Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
A recent annual report for Target contained the following info at the end of the fiscal year: A/R year 2 = $9,094,000 Allowance for doubtful accounts year 2 = $(1,010,000) A/R year 1 = $8,624,000 Allowance for doubtful accounts year 1 = $(570,000) A footnote to the financial statements disclosed that uncollectible accounts amounting to $811,000 and $428,000 were written off as bad debts during year 2 and year 1, respectively. Assume that the tax rate for the company is 30%. 1. Determine the bad debt expense for the year 2 based on the preceding facts. (hint: use the allowance for doubtful accounts t-account to solve for the missing value). 2. How was the company's working capital affected by the write off of 811,000 in year 2. What impact did the recording of bad debt expense have on working capital in year 2? 3. How was the net income affected by the 811,000 write off during year 2? What impact did recording the bad debt expense have on net income for year 2?
A primary characteristic that distinguishes governmental entities from business entities is:
Either hedging a portfolio or increasing the returns, managers use one or a combination of five option strategies: spreads, straddles, strangles, covered calls, and condors. Select two of these strategies, explain how it works, and provide a speci..
A small business owner holds $4,000 in cash; $1,200 in materials; $10,000 in land and $32,000 in plant and equipment. His accounts payable total $9,000 and he has an outstanding bank loan totaling $18,800. what is the owners equity?
Determine the unit sales of product A at the monthly break-even point
1. an operating cyclea. is twelve months or less in lengthb. is the average time required for a company to collect its
it is the month of april for rand company a producer of gold and silver commemorative medallions. rand company has one
Ronald and Roy formed an equal partnership, R&R Partnership, a general partnership, on January 1, 2012. Ronald contributed $100,000 in exchange for his one-half interest in R&R partnership.
At the beginning of the year, Hernandez Company had total assets of $781,587 and total liabilities of $503,090. Answer the following (((independent questions.)))))
The partners of JPG Partnership want to change the form of entity from a partnership to a corporation. The corporation can be formed in several ways: The partnership can distribute the assets to the partners who then contribute the assets to the c..
Comment on the appropriateness of the accounting procedures followed by Anderson, Inc
Determine the amount of Haines deficiency and determine the amount distributed to Jolly, assuming Haines is unable to satisfy the deficiency.
Caleb Samford calls you and says that his two-person S corporation was involuntarily terminated in February 2010. He asks you if they can make a new S election now, in November 2011. Draft a memo for the file outlining what you told Caleb.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd