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Question - The accountant for Birdwell Enterprises uses the income statement approach to estimate bad debt expenses. Birdwell's annual sales were $400,000. The firm's accounts receivable balance is $100,000. Uncollectible accounts are accruing at a rate of 3% of total sales. What is the estimated bad debts expense for Birdwell?
a. $ 9,000
b. $ 3,000
c. $15,000
d. $12,000
Net income for Sparis was $912,000 during 2010. What was the non-controlling interest's share of Sparis' net income for 2010?
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agnes an executive of a large corporation receives a salary of 1.5 million. taylor who is an executive of another large
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Assume the same facts as part (a), except that the warrants had a fair value of $30. Prepare the entry to record the issuance of the bonds and warrants.
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Journalize the entries to record the following: Mar 1 Established a petty cash fund of $200. Record any discrepancy in the cash short and over account
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