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1. What is the amount of gross accounts receivable at fiscal year-end 2013? 2. Suppose that write-offs of accounts receivable during fiscal year 2013 amounted to $6K, there were no reinstatements, and all sales during 2013 were on credit. (a) Prepare the journal entry to record bad debt expense during 2013. (b) Determine cash collected from customers during 2013. 3. What inventory costing method(s) does Sherwin-Williams use for financial reporting? 4. Calculate inventory turnover for fiscal year 2013 (use total reported inventory). 5. Compute the amount of "Work-in-process and raw materials" transferred to finished goods during 2013. 6. What is the LIFO reserve at fiscal year-end 2013? 7. What method of depreciation does Sherwin-Williams use for its PPE? 8. How much was depreciation expense during 2013? 9. Was any PPE sold during 2013? How do you know?
A new employee suggests that Racer Industries sponsor a company 10-K as a form of advertising. The cost to sponsor the event is $7,200. How many more units must be sold to cover this cost?
The Lawrence Company sold fixed assets for cash of $8,000. The assets had a book value of $5,000. How should this be reported in the investing activities section of a statement of cash flows?
If correct working paper eliminations are prepared for Passey Corporation and subsidiary on November 30, 2007, the end of the fiscal year, Passey's net income to be included in consolidated net income is (disregarding income taxes):
how can a firms security policies contribute and relate to the six main business objectives and give
What would be Altoona's finished-goods inventory cost on Dec 31 under the variable costing method?
discuss ways in which the company you researched could best use job costing information to design and implement a job costing system
Compute the following ratios in Excel for two years.
Goofy reclassified this investment as trading securities in December of 2009 when the market value had risen to $125,000. What effect on 2009 income should be reported by Goofy for the Crazy Co. Shares?
Applying the carryback provisions in the tax law, compute the net amount of taxes paid (amounts paid less refunds) for the ten-year period ending December 31, 2011
At present she is buying these products in amounts such that the marginal utilites from the last units purchased of the two products are 80 and 70 units, respectively. Is she buying the utility-maximizing combination of bread & milk? How should sh..
The firm sold securities on two occasions during the year, receiving a gain of $40,000 on the first sale but losing $50,000 on the second. The stock sold first has been owned for 4 years; the stock sold second had been purchased 3 months before th..
Monthly demand for an inventory item currently averages 160 units. The annual carrying cost is $10 per unit. Ordering cost is $60 per order. This information applies to all of the questions on this page.
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