates the building using the straight-line method. Calculate the depreciation expense for the building for 2011.
The market price of Scornick's common stock subsequently declined by 40 percent.
The company controller has asked all candidates to take a quiz to demonstrate their knowledge of job order costing. Chelsea’s job order costing system is based on normal costs, and overhead is applied based on direct labor cost.
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