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At each calender year end Maize Supply co uses the percent of accounts receivable METHOD to estimate bad debts. On 31 december 2013 it has an outstanding accounts receivable of $55,000 and it estimates that 2% will be uncollectible.
Prepare the adusting entry to record bad debt expense for year 2013 under the assumption that the Allowance for Doubtful Accounts has
a) $415 credit balance before the adjustment
b) $291 debit balance before the adjustment
What was the estimated collectable value of accounts recivable as at 30 June 2009? What was the amount of the bad debts expense for the year ended 30 June 2009?
on january 1 2012 jumpinjehosaphats inc. has been authorized to issue 1000000 common shares with a par value of 1. in
1.question 1 optionsa firm has an roi of 15 turnover of 3 and sales of 6 million. calculate the firms margin.enter your
Which of the following best explains how a translation loss arises when the temporal method of translation is used to translate the foreign currency financial statements of a foreign subsidiary?
lyle okeefe invests 30000 at 8 annual interest leaving the money invested without withdrawing any of the interest for 8
prepare a cash receipts journal based on the information given below and post it to the accounts receivable subsidiary
Mary Smith opened an architectural firm called Creative Architecture and recorded the following transactions. Use the Accounting Equation grid to record the following transactions and T-accounts. Include your fee. Prepare financial statement..
Goodwill arises when one firm acquires the net assets of another firm and pays more for those net assets than their current fair value. Suppose that Got Em Co. had operating income of $64,300 and net assets with a fair market value of $184,000. Ta..
compute the depletion expense in 2013 and 2014 for financial accounting purposes. what accounts will be diebited and
A corporation issues for cash $2,000,000 of 8%, 15-year bonds, interest payable annually, at a time when the market rate of interest is 7%. The straight-line method is adopted for the amortization of bond discount or premium. Which of the followin..
Maria Alvarez is investing $300,000 in a fund that earns 8% interest compounded annually. What equal amounts can Maria withdraw at the end of each of the next 20 years?
What is the recorded net value of this machine on December 31, 2009 and 2011 using US GAAP?
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