Reference no: EM131295457
1. Explain the direct write-off method and the allowance method of recognizing bad debt expense.
2. From the given information prepare the Statement of Cash Flows of Abdullah &Company on 31st December 2015
Cash flow from activities:
Net Income SR 160375
Cash provided by operating activities:
Depreciation expenses SR 44 200
Issuance of ordinary shares 50 000
Gain on sale of plant assets 4 375
Decrease in accounts payable (4 750)
Sale of plant assets 45 250
Purchase of land (35 000)
Decrease in inventory 7 750
Amortization of intangibles
8 150 Payment of cash dividend
(9 900) Redemption of bonds
(25 000)
3. The trial balance before adjustment of XYZ Company reports the following balances:
Dr . Cr.
Accounts receivable $100,000
Allowance for doubtful accounts $ 2,500
Sales (all on credit) 750,000
Sales returns and allowances 40,000
Instructions
Prepare the entries for estimated bad debts assuming that doubtful accounts are estimated to be (1) 6% of gross accounts receivable and (2) 1% of net sales.
4. AG Inc. made a $10,000 sale on account with the following terms: 1/15, n/30. If the company uses the net method to record sales made on credit.
Prepare the journal entries for following:
1- Record the sale
2- Payment on $6,000 of sales within discount period?
3- Payment on $4,000 of sales received after discount period?
|
Define the terms invitee- licensee- and trespasser
: Define the terms invitee, licensee, and trespasser.What difference do these classifications make in the scope of duty owed by a facility owner or operator?
|
|
Design a series rlc circuit whose output voltage resides
: Design a series RLC circuit whose output voltage resides entirely within the nonshaded region of Figure. Validate your design using MATLAB or Multisim.
|
|
What is the net present value on the incremental cash flow
: The XYZ Corporation is considering opening an office in a new market area that would allow it to increase its annual sales by $1.5 million. What is the net present value from opening the office building under the assumption that the corporation lease..
|
|
Project manager who works
: As a member of your organizations PMO, its important to recognize that you deal with risk in a much different way than a project manager who works for you.
|
|
The allowance method of recognizing bad debt expense
: Explain the direct write-off method and the allowance method of recognizing bad debt expense. From the given information prepare the Statement of Cash Flows of Abdullah &Company on 31st December 2015. Prepare the entries for estimated bad debts assum..
|
|
What creative art approach does the application use
: What creative art approach (es) does the application use? How does this facilitate mathematics development? What type of math is it reinforcing? Is this developmentally appropriate for the intended audience?
|
|
Determine the circuits initial value and final value
: Determine the circuit's initial value, final value, the dominant exponential's time constant, and the likely case (A, B, or C) of the circuit response.
|
|
Investigate compound interest
: In this project you will investigate compound interest, specifically how it applies to the typical retirement plan - How much will you have accumulated, if you annually invest $4000 into an IRA at 10% interest compounded quarterly.
|
|
Determine the cost flow assumption you plan to employ
: You own two auto repair shop franchises and now have the opportunity to expand your ownership to include two more shops. Keeping track of all the inventory has been a challenge for you. Share your choice and the reasons for it. Next, determine the co..
|