Reference no: EM132540203
Question - At December 31 of the current year, which is the fiscal year-end of Penguins Incorporated, the following balances appeared in the general ledger, prior to adjusting entries:
Accounts Receivable $110,000 DR
Allowance for doubtful accounts 2,000 CR
Sales Revenue (1/2 of this total = credit sales) 400,400 CR
Sales Returns & Allowances (1/2 of this total relates to credit sales) 10,400 DR
Included in the Accounts Receivable are accounts to be written off in the amount of $2
(a) Prepare all of the necessary year-end adjusting entries under the assumption that it is estimated that two percent of outstanding customer receivables will not be collected.
(b) If bad debts are estimated to three-quarters of two percent (.015) of NET credit sales, indicate how your answer to part (1) would change - just prepare the journal entry that would change!
Show how "Receivables" will be disclosed on the balance sheet as at December 31 for both parts (a) and (b).
How much will be in the Deferred Rent Revenue account
: How much will be in the Deferred Rent Revenue account by the end of the year, after the adjusting entries have been prepared and posted
|
Calculate the average price per share
: On December 15, Eagle issues an additional 1000 shares for $9 per share. Calculate the average price per share. Journalize the two transactions
|
Compute the depreciation charge on this equipment
: Compute the depreciation charge on this equipment for 2012, for 2019, and the total charge for the period from 2013 to 2018
|
Network restrictions surrounding web authentication service
: The network restrictions surrounding the web authentication service is one layer of defense.
|
Prepare all of the necessary year-end adjusting entries
: Prepare all of the necessary year-end adjusting entries under the assumption that it is estimated that two percent of outstanding customer receivables
|
Prepare appropriate journal entries for marin corporation
: Marin Corporation operates a retail computer store. Prepare the appropriate journal entries for the above transactions for Marin Corporation
|
Speech will be to present value speech.
: Select an object, person or place that represents a significant aspect of your cultural background, personality, values, ambitions, etc.
|
Threats to various parts of heterogeneous architectures
: Discuss two different examples of threats to various parts of heterogeneous architectures and how they might manifest.
|
Prepare journal entries for the preceding transactions
: During its current fiscal year, Evanston General Hospital, a not-for-profit health care organization, Prepare journal entries for the preceding transactions
|