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In 2013, Warehouse 13 had net credit sales of $750,000. On January 1, 2013, Allowance for Doubtful Accounts had a credit balance of $16,000. During 2013, $29,000 of uncollectible accounts receivable were written off. Past experience indicates that the allowance should be 10% of the balance in receivables (percentage of receivable basis). If the accounts receivable balance at December 31 was $200,000, what is the required adjustment to the Allowance for Doubtful Accounts at December 31, 2013?
Strikes in the mills that purchase the bulk of the MJ-7 glue have caused Hallas Company's sales to temporarily drop to only 11,000 gallons per month. Hallas Company's management estimates that the strikes will last for two months, after which sale..
Identify two financial intermediaries. What are their respective functions? What are their major roles in the economy? What are the money markets and what are the capital markets? How do they differ? What are their respective activities?
After reading an article about activity-based costing in a trade journal for the furniture industry, Santana Rey wondered if it was time to critically analyze overhead costs at Business Solutions.
on september 30 the cash account of value company had a normal balance of 5700. during september the account was
Compute the cost to retail percentage used by New York Sales Inc.
On May 31, the inventory balances of Tog Designs, a manufacturer of high quality children's clothing, were as follows: Materials Inventory, $21,360; Work in Process Inventory
Prepare the journal entry to record the first semiannual interest payment and amortization of any discount or premium assuming it uses the straight-line method.
Which of the following elements of an entity's internal control structure includes the development of personnel menuals documenting employee promotion and training policies?
1dues to auto club e.g. aaa for taxpayer who uses the automatic mileage method.2nursing refresher course for taxpayer
At the beginning of 2011, based on new marketing research, Barkley determines that the fair value of the tradename is $12,000. Estimated total future cash flows from the trade name are $13,000 on January 4, 2011.
concordia industries collected 105711 from customers in 2014. of the amount collected 27955 was from revenue accrued
on january 1 2013 vki corporation awarded 12 million of its 1 par common shares to key personnel subject to forfeiture
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